The regulator has responded in somewhat draconian style to the Treasury Select Committee's (TSC)call for it to prevent a communications scandal of the kind that sent life companies' share prices plummeting last year. Here is what it has come up with...
In a response to the TSC's report, 'Press briefing of the FCA's Business Plan for 2014/15', the Financial Conduct Authority (FCA) said it has made a number of changes. These include a rule which will see journalists locked up in FCA rooms with their phones taken away, until the briefed information has been published on the regulatory newswire RNS. The report followed a briefing scandal in early 2014 involving the premature release of price sensitive information about an upcoming closed book review, which caused shares of some of the big insurers to plunge. The TSC's report was publ...
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