This paper explores the different regulatory roles within the financial sector; the tensions and complementarities that can exist between the role of a competition agency and regulators, in particular central banks and discussed the ways in which agencies can ensure they co-operate effectively. It also looks at similarities and differences in the approach, methodologies and findings of financial market studies that have been conducted across Latin American and Caribbean. It was prepared as background material for the session "Addressing Competition Challenges in Financial Markets" held at the 2017 Latin American and Caribbean Competition Forum in Nicaragua on 4-5 April 2017.