FCA plans to name firms under investigation in UK deterrence drive

The UK Financial Conduct Authority is planning to name firms under investigation more frequently and at a much earlier stage in an effort to increase the deterrence effect such probes can have on the market.

***

The FCA has historically published very little about its investigations until they are resolved through penalties such as fines or criminal charges, only commenting in “exceptional circumstances”, said Chambers, who took up her role last April.

Under the new approach, the regulator would adopt a looser “public interest” test in the hope that naming entities under investigation would encourage witnesses and whistleblowers to come forward.

Source: FCA plans to name firms under investigation in UK deterrence drive