The only way the halting of this inquiry can be justified is if the FCA has decided to drop the preamble and go straight for the prosecutions.
Does anybody here think that’s what’s going to happen?
It’s just another allegedly-“independent” organisation proving itself to be nothing of the kind.
The City regulator, the Financial Conduct Authority (FCA), has shelved plans for an inquiry into the culture, pay and behaviour of staff in banking.
The FCA had planned to see whether pay, promotion and other incentives contributed to misconduct seen in previous years.
The review was meant to be a major piece of work by the watchdog.
Mark Garnier MP, a Conservative member of the Treasury Select Committee said he was “disappointed” by the decision.
He said there may have been a political motive.
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