Financial watchdog scraps plan to ‘name and shame’ UK firms under investigation

FCA move follows longstanding pressure against new public interest test for announcing investigations

• Top City watchdogs drop new diversity and inclusion rules
• Peers working for City firms dominate Lords scrutiny panel

The UK's financial watchdog has bowed to longstanding pressure and ditched a plan to frequently name and shame" companies it is investigating.

The Financial Conduct Authority (FCA) has decided not to go ahead with applying a new public interest test for announcing investigations into regulated firms given the lack of consensus" over the plans.