The Transparency Task Force (TTF) has proposed three amendments to the Financial Services and Markets (FSM) Bill having become “increasingly concerned about the lack of effectiveness” of the Financial Conduct Authority (FCA) in relation to its responsibility for providing an appropriate degree of consumer protection.
The social enterprise convened a meeting with parliamentarians, former FCA employees and other stakeholders yesterday (15 September) to discuss amendments that could be made to the FSM bill to bolster consumer protection and promote consumer rights, especially after the regulator was accused of "hanging investors out to dry" in a recent episode of the BBC's ‘Panorama'. During the meeting, former FCA employee Jasthi Alom said: "The FCA demands transparency from the industry, however they themselves are incredibly opaque. Take the recent decision of not taking any action against HBOS - no...
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