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UK lawmakers slam financial services watchdog over 'name and shame' proposal

( February 6, 2025, 00:01 GMT | Official Statement) -- MLex Summary: The failure by the UK financial watchdog’s leadership to anticipate the strength of the backlash to its plan to start publishing details of its investigatory work suggests a “worrying disconnect with industry” and the lack of engagement with stakeholders was “unacceptable,” a House of Lords committee said in a damning report titled “How not to regulate.” The FCA still hasn’t demonstrated how the proposals align with its growth and competitiveness objective, nor that a departure from only naming firms in “exceptional circumstances” is warranted, the Financial Services Regulation Committee said. Statement below, report attached. ...

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