FCA clarifies when it will name and shame insurance firms

The FCA has clarified when it will name and share insurance firms after finalising revisions to its Enforcement Guide.

Last year, the regulator proposed applying a new public interest test, which would have allowed it to name firms under investigation if deemed to be in the public interest.

However, the plans were condemned by a wide range of financial services and business organisations.

In March 2025, the FCA said that it would not take forward the proposal and stick to its stricter exceptional circumstances test.

In its updated policy statement, published yesterday (3 June 2025), the FCA confirmed that it can only name subjects of investigations in a limited set of circumstances.

This includes when the watchdog is investigating suspected unauthorised financial services, or a suspected offence relating to unregulated activity, and an announcement can warn consumers or help with the investigation.

The regulator can also still confirm it is investigating a subject if an affiliated company, regulatory body, government or public body has made that fact public.

The FCA also said it can make anonymised announcements without naming the subject of an investigation when “it would be helpful to educate people on the types of misconduct we are investigating”.

Speed of investigations

Meanwhile, the FCA also said that it will continue to improve the pace and focus of its investigations, “increasing the impact of our work for the benefit of consumers and markets, and therefore the wider economy”.

”We recognised that our average investigation times were too long,” the watchdog said.

”We have focused our portfolio of enforcement cases in line with our strategic priorities and significantly accelerated our investigations. As a smarter regulator, we will support growth, help consumers and fight crime. With sharpened focus, we will have more impact.”

It added that it had also raised the bar for opening an investigation and strengthened pre-investigation assessment processes.

“This is resulting in fewer and faster investigations, while also making full use of our supervisory intervention powers that don’t involve enforcement investigations,” the FCA said.