FCA confirms enforcement transparency after previous name and shame u-turn
The Financial Conduct Authority has published its Enforcement Guide, confirming the dropping of name and shame proposals in favour of keeping its ‘exceptional circumstances’ test.
The watchdog U-turned this March on proposals to switch to a public interest test for announcing enforcement investigations into regulated and listed firms.
We have made other changes to the Enforcement Guide to streamline the content and reduce duplication, reducing it by over 250 pages.
The FCA had opened a consultation in February 2024 on a “step change” in being more transparent. Normally, it does not comment on whether it is investigating an issue, and public notices appear only when the case
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