Stride criticises FCA for not investigating Treasury leaks

Shadow Chancellor Mel Stride has criticised the FCA. (Image PA)

Shadow Chancellor Mel Stride has criticised the Financial Conduct Authority (FCA)’s decision to hold back from launching an investigation into whether the Treasury engaged in market manipulation before the Budget, adding that there was a risk of a “precedent” being set where confidential information is leaked “without consequence”.

Earlier on Thursday, FCA chair Nikhil Rathi confirmed the regulator had “not commenced an enforcement investigation” against the Treasury.

His letter to Treasury Select Committee chair Meg Hillier came after SNP parliamentary leader Stephen Flynn and Stride wrote to Rathi to call for an investigation.

Rathi said government communications around the Budget were a “matter for parliament through