-
Nov 28, 2024 | 
herbertsmithfreehills.com | Jenny Stainsby |Hywel Jenkins |Chris Ninan |Jon Ford
IntroductionOn 28 November 2024, the UK Financial Conduct Authority (the "FCA") published Consultation Paper 24/2 Part 2 ("CP24/2 Part 2").1 This sets out revisions to the FCA's controversial proposals2 published earlier this year to name firms it is investigating at an early stage and before any findings of misconduct have been made (the "Transparency Proposal"). The deadline for responding to the revised proposals is 17 February 2025.
-
Apr 30, 2024 | 
lexology.com | Jenny Stainsby |Hywel Jenkins |Chris Ninan |Jon Ford |Karen Anderson |Michael Tan | +4 more
The Financial Conduct Authority’s (FCA) extended consultation window closes today in respect of Consultation Paper 24/2: Our Enforcement Guide and publicising enforcement investigations – a new approach (CP24/2). We have previously posted a summary of the key areas covered by CP24/2, and an overview of our thoughts on whether the FCA’s proposals can achieve their objectives.
-
Apr 2, 2024 | 
mondaq.com | Hywel Jenkins |Jenny Stainsby |Chris Ninan |Jon Ford
On 27 February 2024, the Financial Conduct Authority (FCA)
published CP24/2: Our Enforcement Guide and publicising
enforcement investigations – a new approach, which sets
out a proposal that would see the regulator publicly announce the
opening and progress of investigations, and other proposed changes
to simplify the FCA's Enforcement Guide (EG). A summary of the
key areas covered by CP24/2 can be found in our earlier post.
-
Mar 7, 2024 | 
mondaq.com | Jenny Stainsby |Hywel Jenkins |Chris Ninan |Jon Ford
The Financial Conduct Authority (FCA) has
published CP24/2: Our Enforcement Guide and publicising
enforcement investigations – a new approach, which
sets out a proposal that would see the regulator publicly announce
the opening and progress of investigations, and other proposed
changes to simplify the FCA's Enforcement Guide
(EG). The FCA is seeking feedback on its proposals
by 16 April 2024.
-
Feb 27, 2024 | 
lexology.com | Jenny Stainsby |Hywel Jenkins |Chris Ninan |Jon Ford |Elena Kormosh
The Financial Conduct Authority (FCA) has published CP24/2: Our Enforcement Guide and publicising enforcement investigations – a new approach, which sets out a proposal that would see the regulator publicly announce the opening and progress of investigations, and other proposed changes to simplify the FCA’s Enforcement Guide (EG). The FCA is seeking feedback on its proposals by 16 April 2024.
-
Feb 12, 2024 | 
mondaq.com | Jenny Stainsby |Hywel Jenkins |Chris Ninan |Jon Ford
As the Bank of England finalises its new Approach to
Enforcement, we have taken a closer look at the implications for
PRA enforcement cases and the answers to some important questions
about the changes around the way firms and individuals under
investigation will be able to seek to settle cases early and access
larger discounts. The changes also include a new starting point for
penalty calculations, which have led to concerns about higher fines
for 'certain firms'.
-
Feb 9, 2024 | 
mondaq.com | Luke Hastings |John O'Donnell |Chris Ninan |Simone Hui
As geopolitics, climate change and digitisation shift
the financial services landscape and disparate providers near the
threshold of regulation, we explore how the watchdogs are
responding
Just as the financial services industry is constantly evolving,
so too are the expectations around what regulators can and should
do. And those expectations arise from a diverse group of
stakeholders including governments, the regulated community, and
customers.
-
Nov 10, 2023 | 
mondaq.com | Jenny Stainsby |Hywel Jenkins |Chris Ninan |Clive Cunningham
On 13 October 2023, the UK Financial Conduct Authority
(FCA) published its press release and Final Notice to Equifax Limited
(Equifax Ltd), the UK subsidiary of US company
Equifax Inc, in relation to a major 2017 data breach which affected
over 13.7 million UK consumers. The FCA determined that the firm
had breached Principles 3, 6 and 7 of its Principles for Businesses
and imposed a fine of over £11m on Equifax Ltd.
-
Nov 7, 2023 | 
lexology.com | Jenny Stainsby |Hywel Jenkins |Chris Ninan |Clive Cunningham |Miriam Everett |Nick Pantlin | +2 more
On 13 October 2023, the UK Financial Conduct Authority (FCA) published its press release and Final Notice to Equifax Limited (Equifax Ltd), the UK subsidiary of US company Equifax Inc, in relation to a major 2017 data breach which affected over 13.7 million UK consumers. The FCA determined that the firm had breached Principles 3, 6 and 7 of its Principles for Businesses and imposed a fine of over £11m on Equifax Ltd.
