Matthew Sinclair-Thomson, Sandeep Ravikumar and Loukia Kopitsa of Kirkland and Ellis (International) LLP review recent UK competition law developments in the financial sector. This update covers key developments in the application of competition law to the financial sector in the UK in recent months. In this issue, we focus in particular on proposals and actions of the Competition and Markets Authority (CMA) for the implementation of an open banking ecosystem in the UK and on the latest developments in ongoing class action and cartel cases.