The FCA must investigate Budget leaks

cityam12-17 13:40

The FCA said the shake-up would help make ESG ratings more transparent The Financial Conduct Authority must launch a full, independent investigation into potential market abuse by the Treasury ahead ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe FCA must investigate Budget leaks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-12-17 13:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cityam.com/the-fca-must-investigate-budget-leaks/><strong>cityam</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The FCA said the shake-up would help make ESG ratings more transparent The Financial Conduct Authority must launch a full, independent investigation into potential market abuse by the Treasury ahead ...</p>\n\n<a href=\"https://www.cityam.com/the-fca-must-investigate-budget-leaks/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FCA","symbol_name":"First Trust China AlphaDEX Fund","start_time":0,"source_url":"https://www.cityam.com/the-fca-must-investigate-budget-leaks/","article_id":"2592864966","we_media_id":null,"thumbnails":["https://www.cityam.com/wp-content/uploads/2024/12/fca-reception-1-scaled-2-1.webp?w=824&h=463&crop=1"],"rights":{"source":"cityam_highlight","url":"https://www.cityam.com/the-fca-must-investigate-budget-leaks/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2592864966","pubTimestamp":1765950000,"columns":[],"sourceInfo":{"source_id":"cityam_highlight","name":"cityam"},"weMediaInfo":null,"summary":"The principle is longstanding: Budget information must be handled with the utmost care. As the chairman of ways and means has reminded the House, premature or selective disclosure of fiscal policy is “a supreme discourtesy” to Parliament and a breach of the Ministerial Code. It is also a potential breach of marketabuse rules.A leak inquiry is not a marketabuse investigation. It is not designed to assess whether information was selectively disclosed, whether statements were misleading, or whether markets were manipulated. It is an internal process run by the very department whose conduct is in question, and it’s not good enough.Markets and the British public do not need a Whitehallmanaged review. They need an independent regulator to do its job.The FCA’s recent letter to the Treasury select committee is deeply disappointing. Rather than launching an investigation, the re","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"FCA":"First Trust China AlphaDEX Fund"},"translate_title":"FCA必须调查预算泄露","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FCA":1.5},"content_text":"The FCA said the shake-up would help make ESG ratings more transparent The Financial Conduct Authority must launch a full, independent investigation into potential market abuse by the Treasury ahead of the Budget, says Blake StephensonMarkets rely on trust, clarity, and the even‑handed release of information. When those principles are compromised, confidence falters. That is why the Financial Conduct Authority (FCA) must launch a full, independent investigation into potential market abuse in the weeks before the Budget.This is not trivial, nor a fixation by the opposition on process, as ministers would have you believe. It goes to the heart of how the UK’s economy is governed, how ministers communicate with the public and our markets, and whether our regulators are willing to uphold the standards they claim to enforce.MPs – including myself – have been vocal in parliament about the troubling pattern of briefings, leaks and selective disclosures that preceded the Budget. The concern is simple: that the Treasury painted an unduly bleak picture of the public finances, despite receiving more positive information from the Office for Budget Responsibility weeks earlier. That pessimism fuelled speculation about tax rises and shaped market expectations. If ministers or officials knowingly disseminated misleading or incomplete information, that is not politics – it is potentially unlawful.\n\nThe principle is longstanding: Budget information must be handled with the utmost care. As the chairman of ways and means has reminded the House, premature or selective disclosure of fiscal policy is “a supreme discourtesy” to Parliament and a breach of the Ministerial Code. It is also a potential breach of market‑abuse rules.\n\n\n\n\n\n\nFree Thinking - City AM Opinion Newsletter\nGet weekly sparky insight and expert commentary on markets, entrepreneurship and innovation from City AM’s Opinion Editor, delivered every Saturday.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe government’s response has been to insist that all communications were appropriate and that any concerns should be addressed through internal processes. The Treasury has launched its own leak inquiry, and ministers have argued that this is the proper route.Having spent 15 years before entering parliament working in regulatory compliance, I know all too well that the FCA expects failures to be investigated by an independent party,not the very department at fault. And quite right too. \n\nA leak inquiry is not a market‑abuse investigation. It is not designed to assess whether information was selectively disclosed, whether statements were misleading, or whether markets were manipulated. It is an internal process run by the very department whose conduct is in question, and it’s not good enough. Markets and the British public do not need a Whitehall‑managed review. They need an independent regulator to do its job.The FCA’s recent letter to the Treasury select committee is deeply disappointing. Rather than launching an investigation, the regulator has said that government communications are “a matter for Parliament” and that it will simply stay informed about the Treasury’s internal inquiry.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2592864966","isCrawlerRequest":true}