FCA chair: Name and shame plans 'valid' despite 'stern reaction'

Ashley Alder was speaking at a Treasury Committee hearing

Cristian Angeloni
clock • 4 min read

The Financial Conduct Authority’s (FCA) plans to introduce ‘naming and shaming’ of companies under investigation is “valid” and “suitable” for consultation, chair Ashley Alder has said.

In a Treasury Committee hearing yesterday (8 May), Alder told MPs the regulator was not "expecting such a stern reaction" to the proposals both from industry and government, after even Chancellor Jeremy Hunt criticised the plans. Alder explained the consultation aims to improve deterrence and strengthen the whistleblowing framework to ensure it is "more effective"; adding the naming proposals were born out of factors including speculation and rumour around cases and the impact these could have on public confidence. He also noted that on several occasions there had been "asks" from bod...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Treasury expected to start hunt for next FCA CEO – reports

Treasury expected to start hunt for next FCA CEO – reports

Process to begin in 2025

Sorin-Andrei Dojan
clock 11 November 2024 • 1 min read
Law, not likes: Cracking down on social media financial promotions

Law, not likes: Cracking down on social media financial promotions

‘Every individual social post or communication must comply with the rules’

Sarah Wylie and Owen McLennan
clock 28 October 2024 • 4 min read
How Labour can support investment management vibrancy

How Labour can support investment management vibrancy

The formation of a new government – now just over 100 days’ old – has brightened the spotlight on UK financial services regulation, writes IIMI CEO Dani Hristova

Dani Hristova
clock 28 October 2024 • 4 min read