Source · Select Committees · Financial Services Regulation Committee
Recommendation 9
9
Paragraph: 72
It remains unclear, however, what specific criteria would guide the FCA’s assessment of ‘public interest’...
Conclusion
It remains unclear, however, what specific criteria would guide the FCA’s assessment of ‘public interest’ or how the FCA would evaluate the impact that it now recognises the announcements may have on firms and financial markets. Questions persist around the levels of discretion the public interest test affords the FCA, how consistency in decision making can be assured and how inconsistent outcomes would be avoided. Greater transparency in these processes is essential to ensure that firms and stakeholders have confidence in the fairness and consistency of the regulatory framework.
Paragraph Reference:
72