MPs urge wide-scale reform at FCA, in report that berates Bailey leadership

By Neasa MacErlean

The FCA has been heavily criticised for “failings of practice and culture” in a  report from MPs on the Treasury Committee. The report — on the regulatory shortfall over London Capital & Finance — makes excruciating reading for former CEO Andrew Bailey and the current director of Transformation Megan Butler. It implies — albeit in parliamentary language — that the organisation has not “strengthened its standing in the eyes of those it regulates or the wider public”.