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UK FCA audit reports call for better incident handling after insurance announcement

( February 8, 2016, 16:41 GMT | Official Statement) -- MLex Summary: The Financial Conduct Authority must improve its approach to crisis management and responding to incidents, according to internal audit reports published by a UK Parliament committee today. The FCA lacks a framework to support staffers responding to incidents and crises, and needs to make officials aware of the risks of dealing with market-sensitive information, according to the reports, which examined the regulator’s 2003 statement that pushed down insurers’ share prices.The Treasury Committee is today (8 February 2016) publishing further copies of FCA internal audit reports given to the Committee by the FCA’s Audit Committee....

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