FCA drops two more banking industry probes: The Times
LONDON – The Financial Conduct Authority (FCA) has scrapped two more probes into the banking industry, The Times reported on Thursday, less than a day after the regulator dropped another review of Britain’s banking culture.
The FCA has closed a study into the way lenders incentivise their staff to sell financial products and will shelve an investigation of how insurers use customer information, The Times reported.
The regulator said earlier on Thursday it had scrapped a public review of Britain’s banking culture, opting instead to work with lenders individually to address any concerns.
The FCA could not be reached for comment outside regular business hours. -Reuters