UK Treasury questions timetable on contentious fraud compensation plan

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Financial Times 13h ago

UK Treasury questions timetable on contentious fraud compensation plan - Financial Times

Quick Summary:

Treasury concerns about the FCA’s approach came to a head earlier this year — when Hunt was still chancellor — over the authority’s plans to “name and shame” companies being probed even before any finding of wrongdoing.

Other regulators, such as the Financial Conduct Authority and the competition and accounting watchdogs, have also come under pressure to do more to promote the UK as an attractive place to do business.

Both Reeves and Jeremy Hunt, the former Tory chancellor, have been in agreement that some decisions taken by City regulators appeared to neglect this obligation.