FIA and FIA European Principal Traders Association have submitted a joint response to the Financial Conduct Authority’s second consultation on proposals relating to investigations and enforcement.
While the associations appreciate the FCA’s efforts to address many of the concerns raised in the initial consultation phase in 2024, member firms remain convinced that the proposals, publicly referred to as ‘naming and shaming’, are unsuitable in UK wholesale markets.
The associations encourage the FCA to consider the concerns set out in response to the consultation paper and consider alternative methods already available to the FCA to improve transparency and achieve its desired outcome.
“We are confident that the FCA’s objectives can be achieved through existing means, which allow for the FCA to publish timely information about investigations in a robust and effective way in order to raise consumer awareness, protect consumers, maintain market confidence, educate the market and deter misconduct,” the response says.
Read the response in full.
