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註釋The purpose of this study is to assess the efficacy of the institutions of competition law and policy in dealing with competition issues in the financial services industry. The study examines the ability of these institutions to make the appropriate decision regarding bank mergers in the event they are otherwise allowed to occur. After the introduction, the study reviews merger provisions of the Competition Act, merger enforcement activity and Competition Tribunal decisions, and makes observations on the merger review process. It then reviews Competition Bureau views on competition in the financial services industry; bank merger policy in the United States; bank merger evaluation in Australia and Britain; and major competition issues including market power, efficiencies, vertical restrictions such as tied selling, and abuse of dominance. Reference is made to specific court or tribunal cases where relevant. The study draws conclusions regarding the effectiveness of the Competition Act as an instrument for encouraging competition via both merger review and the control of anti-competitive conduct.