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Enforcement Actions Risk Management Financial Conduct Authority (FCA)

A&O Shearman

Financial Crime: The FCA’s Strategy for 2025 – 2030

A&O Shearman on

In its strategy for the next five years, financial crime remains a priority for the UK Financial Conduct Authority (FCA). While the FCA acknowledges the significant efforts firms invest in their anti-financial crime systems,...more

A&O Shearman

Rebalancing risk and building trust: The FCA’s new five year strategy

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published its strategy for the next five years and it has a very different tone and objective to the three-year strategy it shared in 2022. This shift in tone reflects developments...more

A&O Shearman

FCA statement on motor finance review next steps

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published a statement informing firms, consumers and stakeholders of next steps in its review of the past use of motor finance discretionary commission arrangements. The Court...more

Thomas Fox - Compliance Evangelist

Daily Compliance News: March 18, 2025, The Slack Channel Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance...more

A&O Shearman

FCA publishes review of liquidity risk management at wholesale trading firms

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published observations on good and poor liquidity risk management practices from its multi-firm review of wholesale trading (sell-side) firms in scope of the Investment Firms...more

Hogan Lovells

Good job, but keep going: UK FCA’s review of vulnerable customer treatment

Hogan Lovells on

During 2024, the Financial Conduct Authority (FCA) carried out a review of firms’ treatment of customers in vulnerable circumstances. After a lengthy and detailed review, the FCA published its findings on how firms support...more

Goodwin

Non-financial Misconduct and Culture: A Reminder for FCA-Regulated Firms in the UK

Goodwin on

Firm culture remains a key topic on the Financial Conduct Authority’s (FCA’s) radar this year. In a previous alert, we discussed the FCA’s proposals for all FCA-authorised firms to better integrate non-financial misconduct...more

A&O Shearman

Assertive supervision and the UK Government’s growth agenda – why it’s too soon for financial institutions to relax

A&O Shearman on

The Financial Conduct Authority (FCA) and Prudential Regulatory Authority (PRA) recently outlined their proposals on how they will support the UK Government’s growth mission alongside their primary objectives. Amongst others,...more

A&O Shearman

UK Financial Conduct Authority portfolio letter on supervisory strategy for wholesale brokers

A&O Shearman on

The U.K. Financial Conduct Authority has published a Dear CEO Letter on its new strategy for supervising wholesale brokers. The FCA has observed a change in the sector in recent years with larger firms acquiring smaller ones...more

A&O Shearman

New U.K. regulatory landscape: enforcement and supervision shift

A&O Shearman on

This article examines the latest trends in U.K. regulatory enforcement and supervisory action and highlights the key takeaways for firms in 2025 and beyond. Over the past 18 months, the Financial Conduct Authority (FCA)...more

A&O Shearman

New UK Financial Conduct Authority webpages on consumer redress liabilities

A&O Shearman on

The U.K. Financial Conduct Authority has published two new webpages relating to consumer redress liabilities. The first webpage provides an update for firms on what they should and should not do to tackle polluting behavior...more

K&L Gates LLP

The FCA's Part 2 of Its "Name and Shame" Proposals: What You Need to Know

K&L Gates LLP on

On 27 February 2024, the Financial Conduct Authority (FCA) published its Consultation Paper CP24/2, which revealed the FCA’s new intended approach to publicised enforcement action. This was quickly dubbed the “name and shame”...more

BakerHostetler

Weekly Blockchain Blog - July 2024

BakerHostetler on

Institutional Firms Enter Crypto Market; Crypto Firms Partner on New Products - According to recent reports, a major global bank is establishing a spot trading desk for buying and selling bitcoin and ether. The new desk,...more

K&L Gates LLP

The Year Ahead: The Financial Conduct Authority's Ambitious Enforcement Plans for 2024/2025

K&L Gates LLP on

In 2022, for the first time, the Financial Conduct Authority (FCA) published a three-year strategy setting out three key themes for promoting positive change, namely: (1) reducing and preventing serious financial harm and...more

A&O Shearman

UK sanctions systems and controls: lessons learnt

A&O Shearman on

The UK Financial Conduct Authority (FCA) has assessed the systems and controls relating to sanctions compliance for over 90 firms across a range of sectors and summarised its findings of good and poor practice. Acknowledging...more

Skadden, Arps, Slate, Meagher & Flom LLP

Impact of COVID-19 on White Collar Enforcement

While enforcement agencies have yet to indicate that they intend to put their pens down in response to COVID-19, there is anecdotal evidence that some agencies have slowed their investigations as remote working impacts matter...more

Latham & Watkins LLP

Trends in Outsourcing Regulation and Supervision in Financial Services

Latham & Watkins LLP on

Insights from Latham’s flagship event: Managing the risk and promise of digitisation in financial services - The financial services industry is leading the way in outsourcing, with contract values in excess of US$10.7...more

WilmerHale

Final Notice in Tesco Personal Finance Plc - Cyber Attacks and the Need for Dress Rehearsals

WilmerHale on

In a Final Notice dated 1 October 2018, the FCA sanctioned Tesco Personal Finance Plc for failings connected with a cyber attack it suffered in November 2016. The attack originated from Brazil and attackers managed to...more

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