Treasury sub committee in 'shock' over FCA's sustainable mis-selling omission

Treasury Committee

The Financial Conduct Authority 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 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.    Harriett Baldwin, chair of the Treasury's sub-committee on financial services regulation, asked Sacha Sadan, the FCA's director of ESG, and Mark Manning, technical specialist for sustainable finance and stewardship...