An investigation has been launched into suspected anti-competitive arrangements in the financial services sector.

The Competition and Markets Authority said the case is at an early stage.

It will continue to gather information until next August.

The authority is currently examining a suspected cartel in estate agency.

It has not said what part of the financial services industry – which covers a broad range of activities including mortgages, insurances, banking, shares and other investment advice – it is looking at.

The CMA expects to issue an update on its latest investigation into possible fee-fixing in estate agency at the end of February.