FCA's Ashley Alder: Name and shame consultation 'valid' despite 'stern reaction'

Treasury Committee hearing

The Financial Conduct Authority’s consultation into ‘naming and shaming’ companies under investigation was “valid” and “suitable” for consultation, claimed chair Ashley Alder.

In a Treasury Committee hearing yesterday (8 May), Alder told MPs the regulator was not "expecting such a stern reaction" to the proposals both from industry and government, after even Chancellor Jeremy Hunt criticised the plans. Jeremy Hunt calls on FCA to 're-look' at name and shame policy – reports Alder explained the consultation aims to improve deterrence and strengthen the whistleblowing framework to ensure it is "more effective"; adding the naming proposals were born out of factors including speculation and rumour around cases and the impact these could have on public confidenc...