FCA will spurn consumer body call to rate firms - lawyer

The panel wants the Financial Conduct Authority (FCA) to give firms a 'star rating', arguing regulatory fines had virtually no impact on whether or not consumers do business with a company. But Robbie Constance, regulatory lawyer at RPC,  said the FCA is unlikely to agree to a measure that could prove a "huge burden" if done properly. The FSCP wants a firm's regulatory history, service level data and consumer feedback combined into one simple rating to allow consumers to shop around and "shun miscreant firms". Heavier fines and penalties resulting from a tougher enforcement regime ...