On February 17, ISDA and the Association for Financial Markets in Europe (AFME) responded to the UK Financial Conduct Authority’s (FCA) consultation on greater transparency of enforcement decisions. The FCA’s proposal, which gives it the ability to publicly name firms at the start of an investigation, continues to cause trepidation across the industry. In the response, ISDA and AFME highlight concerns that the current proposals are harmful to UK competitiveness and growth and suggest a broader interpretation of the existing exceptional circumstances test could be used to meet the FCA’s objectives. This is the second consultation ISDA and AFME have responded to. The first response from May 7, 2024 is available here.
Documents (1) for ISDA and AFME Response to FCA on Transparency of Enforcement Decisions
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