FCA officials grilled on second comms backlash

Tracey McDermott of the FCA
Tracey McDermott

UK members of parliament took the Financial Conduct Authority (FCA) to task today (January 20) for failing to accurately gauge the public perception of a dropped bank culture review, leading to a strong backlash.

Despite having raised the prospect of a "thematic review" of bank culture in its business plan for 2015/16, the FCA decided late in 2015 to abandon it. But rather than releasing the information publicly – for instance as a press release – the FCA told only the banks in question and a

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