The Financial Conduct Authority (FCA) believes the scathing report by MPs released today is “not a fair representation” of the regulator.
When questioned on the report at Defaqto's Future of Advice conference today (26 November), FCA head of department for advisers, wealth and pensions Nick Hulme said that he does "not agree with the characterisation of the MPs statement". This comes after MPs claimed that the FCA is failing to perform its functions properly and its integrity was questioned. According to the All-Party Parliamentary Group, the FCA "too often fails to perform its functions to a reasonable standard", with particular gaps in performance noted across its consumer protection field, where the regulator is "slo...
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