The regulator stated that due to a lack of consensus it will not be pursuing its plans to shift from an exceptional circumstances test to a public interest test for investigation announcements.
The FCA went on to say that it will still be confirming investigations already in the public domain; public notifications which focus on the potentially unlawful activities of unregulated firms and regulated firms operating outside the regulatory perimeter — It will also be publishing greater detail of issues under investigation on an anonymous basis.
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The proposals are now set to be taken forward, with the regulator publishing its final policy by the end of June.
Commenting on the new proposal Nikhil Rathi, CEO at the FCA, commented: “We are speeding up our enforcement work.
“On our enforcement transparency proposals, we have always aimed to build a broad consensus. Considerable concerns remain about our proposal to change the way we publicise investigations into regulated firms, so we will stick to publicising in exceptional circumstances as we do today.
“We will implement changes which have commanded wider support and which we believe will help support our efforts to protect consumers from harm."
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