News & Analysis as of

United Kingdom Financial Conduct Authority (FCA) Criminal Prosecution

Hogan Lovells

UK: Trends in FCA enforcement activity 2023/24 and what lies ahead

Hogan Lovells on

This month the UK Financial Conduct Authority (FCA) published its Annual Report and Accounts covering the period April 2023 – March 2024, which includes information on its enforcement activity during that period. The FCA has...more

A&O Shearman

Likes to liability: UK FCA cracks down on 'finfluencers'

A&O Shearman on

"Promotions aren't just about the likes, they're about the law," is the caption that accompanies the UK Financial Conduct Authority's (FCA) recent decision to charge nine influencers in connection with the promotion on social...more

WilmerHale

Sanctions, Fraud is Coming to Town: 2022 in Review

WilmerHale on

In 2022, the UK was forced to reckon with the charge of being soft on economic crime and being the destination of choice for kleptocrats seeking to launder their ill-gotten funds. No longer able to turn a blind eye to these...more

Latham & Watkins LLP

The FCA’s Approach to Non-Financial Misconduct - A Further Twist

Latham & Watkins LLP on

The FCA stated that the perpetrator’s character is key to non-financial misconduct investigations, which suggests a mismatch with recent case law. In last year’s Frensham case, the Upper Tribunal considered how relevant...more

WilmerHale

The Continued Restricted Use of Information Obtained via Mutual Legal Assistance Request

WilmerHale on

On 4 November 2022, in the case of FCA v Papadimitrakopoulos & Gryparis1 , the UK High Court reaffirmed the principle that information obtained via Mutual Legal Assistance (MLA) requests can only be used for the purpose for...more

Hogan Lovells

Market abuse surveillance: How to get it right

Hogan Lovells on

Identifying and reporting instances of potential market abuse is required under the Market Abuse Regulation ('MAR'). A firm must have effective arrangements, systems and procedures in place to detect and report suspicious...more

Jenner & Block

Systems and controls failings lead to criminal charges for UK NatWest Bank

Jenner & Block on

NatWest pleaded guilty on Thursday 7 October 2021 to criminal charges brought by the UK financial services regulator, the Financial Conduct Authority (the “FCA”). The FCA had charged NatWest with failing to properly monitor...more

A&O Shearman

Impact of proposed changes to decision making at the UK Financial Conduct Authority

A&O Shearman on

The FCA is proposing to streamline decision-making and governance by moving some decision-making powers from the more independent, board level, Regulatory Decisions Committee (RDC) to senior members of the Authorisation,...more

BCLP

Financial Services Act 2021 - changes to PDMR notifications

BCLP on

The Financial Services Act 2021 (the “Act”) has received Royal Assent and is now law. What does this mean for issuers?...more

Morrison & Foerster LLP

Financial Conduct Authority Announces Its First Criminal Prosecution Under The UK Money Laundering Regulations

The FCA has announced its first criminal prosecution under the UK’s Money Laundering Regulations. This is undoubtedly a very significant development for the FCA and should be seen as a warning to firms within scope of the...more

Cohen & Gresser LLP

The FCA Final Notice on Redcentric PLC – Does it Signal the Enforcement Zeitgeist of the COVID-19 Period?

Cohen & Gresser LLP on

At the end of June 2020, the Financial Conduct Authority (the “FCA”) issued a public censure to Redcentric PLC for market abuse resulting from significant accounting errors. The resolution is particularly eye-catching because...more

Dechert LLP

Clarification of Test for Dishonesty in English Criminal Law: Impact on Complex Fraud Cases

Dechert LLP on

Following the judgment of the English High Court in Serious Fraud Office v Barclays Plc & Another1, prosecutors are aware that they now face a more onerous task when trying to establish corporate criminal liability. However,...more

Cooley LLP

Alert: Remaining Vigilant to Compliance and Enforcement Concerns in Times of Crisis

Cooley LLP on

In times of increased financial stress—and particularly during times of financial shock where expectations and reality diverge significantly and rapidly—internal and external pressures can lead to risk-taking with lasting...more

WilmerHale

I’m Dreaming of a White (Collar) Christmas: 2019 in Review

WilmerHale on

The year 2019 has been something of a mixed bag for the UK’s criminal and regulatory authorities. While the Serious Fraud Office (“SFO”) and Financial Conduct Authority (“FCA”) appear to have taken involuntary sabbaticals...more

Robins Kaplan LLP

Financial Daily Dose 12.20.2019 | Goldman nearing $2B deal with DOJ to resolve 1MDB scandal claims

Robins Kaplan LLP on

Goldman Sachs is reportedly in negotiations with federal prosecutors to resolve claims about its role in the Malaysian 1MDB scandal for upwards of $2 billion. A settlement—which “could include a guilty plea from Goldman’s...more

Skadden, Arps, Slate, Meagher & Flom LLP

Cross-Border Investigations Update - September 2019

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including a review of the first year of GDPR enforcement, analysis of...more

A&O Shearman

UK Regulator Secures Insider Dealing Conviction

A&O Shearman on

The U.K. Financial Conduct Authority has secured convictions against two individuals accused of insider dealing. Fabiana Abdel-Malek, a former senior compliance officer at the London office of a major European headquartered...more

A&O Shearman

UK Conduct Regulator Bans Former LIBOR Submitter From Performing Any Regulated Activity

A&O Shearman on

The U.K. Financial Conduct Authority has published the Final Notice (dated October 30, 2018) that it issued to a former employee of a major international bank, prohibiting him from performing any function relating to any...more

A&O Shearman

Final Defendant Sentenced in UK Regulator's Prosecution of £2.8m Investment Fraud

A&O Shearman on

The final defendant in an investment fraud case has been sentenced to 11 years' imprisonment following "Operation Tidworth", the U.K. Financial Conduct Authority's largest and one of its most complex fraud investigations to...more

A&O Shearman

A closer look: United Kingdom - FCA secures confiscation orders in Operation Tabernula

A&O Shearman on

The UK’s Financial Conduct Authority (FCA) has secured confiscation orders totalling GBP1.69m as part of Operation Tabernula – the FCA’s longest-running and most complex insider trading case. ...more

BakerHostetler

2017 Year-End Cross-Border Government Investigations and Regulatory Enforcement Review

BakerHostetler on

As the first year of a new administration, 2017 was a year of transition in terms of both leadership and priorities of U.S. law enforcement agencies. Despite these changes, however, pre-existing trends in cross-border...more

A&O Shearman

UK Conduct Regulator Bans RBS Trader for Manipulation of Japanese Yen LIBOR

A&O Shearman on

The Financial Conduct Authority published a Final Notice in relation to Neil Danziger, a former RBS interest rate derivatives trader, in connection with his involvement in the manipulation of Japanese Yen LIBOR. The FCA...more

WilmerHale

Update: Creation of the National Economic Crime Centre

WilmerHale on

On 11 December 2017 the Government announced the creation of the National Economic Crime Centre (NECC). The NECC will be based within the National Crime Agency (NCA) and will act as a multi-agency organisation, tasked with...more

Skadden, Arps, Slate, Meagher & Flom LLP

Cross-Border Investigations Update - November 2017

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including new U.K. reporting obligations for sanctions violations,...more

A&O Shearman

UK Financial Conduct Authority Decision to Ban Ex-Libor Trader Hayes Delayed Pending Criminal Review

A&O Shearman on

The Financial Conduct Authority has announced that it has decided to prohibit former trader Tom Hayes from performing any function relating to any regulated activity in the financial services industry. The FCA stated that Mr....more

49 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide