Appendix 3: Call for evidence
Scope
The Financial Services Regulation Committee is taking evidence on the FCA’s consultation paper CP24/2: Our Enforcement Guide and publicising enforcement investigations—a new approach. The Committee has issued a call for written evidence and will invite the FCA to provide oral evidence to the Committee at a later date. This call for evidence was reopened on 5 August 2024 following the Committee’s reappointment on 29 July 2024.
Background
In February 2024 the Financial Conduct Authority (FCA) published consultation paper CP24/2: Our Enforcement Guide and publicising enforcement investigations—a new approach. The consultation included proposals around how the FCA will “publicise our enforcement investigations to increase transparency about our enforcement work and its deterrent effect and to disseminate best practice.” The consultation closed on 30 April.
The Financial Services Regulation Committee, chaired by Lord Forsyth of Drumlean, wrote to the FCA on 18 April to express a number of concerns about the proposals contained in the consultation. The letter stated that: “the Committee intends to take evidence on this proposal and asks that you do not take further steps to implement this change until it has had the opportunity to do so and reach a final conclusion.”
- A copy of this letter can be found on the Committee’s website: https://committees.parliament.uk/publications/44344/documents/220473/default/
- The FCA responded to the Committee’s letter on 25 April: https://committees.parliament.uk/publications/44575/documents/221409/default/
- The Committee issued a further letter to the FCA on 1 May: https://committees.parliament.uk/publications/44587/documents/221454/default/
- The FCA responded to the Committee’s second letter on 7 May: https://committees.parliament.uk/publications/44678/documents/221942/default/
Call for evidence
The Financial Services Regulation Committee is seeking views on the proposals contained in the FCA’s consultation paper CP24/2: Our Enforcement Guide and publicising enforcement investigations—a new approach.
This call for evidence was originally opened on 8 May 2024, and was closed following the prorogation of Parliament on 24 May. It has been reopened, as of 5 August, following the reappointment of the Financial Services Regulation Committee on 29 July.
We invite anyone with expertise in or experience of the matters relating to consultation CP24/2 to share their views with the Committee, including views in favour of the proposals or concerns about the proposed changes.
Please note: The Committee cannot accept any submissions that have not been prepared specifically in response to this call for evidence, or that have been published elsewhere. Submissions made prior to the suspension of the call for evidence have been retained and do not need to be resubmitted.
This is a public call for written evidence to be submitted to the Committee. The deadline for submissions is 11.59pm on Friday 11 October 2024.