Select committee: Financial Services Regulation Committee
Conclusion 1
1st Report - Naming and shaming: how not to regulate
Published 6 Feb 2025
Paragraph 29
Financial Services Regulation Committee FCA enforcement guidance consultation All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗
Conclusion (the committee's words)
The proposals contained in the FCA’s consultation document CP24/2, published in February 2024, represented a major change from the FCA’s previous approach to its enforcement work. The lack of engagement with stakeholders or of proper notification on the Regulatory Initiatives Grid was unacceptable. Furthermore, that the FCA was then surprised by the strength of reaction to its proposals suggests a worrying disconnect with industry on the part of senior FCA leadership.
From: Financial Services Regulation Committee, 1st Report - Naming and shaming: how not to regulate, paragraph 29, 6 February 2025
Government response
No government response is linked to this report.