Z/Yen is making its own idiosyncratic contribution to the recent UK competition review of banking and banking charges led by Don Cruickshank. Naturally, Z/Yen is well ahead of the regulators and has moved beyond domestic banking charges to look at investment banking. Z/Yen is managing a Competitive Cost Comparison Club amongst over half a dozen leading investment banks. The CCCCCC (who’s counting anyway) is looking at % costs and per transaction costs in both the debt and equity markets. Friends of Z/Yen who have colleagues in investment banks, interested in seeing how their charges compare with their peers, are encouraged to contact Jeremy Smith. Those who would rather deal with the folks who know what’s really going on are encouraged to contact Shelly Kainth or Helen Leale-Green who are doing the work. On a serious note, this is an extraordinarily detailed study with strict information control amongst the participants. Results are expected to be shared with participants in early June.