Anthony Harrison

Oct 25, 2024 | scotsman.com | Anthony Harrison

Firms must guard against surveillance failures and mitigate relevant risks, writes Anthony HarrisonThe latest enforcement actions and supervisory publications by the Financial Conduct Authority (FCA) indicate the regulator’s renewed interest in market integrity and its expectations on regulated firms to assist it through clear dialogue and reporting. Recent enforcement actions include a criminal prosecution for conspiracy to deal in four stocks while having inside information.

Oct 24, 2024 | pinsentmasons.com | Anthony Harrison

“This has significant implications not just for the financial advice sector, but for all regulated firms,” said Nicholas Kamlish, financial services specialist at Pinsent Masons. As has been set out in the regulator’s most recent strategy and business plan, the FCA is “laser-focused” on reducing and preventing serious harm.

Oct 17, 2024 | pinsentmasons.com | Anthony Harrison

Recent enforcement actions include a criminal prosecution for conspiracy to deal in four stocks while having inside information. Two traders have been accused of making a profit of around £110,000 through insider dealing. The next hearing in the case will take place at Southwark Crown Court on 31 October.

Oct 16, 2024 | pinsentmasons.com | Anthony Harrison

With payment service providers (PSPs) now required to pay up to £85,000 to victims of APP fraud perpetrated through the faster payment system (FPS) and the clearing house automated payment system (CHAPS), the FCA has taken the opportunity to set out its expectations in this area.

Aug 20, 2024 | pinsentmasons.com | Anthony Harrison |Elizabeth Budd

An FCA investigation revealed that between 2015 and 2019, Macintyre Hudson LLP (MHA) failed to prepare four client asset reports to the required standards. These reports, which are crucial for ensuring firms comply with the FCA’s client assets sourcebook (CASS) rules, were found to be deficient in several areas. The auditor failed to identify and report 25 breaches of the CASS rules by two regulated firms.