Select committee: Financial Services Regulation Committee
Conclusion 12
1st Report - Naming and shaming: how not to regulate
Published 6 Feb 2025
Paragraph 88
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 FCA’s assertion in its first consultation that its proposals would be consistent with approaches taken by other international regulators was misplaced and misleading. It is notable that it has changed the narrative on this, from emphasising commonality with other regulators in its first consultation, to highlighting the uniqueness of their remit in the second. Concerns that announcing investigations at the outset will impact on the UK’s competitiveness and risk positioning the UK as an outlier are warranted, and the FCA must be transparent about the further feedback it receives on these issues.
From: Financial Services Regulation Committee, 1st Report - Naming and shaming: how not to regulate, paragraph 88, 6 February 2025
Government response
No government response is linked to this report.