Recommendation 16

Our key concern following the publication of the first consultation was that the FCA had not found an acceptable balance between realising the potential benefits of increasing transparency to help prevent consumer harm, and managing the potential risks to firms, individuals and market stability. The revised proposals contained in CP24/2 Part 2, in particular the inclusion of a consideration of the ramifications of an announcement on firms and the markets, and the improved mechanisms for allowing firms more time to make representations to the FCA, correct some significant gaps in the original consultation.