The Financial Conduct Authority (FCA) has reportedly decided to scale back its plans to publicly disclose the names of firms under investigation, according to the Financial Times.
The regulator today (March 12) announced that it will no longer move forward with its proposal to introduce a public interest test for naming companies. Instead, the FCA will maintain its current approach, which only allows for disclosure in exceptional circumstances. FCA CEO Nikhil Rathi said: "We are speeding up our enforcement work. On our enforcement transparency proposals, we have always aimed to build a broad consensus. "Considerable concerns remain about our proposal to change the way we publicise investigations into regulated firms, so we will stick to publicising in except...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
