---
title: FCA enters second phase on greater transarency proposals
description: The FCA has entered the second phase of its consultation on greater transparency for enforcement investigations, addressing feedback on its original proposals.
---

[News & insights ](https://www.plenitudeconsulting.com/news-insights)

# [FCA enters second phase on greater transarency proposals](https://www.plenitudeconsulting.com/news-insights/fca-enters-second-phase-on-greater-transarency-proposals)

 Written by [Insight & Partnership Team](https://www.plenitudeconsulting.com/news-insights/author/insight-partnership-team) | Nov 29, 2024 2:23:24 PM

 

The FCA is refining its approach to balance public interest with fairness to firms.

Key points of the consultation include:

- Impact on Firms: The FCA now proposes factoring in the impact on a firm when deciding whether to announce an investigation and name the firm, ensuring a fairer public interest test.
- Extended Notice Period: Firms would receive 10 business days’ notice, plus an additional 2 days before an announcement is made. This replaces the initially proposed 1-day notice, allowing firms more time to respond or prepare their own announcement.
- Market Confidence: The FCA suggests adding the risk of serious disruption to public confidence in the financial system or markets as a new consideration in the public interest test.
- Exclusion of Ongoing Investigations: The FCA will not proactively announce investigations already underway when the proposals take effect. These will remain subject to the existing “exceptional circumstances” policy.

📅 The FCA is seeking feedback on these revisions, offering an opportunity for industry voices to shape this important shift in enforcement transparency. Firms have until 17 February 2025 to respond.

[View full post](https://www.plenitudeconsulting.com/news-insights/fca-enters-second-phase-on-greater-transarency-proposals)

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