FCA makes “significant changes” to ‘name and shame’ proposals
The Financial Conduct Authority is making four “significant changes” to its initial transparency proposals labelled ‘name and shame’.
In the Consultation Paper part 2: Greater transparency of our enforcement investigations, published today, the regulator proposes the potential negative impact of an announcement on the relevant firm will explicitly form part of the public interest test. Previously it was not included as one of the factors, and it will be central to the FCA’s consideration of whether to announce an investigation and name a firm.
The FCA also plans to give firms a copy of any draft announcement and 10 business
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