The Treasury is set to take control of the appointment of the next Financial Regulators Complaints Commissioner, the body responsible for investigating complaints against the City’s financial regulators.
The FRCC allows firms to complain about decisions issued by the City's key watchdogs: the Financial Conduct Authority, Prudential Regulation Authority and the Payments Systems Regulator. According to a report by Sky News, ministers will select the FRCC's chief, an appointment previously overseen by the regulators themselves, in a bid to increase the body's independence in the midst of a testy period for them and the government. Andrew Griffith raises concerns over FCA's Consumer Duty rules - reports The FRCC is currently led by commissioner Amadeep Somal, who was appointed by the B...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
