Law360, London (November 16, 2018, 1:04 PM GMT) -- The boss of the Financial Conduct Authority has promised that it will carry out improvements to a crucial industry register amid concerns over the quantity of incorrect information being provided to consumers, correspondence released Friday reveals.
Andrew Bailey admitted in a letter to Nicky Morgan, chairwoman of the Treasury Committee, that there have been “issues in data quality” and some lax record-keeping on the FCA’s financial services register, which contains details of approximately 750,000 registered firms and individuals.
“There have been instances when information displayed on the register has been out of date," the head of the regulator wrote. “One of...
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