MPs and Peers have been warned that proposals to publish warning notices will put some small firms out of business.
In the draft Financial Services Bill, the government proposed a consultation on giving the Financial Conduct Authority (FCA), one of the successors to the Financial Services Authority (FSA), the power to publicise when a warning notice has been issued against a firm. However, in written evidence to the Draft Financial Services Bill Joint Committee, the FSA has suggested this power should be given without consultation. The issue was raised during an evidence session before the committee this morning, where MPs and Peers questioned a number of industry experts on the proposed new regula...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes