The end of April saw the Financial Conduct’s Authority’s (FCA) consultation on the public naming of investigation subjects close.

Widely referred to as a plan to name and shame, the proposal has sparked a backlash from the market, various influential trade bodies and politicians.

At the moment, anyone subject to investigation are not named until the FCA has finished its investigation and misconduct has been identified.

However, the FCA is now proposing to release information about opened investigations early, follow up on progress and announcing the closures of investigations where no further action was taken.

Notably, the FCA proposes to reveal details of the investigations, including details of the subject and what the potential misconduct might be.

In this article for Law360, James Tyler reviews the FCA’s proposals, their background and objectives and why they have attracted such ire and concerns. He also looks at how the FCA has responded to criticism and what the changes might mean for regulated firms and their advisers.