Jeremy Hunt calls on FCA to 're-look' at name and shame policy – reports

Following industry backlash

Cristian Angeloni
clock • 2 min read

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...

To continue reading this article...

Join Investment Week for free

  • 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

Join now

 

Already an Investment Week
member?

Login

More on Regulation

FCA withdraws nearly 20,000 misleading financial ads in 2024

FCA withdraws nearly 20,000 misleading financial ads in 2024

Nearly double the amount in 2023

Isabel Baxter
clock 10 February 2025 • 1 min read
UK Settlement Task Force sets out timeline for T+1 transition

UK Settlement Task Force sets out timeline for T+1 transition

Live from October 2027

Linus Uhlig
clock 07 February 2025 • 2 min read
House of Lords committee slams FCA over 'unacceptable' name and shame plans

House of Lords committee slams FCA over 'unacceptable' name and shame plans

‘Not the way to regulate’

Isabel Baxter
clock 06 February 2025 • 4 min read
Trustpilot