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Penalties Financial Conduct Authority (FCA)

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - July 2024 Updates

CryptoLink is a compilation of news stories published by outside organizations. Akin aggregates the stories, but the information contained in them does not necessarily represent the beliefs or opinions of the firm. Akin's...more

American Conference Institute (ACI)

U.K. Parliament Giving Whistleblower Protections a Fresh Review

Recent legislative developments in the United Kingdom, public remarks from the new director of the UK Serious Fraud Office (SFO), and recent parliamentary hearings on the Post Office Horizon scandal put a spotlight on...more

Dechert LLP

The dawn of a new era: Digital Markets, Competition and Consumers Bill introduced to Parliament

Dechert LLP on

The UK’s long-awaited Digital Markets, Competition and Consumers Bill, published this week, brings in a new antitrust regime for Big Tech in the UK. The Bill provides statutory footing and powers for a new body, the...more

WilmerHale

OFSI Issues Updated Guidance Relating to Assessments of due Diligence Conducted in Relation to the “Ownership and Control” Test,...

WilmerHale on

The Office of Financial Sanctions Implementation (OFSI) has updated its ‘enforcement and monetary penalties for breaches of financial sanctions’ guidance, which was last updated in June 2022. ...more

A&O Shearman

EU Publishes Final Amendments to Cash Penalty Process for Cleared Trades

A&O Shearman on

The European Securities and Markets Authority has published its Final Report and draft Regulatory Technical Standards amending the cash penalty process for cleared transactions under the EU Central Securities Depositories...more

Akin Gump Strauss Hauer & Feld LLP

[Podcast] The SEC and FCA Annual Reports: Facts, Figures, Trends

In this episode, Akin Gump financial regulatory partner Helen Marshall and white collar defense and government investigations practice co-head Michael Asaro look at SEC and FCA’s annual reports to discuss similarities,...more

A&O Shearman

FCA takes first enforcement action for breaches of Short Selling Regulation

A&O Shearman on

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

Hogan Lovells

The end of the insurance loyalty penalty?

Hogan Lovells on

Yesterday the FCA has published its final report on its market study into general insurance pricing practices. The proposals include significant reforms including banning the so-called loyalty penalty, to prevent consumers...more

Hogan Lovells

New EU Whistleblowing Directive – what UK financial services firms need to know

Hogan Lovells on

On 7 October 2019, the Council of the European Union formally adopted a new Directive on the protection of persons who report breaches of Union law. The Directive was published in the Official Journal of the European Union on...more

Latham & Watkins LLP

Key Industry Lessons From the FCA’s First Competition Law Case

Latham & Watkins LLP on

The FCA found that three asset managers breached competition law by sharing information in relation to securities offerings. Key Points: ..The decision gives market participants some helpful indications as to what kinds...more

Akin Gump Strauss Hauer & Feld LLP

In Principle: 10 Things Authorised Firms Need to Know for 2018 – The World of Financial Regulation as the UK Prepares to Exit the...

There is much for authorised firms to consider in the year ahead. Firms have been through the intensive period of the enactment of the second Markets in Financial Instruments Directive (MiFID II), but must now step up their...more

Proskauer Rose LLP

Regulation Round Up - August 2017

Proskauer Rose LLP on

2 August - The UK Competition and Markets Authority announced a consultation on proposed revisions to its published guidance on penalty setting in Competition Act 1998 cases....more

Dechert LLP

Every Little Helps with a DPA

Dechert LLP on

Lord Justice Leveson approved Tesco Store Limited’s (“Tesco”) Deferred Prosecution Agreement (“DPA”) on 10 April 2017, making them the fourth company since November 2015 to enter into a DPA with the UK’s1 Serious Fraud Office...more

Proskauer Rose LLP

Regulation Round Up - February 2017

Proskauer Rose LLP on

The FCA and PRA announced changes to enforcement process with the aim of strengthening the transparency and effectiveness of enforcement decision-making processes. Some of the changes have already come into force, the rest...more

Foley & Lardner LLP

Hospitals Urging SCOTUS to Limit False Claims Act Penalties

Foley & Lardner LLP on

What do a moving company and a hospital association have in common? The False Claims Act (FCA). The American Hospital Association along with the United States Chamber of Commerce and the Pharmaceutical Research and...more

Orrick - Finance 20/20

Lloyds Banking Group Face £28 Million Fine in Relation to Sales Incentive Controls

Orrick - Finance 20/20 on

On December 11, the FCA published a final notice to Lloyds Banking Group in which it was fined a record GBP £28 million. The fine was imposed for “serious failings” in its sales practices, the largest UK regulatory penalty...more

Troutman Pepper

The EU’s Alternative Investment Fund Managers Directive: Marketing Impact On Non-European Fund Managers

Troutman Pepper on

Alternative investment fund managers based outside the European Economic Area (EEA) who wish to market their alternative investment funds (AIFs) to European investors are rightly concerned about additional restrictions and...more

Orrick - Finance 20/20

The FCA Fines RBS £5.6 Million for Serious Transaction Reporting Failings

On July 24, the FCA published the final notice that it issued to The Royal Bank of Scotland plc and The Royal Bank of Scotland N.V. (together, RBS) on July 16....more

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