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Britain’s financial regulator has said it will “fundamentally reshape” its plan to “name and shame” more companies as it investigates them after the proposals provoked a major backlash from politicians and the City of London.
Nikhil Rathi, chief executive of the Financial Conduct Authority, said it would present revised proposals “in the next week or so” before making a final decision early next year.
Speaking to a House of Lords committee, Rathi said: “This is not a case of us opening up the entire book of investigations — that was never our intention.”
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