MPs have put their weight behind plans for the regulator to be able to publish warning notices about a firm, even before a final decision is made in the case.
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 suggested this power should be given without consultation. In a report out today MPs on the Committee reveal they have backed the FSA's stance. Industry figures had warned the Committee publishing warning notices would be the "de...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
