Experts respond to FCA shelving ‘flagship initiatives’ on enforcement, D&I and non-financial misconduct
The Association of British Insurers has welcomed the Financial Conduct Authority’s decision not to push ahead with enforcement investigation publicity plans, also known as ‘name and shame’.
The FCA confirmed today that it had found a lack of consensus on its proposed steps and instead u -turned sticking to current processes.
Hannah Gurga, director general of the ABI said: “The FCA’s decision to not take forward its proposals to publicise enforcement investigations is extremely welcome.
“We’ve consistently stressed that this would have had detrimental impacts on consumers, firms, and the reputation of the UK’s regulatory system. So we fully support its decision to drop this approach.
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