09 Apr, 2024 The BoE and PRA are getting ready to enforce against more firms. Are you impacted? By Duncan Campbell The Bank of England and PRA are preparing to take enforcement action against a wider range of firms. They've proposed new enforcement...
05 Mar, 2024 FCA outlines its approach to enforcing critical third party regime By Raza Naeem Simon Treacy Tech firms that support financial services should note a new consultation from the Financial Conduct Authority. The FCA, along with the...
29 Feb, 2024 FCA enforcement's great reset: "boil the kettle not the ocean" By Duncan Campbell Sara Cody FCA Enforcement co-heads Therese Chambers and Steve Smart have fired the starting gun on their long-awaited refresh of the FCA's...
09 Feb, 2024 Financial services interventions and enforcement trends for 2024 By Nikunj Kiri Sara Cody Duncan Campbell In the next couple of months we'll see the FCA enforcement heads articulate their vision and direction for interventions and enforcement...
02 Feb, 2024 PRA issues second largest fine for historic failings: what can we learn from this week’s action? By Clare McMullen Joseph Richmond Saurabh Gupta Stephen Clipsham +1 more... Show less On the day it confirmed a change to its penalty policy that many expect will lead to larger penalties, the PRA issued its second largest...
19 Jan, 2024 Feeling the pressure: the FCA is asking firms about non-financial misconduct and NDAs By Elizabeth Dowd Duncan Campbell The Treasury Committee this week in its “Sexism in the City” inquiry expressed concern that the industry is falling short on...
16 Jan, 2024 New SMCR fine: right-sizing controls to your business risk (and SMF delegations) By Joseph Richmond Duncan Campbell Saurabh Gupta Bit by bit, enforcement actions are giving us more clarity on what “reasonable steps” means for senior managers. The latest news: the...
13 Dec, 2023 Prioritisation and sequencing: FCA doubles down on savings rates - and says Consumer Duty enforcement is coming By Quynh McGrath Elizabeth Dowd FCA Chair Ashley Alder and CEO Nikhil Rathi just appeared before the Treasury Committee. They reported on various areas of interest...
06 Dec, 2023 On Consumer Duty, keep being proactive: FCA By Duncan Campbell Over 6000 people beat down the door of the FCA's Consumer Duty webinar on 6 December 2023. So many that the FCA's systems were...
20 Nov, 2023 In the Julius Baer case, a costs order with a real sting in the tail By Duncan Campbell Upper Tribunal Judge Herrington - sitting in retirement - has delivered a final blow to the FCA with a partial costs order in Seiler v...
15 Jun, 2023 FCA suffers defeat in Julius Baer case - with important individual accountability implications By Nikunj Kiri Duncan Campbell You wouldn't know it from reading the FCA's statement, but the FCA has experienced a major loss in the Upper Tribunal (UT). The UT has...
03 Jun, 2023 Do the right thing: Therese Chambers’ first speech sets the tone for a new era By Sara Cody Therese Chambers has used her first speech as Co-Executive Director of the FCA’s Enforcement Division to send some clear messages about...
13 Apr, 2023 PRA takes the UK's first enforcement action for breach of the Senior Manager Conduct Rules By Duncan Campbell We now have our first enforcement action against a Senior Manager under the SMCR for breaches of the Senior Manager Conduct Rules. And...
06 Feb, 2023 Five key messages from the FCA's feedback on firms' Consumer Duty implementation plans By Sara Cody Duncan Campbell The FCA has given firms feedback on their Consumer Duty implementation plans. This feedback contains valuable messages for firms as they...
23 Dec, 2022 Happy Holidays. Have some fines. By Duncan Campbell It isn't just you. The FCA and PRA enforcement teams have been unusually busy this December. The busiest they've been at any time of...
03 Nov, 2022 Consumer Duty scoping and implementation: use our insights to put your best foot forward By Sumit Indwar Sara Cody James Morris Duncan Campbell Clare Wiles +2 more... Show less With Boards signing off Consumer Duty implementation plans in October, it's now time to kick off your implementation work. Many firms...