Source · Select Committees · Financial Services Regulation Committee
Recommendation 17
17
Paragraph: 115
The revised proposals, however, do not resolve the fundamental issue that by broadening the justification...
Conclusion
The revised proposals, however, do not resolve the fundamental issue that by broadening the justification for proactively announcing investigations, it could increase the risk that investigations could be announced, reputational damage to firms could occur, media speculation could arise, but no regulatory action is ultimately taken. We remain unconvinced that the proposed public interest framework will allow for proportionate and consistent decision making over whether to announce an enforcement investigation early.
Paragraph Reference:
115