By now, you may have heard that the UK Financial Conduct Authority (FCA) is consulting on changes to its approach to publicising enforcement investigations, as well as other changes to its Enforcement Guide. If they come into...more
3/4/2024
/ Banking Sector ,
Capital Markets ,
Employment Litigation ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Insurance Industry ,
Investigations ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
UK
The Financial Conduct Authority (FCA) and Prudential Regulation Authority’s (PRA) recent proposals demonstrate a divergence in approach when it comes to individual accountability and expectations of senior management in...more
The UK Financial Conduct Authority's consultation on diversity and inclusion (D&I) in financial services proposes new rules and guidance on identifying and taking action in relation to non-financial misconduct such as...more
12/14/2023
/ Bullying ,
Diversity and Inclusion Standards (D&I) ,
Employee Misconduct ,
Employees ,
Employer Liability Issues ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
International Labor Laws ,
Proposed Rules ,
Prudential Regulation Authority (PRA) ,
Senior Managers ,
Sexual Harassment ,
UK
Last week, the FCA published its Annual Report for 2022/23, which included the usual FCA annual enforcement performance data. Below we have selected 10 key points from the Annual Report that are interesting from an...more
Although, the FCA’s press release announcing its enforcement action against Sigma Broking Limited (Sigma) refers to “market abuse reporting failures”, some of the most interesting points in this case do not relate to the...more
The UK Financial Conduct Authority’s (FCA) shift towards consumer protection is intensifying. At the same time, it is gearing up to become a more assertive regulator, intervening more frequently, following the example of its...more
As the dust looks like it is starting to settle on the Covid-19 pandemic, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have been busy resuming their enforcement agendas.
Originally...more
Despite concerns being raised through the consultation process, the Financial Conduct Authority (FCA) has implemented its proposals to shift some decision making from the Regulatory Decisions Committee (RDC) to senior FCA...more
The Financial Conduct Authority (FCA) has imposed a ban on a financial adviser with a criminal conviction for non-financial misconduct, despite the case being contested in the Upper Tribunal. Although the FCA’s policy on...more
The UK Financial Conduct Authority (the FCA) is proposing to take enforcement action against an individual, Jon Frensham, relating to "non-financial misconduct". The FCA has made clear its commitment to tackling...more
The FCA's focus on market abuse is nothing new. Frequent references to the FCA's focus on tackling market abuse have featured in every single one of its Business Plans since 2013/14, with similar references also running...more
In October 2020 the FCA issued a Final Notice to Asia Research and Capital Management Ltd (ARCM). The FCA found that between 22 February 2017 and 3 December 2019, ARCM failed to make a number of notifications to the FCA and...more
In this decision report, we consider the FCA’s decision notices issued to the former chief executive, sales director and compliance officer of Keydata Investment Services Ltd in connection with the sale of structured...more
Tackling market abuse continues to be a strategic priority for the FCA. In late 2014, the FCA undertook a thematic review into asset management firms and the risk of market abuse, the results of which were published in...more
5/25/2015
/ Asset Management ,
Compliance ,
Enforcement ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Fund Managers ,
Insider Trading ,
Risk Management ,
Risk Mitigation ,
Trade Market Abuse
We consider here the FCA's enforcement action against Kenneth Carver for committing market abuse (insider dealing) in breach of section 118(2) of the Financial Services and Markets Act 2000 (FSMA) when purchasing shares on...more
In this case report we consider enforcement action taken by the FCA in relation to three former senior executives of a large retail insurance firm (the former Chief Executive, Finance Director and Marketing Director). This...more
On 6 May 2014, the Chancellor of the Exchequer announced that HM Treasury would undertake a review of the enforcement decision making processes for the Financial Conduct Authority (the FCA) and Prudential Regulation Authority...more