Biba 2024: FCA to take its time on transparency proposals
Emily Shepperd, chief operating officer of the Financial Conduct Authority, has said the regulator was “overwhelmed” at the response and amount of feedback to its transparency proposals, and that it is going to “really take our time” when considering any possible next steps.
Earlier this year the FCA launched a consultation on a “step change” in being more transparent when opening an investigation into a firm including naming businesses.
Sixteen trade bodies, including the Association of British Insurers, wrote to the Chancellor slamming the FCA’s proposals.
The British Insurance Brokers’ Association has also weighed in with “grave concerns” on the ‘name and shame’ proposals and the backlash has extended to letters from the House of Lords Financial Services Regulation
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