OpinionAug 1 2014

Will the FCA admit when it’s wrong?

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In response to Gill Cardy’s column on the regulator sending out intimidating emails (FA, 17 July), an apology from the FCA would be admitting that it is wrong.

We all know that the FCA is never wrong and to prove it, it is spending nearly £2m on an enquiry into whether Adamson got it wrong or not when his premature announcement saw billions of pounds wiped off the share values of financial companies.

Of course, in line with the fact that the FCA is never wrong, where Adamson should have been suspended pending the outcome he is actually allowed to continue in his high profile role. I think we all know what the outcome of the enquiry will be.

Alan Kendrick

Independent financial adviser

Oakwood Financial Services

Peterborough