Reform the Financial Conduct Authority

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Reform the Financial Conduct Authority

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The Financial Conduct Authority (FCA) issues statements that can obliterate the life savings of ordinary people and cause the share prices of companies to plummet.

As UK Financial Services Regulator, their announcements have a profound impact on confidence, yet they have used, and continue to use inflammatory and prejudicial language despite the damage they inflict.

There is little recourse for those who suffer as a result; primarily because the FCA rejects the overwhelming majority of complaints it receives without any investigation, and appoints its own Complaints Commissioner with a narrow remit and no authority to enforce decisions on the FCA.

Without answerability, further damaging behaviour is inevitable, and the liberalisation of pensions will radically increase the number of those who will suffer as a result.

It is therfore vital that a truly independent Complaints Commissioner is appointed, and the business practices of the FCA are reformed.

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