Source · Select Committees · Financial Services Regulation Committee
Recommendation 6
6
Paragraph: 63
The original proposal giving firms 24 hours’ notice of the announcement of an investigation was...
Conclusion
The original proposal giving firms 24 hours’ notice of the announcement of an investigation was insufficient given the amount of activity required to prepare for such an announcement. The revised proposal, to give firms 10 business days to make representations, is a sensible change but we expect the FCA to consider carefully any consultation responses on whether the two days’ notice of publication of any announcement is sufficient for firms.
Paragraph Reference:
63