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Select committee: Financial Services Regulation Committee

Recommendation 19

1st Report - Naming and shaming: how not to regulate Published 6 Feb 2025 Paragraph 118

Financial Services Regulation Committee FCA enforcement guidance consultation All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗

Recommendation (the committee's words)
Regardless of the extensive changes which have now been published in CP24/2 Part 2, the initial failures in communication and engagement remain a concern. The FCA should review its internal processes and communication strategies employed throughout this process, including a review of how appropriate its internal processes were for consulting on a change of this scale. The FCA should publish a ‘lessons learnt’ document from this process, setting out where it went wrong and how it will prevent similar mistakes from occurring in the future.

From: Financial Services Regulation Committee, 1st Report - Naming and shaming: how not to regulate, paragraph 118, 6 February 2025

Government response

No government response is linked to this report.