Financial Institutions, Enforcement Actions, Prudential Regulation Authority (PRA)

Executive directors “knowingly concerned” in bank’s breach of the UK listing rules

A&O Shearman on 6/26/2025

The UK Upper Tribunal (Tax and Chancery) has upheld the Financial Conduct’s Authority’s (FCA) decision to take action against two former executives of a bank for being “knowingly concerned” in the bank’s breach of the listing...more

PRA fines former notified non-executive director of Wyelands Bank

A&O Shearman on 4/17/2025

The UK Prudential Regulation Authority (PRA) has fined a former non-executive director of Wyelands Bank GBP72,000 for failing to act with due skill, care and diligence in connection with regulatory failings previously...more

UK Financial Conduct Authority Publishes Dear CEO letter for Financial Advisers and Investment Intermediaries

A&O Shearman on 11/5/2024

The U.K. Financial Conduct Authority has published a Dear CEO Letter setting out its supervisory strategy for financial advisers and investment intermediaries. The FCA's priorities over the next two years are reducing and...more

EU Technical Standards Supplementing the Securitization Regulation

A&O Shearman on 9/29/2020

Several EU Technical Standards supplementing the EU Securitization Regulation have been published in the Official Journal of the European Union. The Securitization Regulation has applied directly across the EU since January...more

UK Bank Agrees to Pay $4 Million to Settle OFAC Sudanese Sanctions Violations

The Volkov Law Group on 9/25/2019

Last week, British Arab Commercial Bank (BACB), located in the United Kingdom, agreed to settle an OFAC enforcement action for $4 million. ...more

Regulation Round Up - February 2017

Proskauer Rose LLP on 2/28/2017

The FCA and PRA announced changes to enforcement process with the aim of strengthening the transparency and effectiveness of enforcement decision-making processes. Some of the changes have already come into force, the rest...more