Committee examining FCA consultation CP24/2 on publicising enforcement investigations
9 May 2024
In February 2024 the Financial Conduct Authority (FCA) published consultation paper CP24/2: Our Enforcement Guide and publicising enforcement investigations—a new approach.
- Call for evidence
- Letter from Committee to FCA dated 18 April 2024: https://committees.parliament.uk/publications/44344/documents/220473/default/
- Response from FCA to Committee’s dated 25 April 2024: https://committees.parliament.uk/publications/44575/documents/221409/default/
- Further letter from Committee to the FCA dated 1 May 2024: https://committees.parliament.uk/publications/44587/documents/221454/default/
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.”
The FCA responded to the Committee’s letter on 25 April. The Committee issued a further letter to the FCA on 1 May.
The Committee is now seeking views on the proposals contained in the FCA’s consultation on publicising enforcement investigations ahead of taking evidence from the FCA on these proposals.
The Committee invites written submissions to its inquiry by 11.59pm on Tuesday 4 June.
Further information
Image: © Maks_Lab - stock.adobe.com