FCA supervisory interventions drop below 2015 levels

Contrary to the FCA's strident rhetoric about assertive supervisory action, the number of published FCA supervisory notices, requirement notices and undertakings dropped significantly in 2024 to a level last seen in 2020 and below that last seen in 2015.

Not on the chart but worth noting: in 2025 year to date there's only been one such published intervention, meaning the rest of 2025 will need to see a good deal of catching up to match even 2024 levels. 

If history is any guide, periods of relative regulatory inaction (on a formal basis) are followed by periods of substantially more impactful enforcement action to deal with conduct issues that develop and crystallise in the interim.  To avoid being the lowest hanging fruit here, far-sighted firms will take this valuable chance now to engage in longer-term risk mitigation.  

In their efforts, our clients enjoy our fully integrated offering of our financial regulatory lawyers and our risk advisory consultants, working closely together to help them deliver regulatory compliance projects that are pragmatic and have lasting impact.