FCA to appear in front of Treasury Committee amid ‘naming-and-shaming' controversy
FCA bosses Ashley Alder and Nikhil Rathi, Chair and Chief Executive respectively, will face questions from MPs next Wednesday afternoon as part of the Committee’s ongoing scrutiny of the regulator’s work.
It comes amid a lively public debate on the regulator’s proposals to potentially publicise enforcement investigations while they are still underway, rather than after an outcome is reached as is the current process.
Meeting details
MPs are likely to ask witnesses how the regulator would like to respond to the criticism from stakeholders, as well as whether their plans are likely to be affected by the backlash.
The Committee may also choose to probe the panel’s view on their work regarding potential compensation for now-banned motor finance commission packages, and how this may compare to the PPI crisis.
Other issues which may be raised include the implementation of the Consumer Duty and the work being done by the regulator to deliver on its secondary growth and competitiveness objective.