On the FCA’s latest update not to take forward its proposals to publicise enforcement investigations:
ABI Director General Hannah Gurga said: “The FCA’s decision to not take forward its proposals to publicise enforcement investigations is extremely welcome. We’ve consistently stressed that this would have had detrimental impacts on consumers, firms, and the reputation of the UK’s regulatory system. So we fully support its decision to drop this approach. We’re also pleased to see that its latest proposals are in line with our call for a continuation of its current process, with a small number of additional powers to address specific gaps.”
On its update on diversity and inclusion:
ABI Director General Hannah Gurga said: “Advancing and promoting diversity, equity and inclusion, and improving representation in the workplace is vital to an effective insurance and long-term savings industry. While we had supported the FCA’s proposals, we will continue to champion DEI across our industry through our Blueprint, Allyship Awareness training, and collaboration with members and stakeholders. We await the regulator’s update on its non-financial misconduct work later this year.”
