The gratifying thing is that such a panel came to these conclusions.

Not gratifying is that the same criticisms having long been made by those in the financial sector have been derided or ignored - and have led to a culture of fear where risk and compliance officers dare not tell the regulator what's wrong.

"The key findings are:
● The FCA is widely seen as incompetent
● Its integrity is called into question
● A significant number of respondents believe the FCA sometimes acts in bad faith
● Its treatment of whistleblowers and their evidence is alarming
● There is a defective organisational culture, driven from the top
● Transparency and accountability is lacking
● The FCA’s Transformation Programme has not worked"

Don't settle for our brevity. Read the report. It is startling in its brutality - even within its scope. It didn't even look at the insanity of the FCA's Financial Crime rules.

https://www.appgifffs.org/wp-content/uploads/2024/11/FINAL-Call-for-Evi…