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UK's Financial Conduct Authority faces backlash for plan to early disclose investigations into firms.
The House of Lords Financial Services Regulation Committee has criticized the UK's Financial Conduct Authority (FCA) for its plan to publicly announce investigations into firms, arguing it could unfairly damage their reputations.
The FCA had proposed naming firms early in the process, even if no misconduct was found, but agreed to delay announcements by 10 days after facing criticism.
The committee stated the FCA failed to make a strong case for the change and its consultation process was inadequate.
The FCA will review the feedback before deciding its next steps.
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La Autoridad de Conducta Financiera del Reino Unido se enfrenta a una reacción negativa por el plan de revelar tempranamente las investigaciones en las empresas.