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OPINION: APPG report on the FCA lacks substance

FCA buiding
Photo: FCA

A failure to understand the role of a regulator or the operation of financial markets, plus lack of substantiation, undermines the parliamentarians’ report.

Disappointingly, given the two and a half years invested into this evidence-gathering project, the output is a very weak and confused document rather than something that is “potent, powerful and purposeful,” as has been claimed.

The report itself is compromised, at its very outset, by the disclaimer which blandly states