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Banking Culture Inquiry Shelved By Regulator Fca

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http://www.bbc.co.uk/news/uk-35204010

The City regulator, the Financial Conduct Authority (FCA), has shelved plans for an inquiry into the culture, pay and behaviour of staff in banking.

The FCA had planned to see whether pay, promotion and other incentives contributed to misconduct seen in previous years.

The review was meant to be a major piece of work by the watchdog.

It follows numerous revelations of misconduct including the Libor scandal, which emerged in 2012.

The FCA said it was working with individual firms to help them deliver "cultural change".

Better not to know, so don't investigate.

Ask me no questions and I'll tell you no lies.

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Particularly disappointed the FT is so explicitly supporting the 'end of banker bashing'. They should be helping to clean up the markets and bring back confidence. Instead under its editor it has retreated firmly back into the square mile.

FT owned by Nikkei. helps to have media in your pocket.

Osborne sacked Wheatley now tells them to scrap investiation of banks criminal practices.

Criminal. All feeds into Osbornes narrative that it was "labour borrowing" not reckless criminal banks who brought UK to its knees and enables him to slash size of state. Cant have truth interfering with his propaganda after all.

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The City of London calls the shots, unopposed, as it has since 1979.

Privatisation, deregulation, mass immigration, hpi.

Know your enemy!!

7746835_orig.jpg

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The City of London calls the shots, unopposed, as it has since 1979.

Privatisation, deregulation, mass immigration, hpi.

Know your enemy!!

+1 agree.

"...widely talked about that the Treasury thought the regulator was overdoing it in favour of the consumer..."

Embarrassing, great day to release such news that will quickly be forgotten about. Sligh.

Is anyone likely to be at the FCA today (let alone working)?

Or just placed in an envelope marked "Do not open until New Years Eve".

Edited by DarkHorseWaits-NoMore

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you cant have a policy that imprisons the policy users.

In my new job in the NHS, staff talk about having one foot in jail the moment you join....therefore, do things as per policy and you cant go wrong.

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So yet another regulator that doesn't want to regulate.

Give it a few years and like its predecessor the FSA likely it will have to be wound down after not spotting the excesses, fraud and other unexpected stuff and be replaced with something similar but with a slightly different name.

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