Source · Select Committees · Financial Services Regulation Committee
Recommendation 1
1
Paragraph: 29
The proposals contained in the FCA’s consultation document CP24/2, published in February 2024, represented a...
Conclusion
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.
Paragraph Reference:
29