The Financial Conduct Authority has set out the terms of a second consultation on its proposals to increase transparency about enforcement investigations. The regulator is seeking views on giving additional notice to firms at the centre of investigations before they are made public and the need to take into account the impact of the announcement on the firm and the wider market.

Steve Smart, joint executive director of enforcement and market oversight at the FCA, said: “We have made good progress in increasing the focus and pace of our enforcement work - so that we can prioritise the investigations most likely to drive meaningful deterrence across industry and deliver more timely outcomes. We want to hear further views on whether some increased transparency could work in practice.”