UK FCA Doubles Down on Naming Financial Firms Under Probes
- FCA wants to name those under investigation at earlier stage
- House of Lords committee raised concerns about market impact
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The UK’s financial watchdog pushed back against criticism of its plan to name firms it’s investigating at an early stage, which it thinks will boost transparency and deterrence.
The Financial Conduct Authority believes the proposals are timely, according to its response to a House of Lords Financial Services Regulation Committee published on Friday. Firms and consumers benefit from knowing which issues are in the watchdog’s sights, leading to better standards of conduct, it said.