FSCP: Publish warning notices without consulting firms

One of the most controversial measures currently being proposed in the Financial Services Bill will allow the Financial Services Authority successors to publicise that firms or individuals are the subject of enforcement action before a decision has been made. However, the influential FSCP has insisted the new powers should be even stronger and do away with the need to consult with the firms or individuals first. "There is a danger that this creates ambiguity and delays in publishing information which is beneficial to consumers," it said. In this respect, the term used in the Bill o...