Financial Conduct Authority said ‘issuing generalised trustworthy and poor practice guidance was unlikely to be of sufficient value’The City regulator has defended its decision to drop a review into banking culture and insists the Treasury did not exhaust its influence to encourage a softer approach towards the industry.
Responding to a freedom of information request, the Financial Conduct Authority (FCA) said: “We did not consult with any external body when considering whether we should discontinue our thematic review of culture in banks ... We did not advise any member of HM Treasury.”Continue reading...
Source: theguardian.com