Phil Davies

Akin Gump Strauss Hauer & Feld LLP

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Latest Posts › New Rules

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Non-Financial Misconduct in Financial Services: Nothing is ‘Plain and Simple’

Back in 2018, a senior member of the Financial Conduct Authority (FCA) stated that “non-financial misconduct is misconduct, plain and simple”. Since then, the FCA has issued multiple discussion and consultation papers,...more

8/28/2025 / Code of Conduct , Employees , Financial Conduct Authority (FCA) , Harassment , New Guidance , New Rules , Nonbank Firms , Regulatory Requirements , Senior Managers , UK

FCA Updates – ‘Assertive’ Supervision, and About Turns

We are now starting to see a real shift in the UK Financial Conduct Authority’s (FCA) Enforcement strategy following a changing of the guard in 2023, which brought in Therese Chambers and Steve Smart to be Joint Executive...more

3/26/2025 / Diversity and Inclusion Standards (D&I) , Enforcement Actions , Financial Conduct Authority (FCA) , Investigations , New Rules , Proposed Rules , Regulatory Agenda , Regulatory Requirements , Reporting Requirements , UK

New FCA Principle 12: Consumer Duty

Key Point - The FCA is introducing a new Principle for Businesses, namely Principle 12: “A firm must act to deliver good outcomes for retail customers.” Firms will need to assess and evidence how they are acting to...more

9/8/2022 / Final Guidance , Final Rules , Financial Conduct Authority (FCA) , Financial Institutions , Financial Services Industry , New Rules , Retail Market

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