The Financial Conduct Authority (FCA) has appointed Davies, a senior partner in Clifford Chance, to conduct an independant inquiry after its alleged intentions to investigate the insurance sector were leaked last month. Shares in the sector  fell drastically last month following the leaking of the FCA’s business plan, to The Telegraph, stating it would launch an inquiry into charges and restrictions on old policies. The body said it would like Davies to come up with the report “as quickly as is reasonably possible”.  The investigation will looking into the briefing, who authorised it and why a clarification to the markets took so long. Source: This is money