FCA proposes giving 10 days’ notice before revealing identities of firms under investigation and will consider market impact

The City regulator has bowed to pressure over plans to “name and shame” some companies it investigates, offering watered-down proposals that would give firms 10 days’ notice and consider the “potential negative impact” of revealing the identities of companies under inspection.

The Financial Conduct Authority (FCA) put forward new proposals on Thursday after months of intense criticism from businesses, which have tried to thwart the watchdog’s plans to be more transparent with the public and whistleblowers when it is investigating potential wrongdoing across the City.