Call for Evidence

Background

In February 2024 the Financial Conduct Authority (FCA) published consultation paper CP24/2: Our Enforcement Guide and publicising enforcement investigations—a new approach. The consultation included proposals around how the FCA will “publicise our enforcement investigations to increase transparency about our enforcement work and its deterrent effect and to disseminate best practice.” The consultation closed on 30 April.

The Financial Services Regulation Committee, chaired by Lord Forsyth of Drumlean, wrote to the FCA on 18 April to express a number of concerns about the proposals contained in the consultation. The letter stated that: “the Committee intends to take evidence on this proposal and asks that you do not take further steps to implement this change until it has had the opportunity to do so and reach a final conclusion.”

• A copy of this letter can be found on the Committee’s website: https://committees.parliament.uk/publications/44344/documents/220473/default/
• The FCA responded to the Committee’s letter on 25 April: https://committees.parliament.uk/publications/44575/documents/221409/default/
• The Committee issued a further letter to the FCA on 1 May: https://committees.parliament.uk/publications/44587/documents/221454/default/

Call for evidence

The Financial Services Regulation Committee is seeking views on the proposals contained in the FCA’s consultation paper CP24/2: Our Enforcement Guide and publicising enforcement investigations—a new approach.

We invite anyone with expertise or experience of the matters relating to consultation CP24/2 to share their views with the Committee, including any views in favour of the proposals or concerns about the proposed changes.

Please note: The Committee cannot accept any submissions that have not been prepared specifically in response to this call for evidence, or that have been published elsewhere. 

This is a public call for written evidence to be submitted to the Committee. The deadline for submissions is 11.59pm on Tuesday 4 June.

ANNEX: Guidance for Submissions 

Written submissions should be submitted online, as a Word document. If you have difficulty submitting online, please contact the Committee staff by email at hlfinservreg@parliament.uk.

Short, concise submissions are preferred. Scientific and technical content should be accessible to non-specialist readers. Responses should not be longer than five sides of A4 in size 12 font. You may tell us about issues that we have not specifically asked about, but that are relevant to the topic of the inquiry. 

All submissions made through the written submission form will be acknowledged automatically by email. Once you have received acknowledgement that the evidence has been accepted you will receive a further email, and at this point you may publicise or publish your evidence yourself. In doing so you must indicate that it was prepared for the Committee, and you should be aware that your publication or re-publication of your evidence may not be protected by parliamentary privilege. 

Evidence which is accepted by the Committee may be published online at any stage; when it is so published it becomes subject to parliamentary copyright and is protected by parliamentary privilege. The Committee cannot accept any submissions that have not been prepared specifically in response to this call for evidence, or that have been published elsewhere. 

Personal contact details will be removed from evidence before publication, but will be retained by the Committee Office and used for specific purposes relating to the Committee’s work, for instance to seek additional information. 

Persons who submit written evidence, and others, may be invited to give oral evidence. Oral evidence is usually given in public at Westminster and broadcast online; transcripts are produced and published online. Persons invited to give oral evidence will be notified separately of the procedure to be followed and the topics likely to be discussed. 

Substantive communications to the Committee about the inquiry should be addressed through the Clerk of the Committee, whether or not they are intended to constitute formal evidence to the Committee. 

This is a public call for evidence. Please bring it to the attention of other groups and individuals who may not have received a copy directly. 

Diversity comes in many forms and hearing a range of different perspectives means that committees are better informed and can more effectively scrutinise public policy and legislation. Committees can undertake their role most effectively when they hear from a wide range of individuals, sectors or groups in society affected by a particular policy or piece of legislation. We encourage anyone with experience or expertise of an issue under investigation by a select committee to share their views with the committee, with the full knowledge that their views have value and are welcome. If you think someone you know would have an interest in contributing to the inquiry, please pass this on to them.