FCA appoints external law firm to conduct inquiry

The FCA Non-Executive Directors have appointed Simon Davis, a senior Commercial Litigation Partner at Clifford Chance, to conduct an independent inquiry into the handling of the FCA’s announcement of proposed supervisory work on the fair treatment of long standing customers in life insurance.

Simon Davis has nearly 30 years expertise in corporate and financial institution investigation.

The inquiry will be overseen by a committee of the non-executive directors of the FCA’s Board chaired by John Griffith-Jones, the FCA’s Chairman.

Chairman of the Treasury Committee, Andrew Tyrie MP, said:

“The Treasury Committee will be seeing Mr Davis shortly. It is vital that this investigation is wholly independent of the regulator.

“We will want to take evidence from Mr Davis once he has reported.”