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Mark Kleinman: FCA is naming and shaming itself, not the City

The article by Mark Kleinman discusses the Financial Conduct Authority's (FCA) approach to regulating the financial sector in the UK. The FCA has been criticized for its strategy of "naming and shaming" firms, which Kleinman argues might be more reflective of the FCA's own shortcomings rather than effectively addressing misconduct in the City. He points out that while the FCA has been proactive in publicizing enforcement actions, this might not necessarily lead to better consumer protection or market integrity. Instead, it could be seen as a way for the FCA to demonstrate activity in the face of its own regulatory failures, such as not preventing the collapse of firms like London Capital & Finance or the issues with Neil Woodford's fund. Kleinman suggests that the FCA's focus on public shaming might distract from deeper systemic issues and the need for more substantial regulatory reforms.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/financial-regulation/mark-kleinman-fca-is-naming-and-shaming-itself-not-the-city/ar-AA1zph2x ]