FCA's cancelled name and shame policy 'deeply flawed from the outset'

'Significant development’

The Financial Conduct Authority’s has backpedalled on its plan to publicly name firms under investigation after receiving widespread industry backlash, with one lawyer describing it as “deeply flawed from the outset”.

The FCA today (12 March) scrapped its controversial plan to publicly name firms under investigation, marking a significant retreat from one of its most high-profile proposals. Its decision has come after industry criticism, with Kingsley Napley financial services regulatory partner Jill Lorimer saying the U-turn is "a hugely significant development". The FCA will instead maintain its current approach, which only allows for disclosure in exceptional circumstances. FCA drops plan to name and shame firms under investigation The regulator's decision signals a change in direction and co...