City AM quotes William Garner on FCA plans to 'name and shame' firms under investigation
In a consultation paper released this week, the FCA has set out a new approach to 'public interest' that will name firms under investigation in a bid to strengthen deterrence and encourage witnesses and whitleblowers to come forward.
However, the plans have drawn widespread criticism from City lawyers who warn that these plans to change enforcement rules could unfairly - and permanently - damage the reputation of firms before they are found to have committed any wrongdoing.
William Garner, Partner in our Financial Services Regulation & Funds team explains to City AM that the plans are a "worrying and somewhat sinister development". He adds:
“We have recently been concerned about instances of “trial by media” in the financial services sector and the sometimes very close relationship between the FCA and the press".
Read the full article in City AM here.
