FCA defends ‘name and shame’ proposals after backlash from City and Government
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK’s financial watchdog has said it was not expecting the “stern reaction” to its plans to “name and shame” firms it is investigating, after facing backlash from the City and the Government. During Wednesday’s Treasury Committee hearing, Mr Alder said: “In truth, we weren’t at the time we put this out expecting such a stern reaction as has come from industry. “It is important that no decision has been made so there is no decision to reverse.” We will take our time over this to make sure we get it right Nikhil Rathi, FCA Mr Rathi explained that there were issues with the FCA’s whistleblowing service, which encourages people to report a firm or individual if they suspect wrongdoing.
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