Nathan Willmott

Nov 28, 2024 | ftadviser.com | Steve Conley |Nathan Willmott

The Financial Conduct Authority’s plans to give firms more notice when deciding whether to announce they are under investigation has been branded as a ‘sensible move’ by the industry. Earlier today, the regulator announced phase two of its consultation paper on its enforcement proposals where it laid out four “significant changes”. This included firms being given a copy of any draft announcement and 10 business days’ notice to make their representations to the FCA.

May 2, 2024 | lexology.com | Nathan Willmott

It has been a turbulent ten days in the world of regulatory enforcement. This week marked the end of the FCA's consultation on its proposed enforcement policy to name firms under investigation. Trade bodies, lawyers, and now politicians – including the House of Lords Committee that oversees the FCA, and the Chancellor Jeremy Hunt – have loudly voiced their disagreement with what they perceive to be an ill-conceived strategy which risks destroying firms and damaging reputations.

Feb 28, 2024 | lexology.com | Jake Green |Adam Jamieson |Nathan Willmott |Lorraine Johnston |Lynn Dunne |Ruby Hamid | +3 more

Financial Services Enforcement"The first rule of enforcement club is that you do in fact talk about enforcement club"The FCA has announced plans to change its enforcement strategy.

Nov 21, 2023 | lexology.com | Anna Varga |Nathan Willmott

A lot of eyebrows were raised earlier this year when the FCA issued two press releases in response to a pair of adverse decisions from the Upper Tribunal in the Markou and Seiler and Whitestone case. "Incorrect and irrational" decisionFollowing to the Markou decision in April, the FCA issued a terse three-sentence statement noting that the FCA believed that the decision was "incorrect and irrational" and indicating that permission to appeal would be sought.