MPs in 'shock' over FCA's sustainable mis-selling omission

Treasury Committee sub-committee hearing with the Financial Conduct Authority

Sian Barnett Wike
clock • 3 min read

The Financial Conduct Authority (FCA) has conceded to not having analysed the possible costs to consumers of mis-sold 'sustainable' funds.

An evidence session was hosted by the Treasury Committee's Financial Services Regulations Sub-Committee yesterday (22 February) to examine the FCA's proposed Sustainability Disclosure Requirements (SDR) reforms. At the session, the chair of the investigating committee expressed her "shock" at the regulator's lack of research into the potential cost implications for retail investors of its fund labelling proposals.    Sub-committee chair Harriett Baldwin asked FCA director of ESG Sacha Sadan and technical specialist for sustainable finance and stewardship Mark Manning if they had calcu...

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