UK regulator will consider criteria for "naming and shaming" companies

FILE PHOTO: FCA signage seen at their head offices in London

LONDON (Reuters) - The Financial Conduct Authority (FCA) said on Wednesday it would consider the criteria for naming a company under investigation as its top officials defended a controversial proposal criticised for risking damaging Britain's competitiveness.

Grilled by the cross-party Treasury Committee of lawmakers, FCA Chair Ashley Alder said the regulator had not expected such a "stern reaction" to its plans to "name and shame" companies under investigation early in a move aimed at detering wrongdoing and boosting transparency.

FCA Chief Executive Nikhil Rathi said the FCA would take several months to consider feedback from its consultation before announcing its next move.

(Reporting by Huw Jones and Kirstin Ridley)