| Link(s): | FCA response LFSRC |
Context
The FCA has written to Lord Forsyth of Drumlean at the House of Lords Financial Services Regulation Committee in response to the Committee’s letter to the FCA of 18th April 2024 about Consultation Paper CP24/2: “Our Enforcement Guide and publicising enforcement investigations – a new approach”. The letters relate to the FCA’s proposed changes to publicising enforcement investigations. The response was sent from the joint Executive Directors leading on this consultation.
The FCA stated that it welcomes the Committee’s interest in this topic and appreciate its role in scrutinising Consultations of significant importance under the recently enhanced accountability framework for financial regulators. The FCA noted that it had also “taken note of the additional points made in your associated press release”.
Key points to note and next actions
- The letter itself is nine pages long, with an added 20 pages of Annexes providing detailed information in relation to the purpose of and intentions behind the Consultation.
- The FCA’s response is certainly a defence of the FCA’s position as Consulted on, but appears to represent a series of re-considerations on the FCA’s part.