MPs have criticised the regulator's handling of last year's media blunder around an upcoming closed book review, saying it had been a "major self-inflicted distraction" and "created a false market in life insurance shares".
A report by the Treasury Select Committee said the regulator had breached its own listing rules by prematurely briefing a Telegraph journalist on an upcoming review of life insurers' closed book business, the BBC reported. It called on the regulator to commission further reviews of its internal procedures, saying "problems still exist" and it might not have "fully grasped this". The Financial Conduct Authority (FCA) had already commissioned an independent review last year, which led to Wheatley and other senior FCA officials losing their bonuses. Head of supervision Clive Adamson h...
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