IMA calls for restraint on publishing firm data

Responding to the FSA’s discussion paper ‘Transparency as a Regulatory Tool', the IMA says while transparency can be useful and is in line with Treating Customers Fairly, the value it will offer needs to be carefully balanced against cost and any unintended consequences. By proposing to publish information such as firm-specific complaints data and details on the use of its supervisory powers, the FSA runs the risk of publishing for publishing’s sake rather than achieving any real end for the consumer, according to the IMA. It also has specific concerns in relation to proposals to public...