Chancellor Jeremy Hunt has criticised the Financial Conduct Authority over its plans to name and shame companies under investigation.
Speaking to the Financial Times, he said he hopes the FCA "re-look at their decision". Hunt's remarks follow backlash from the financial services industry, including several trade bodies, over the plans, which the regulator claimed aim to boost transparency and work as a deterrent. Naming and shaming companies under investigation before any wrongdoing is found could have "disastrous" consequences for the business, said PIMFA CEO Liz Field, potentially leading to "clients leaving in droves" before any guilt or misconduct is determined. Trade bodies call for Chancellor to stop FCA 'n...
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