Whilst we supported the FCA’s aims of greater transparency and cutting down the time it takes to conclude enforcement investigations we emphatically rejected its proposal to announce the opening of an enforcement investigation and the name the firm involved. We said this flies in the face of natural justice and risks reputational damage to firms and possibly wider financial stability concerns. We emphasised that the |FCA has not sufficiently made its case as to why this new ‘name and shame’ approach is needed, when in our view, all of its objectives an already be achieved within its existing framework.