Backlash blunts edges of UK watchdog’s ‘naming and shaming’ plan

LONDON, June 5 (Reuters) – Britain’s markets regulator is expected to narrow down plans to name companies under investigation, four lawyers told Reuters, after a government and industry backlash labelled the proposals misjudged and harmful to London’s competitive ranking.

The anticipated move by the Financial Conduct Authority (FCA) is designed to defuse anger over plans that critics say risk dealing irreparable and unjustified damage to companies and to the finance industry, which contributes more than 10% of UK taxes.

Source: REUTER