‘Naming and Shaming’ Firms Under Investigation Could Hurt Economy: Chancellor

Published on May 1, 2024

Disclosing the names of companies at an early stage of investigation by the UK financial regulator could hinder economic growth, Chancellor Jeremy Hunt has suggested. His comments come after a consultation by the Financial Conduct Authority (FCA) on changing its “naming” policy ended on Tuesday. If greenlit, the plans will see the public updated on investigations, including their opening and progress, as well as the identity of the subject being investigated. This marks a change from the current approach in which investigations are only announced in very limited circumstances. Commenting on the “naming and shaming” plans by the FCA, Mr. Hunt said that if approved, the policy will hurt the financial services sector....

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