House of Lords committee slams FCA over 'unacceptable' name and shame plans

‘Not the way to regulate’

The House of Lords Financial Services Regulation Committee (FSRC) has called on the Financial Conduct Authority (FCA) not to proceed with its plan to name and shame firms under investigation.

The regulator initially set out to plans to publicly name firms under investigation if it was in public interest. Previously, this was only done in exceptional circumstances. City minister Emma Reynolds: 'We have failed to drive an investment culture' in the UK Following the House of Lords inquiry on the FCA's consultation paper on publicising enforcement investigations, the FSRC - established last year - has today (6 February) published its first report, Naming and shaming: how not to regulate. The committee concluded that the FCA has not made a convincing case for a change to its...