CII warns of creeping FCA powers

The Treasury said the FCA, one of the two successors to the FSA and responsible for the conduct of businesses across the industry, will take a more proactive approach, specifically when dealing with firms with a "lower risk threshold" for potential consumer detriment. It will also be able to publish warning notices against firms and may ban businesses from dealing with individual products if they are not being sold or distributed correctly. In its response to the consultation on the FCA, the CII said: "New powers for transparency, disclosure and early publication could, if used hastil...