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...
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