The Financial Conduct Authority’s consultation into ‘naming and shaming’ companies under investigation was “valid” and “suitable” for consultation, claimed chair Ashley Alder.
In a Treasury Committee hearing yesterday (8 May), Alder told MPs the regulator was not "expecting such a stern reaction" to the proposals both from industry and government, after even Chancellor Jeremy Hunt criticised the plans. Jeremy Hunt calls on FCA to 're-look' at name and shame policy – reports Alder explained the consultation aims to improve deterrence and strengthen the whistleblowing framework to ensure it is "more effective"; adding the naming proposals were born out of factors including speculation and rumour around cases and the impact these could have on public confidenc...
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