The UK Financial Conduct Authority (FCA) has published its next steps to address non-financial misconduct within the financial services sector. With the publication of Consultation Paper CP25/18, the FCA signals its ongoing...more
The UK Financial Conduct Authority (FCA) has published the full details of its proposal to fine and ban the fund manager, Crispin Odey, for lacking integrity. But the FCA’s proposed action against Mr Odey does not rely on his...more
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
Just over a year ago, the UK Financial Conduct Authority (FCA) found itself at the centre of strong industry and political feedback when it first published its controversial proposals to ‘name and shame’ firms that it had...more
The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) are considering ways to enhance individual accountability, particularly among Senior Managers, by more fully integrating the regulatory...more
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
2/6/2025
/ Compliance ,
Consumer Protection Laws ,
Corporate Governance ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Financial Regulatory Reform ,
Fines ,
Prudential Regulation Authority (PRA) ,
Regulatory Oversight ,
Risk Management ,
UK
In February 2024, the FCA sent a survey to 1,028 wholesale firms (insurers, market intermediaries, banks and brokers) asking about recorded incidents of non-financial misconduct between 2021 and 2023.
With a 96% response...more
12/2/2024
/ Corporate Crimes ,
Corporate Misconduct ,
Employees ,
Employer Liability Issues ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
UK ,
Whistleblower Protection Policies ,
Whistleblowers ,
White Collar Crimes
Last week, the UK Financial Conduct Authority (FCA) unveiled a 'Part 2' consultation paper detailing a revised version of its controversial proposals to publicly name firms under enforcement investigation. This development...more
12/2/2024
/ Amended Regulation ,
Banking Sector ,
Corporate Governance ,
Enforcement ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
FinTech ,
Investigations ,
Regulatory Agenda ,
UK ,
White Collar Crimes
The UK Prudential Regulation Authority (PRA) has fined the former CEO of Wyelands Bank GBP118,808 for various regulatory breaches, including that he failed to take reasonable steps to ensure the business for which he was...more
By now, you may have heard that the UK Financial Conduct Authority (FCA) is consulting on changes to its approach to publicising enforcement investigations, as well as other changes to its Enforcement Guide. If they come into...more
3/4/2024
/ Banking Sector ,
Capital Markets ,
Employment Litigation ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Insurance Industry ,
Investigations ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
UK
This is the last post in our series on the UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) proposals to introduce a new regulatory framework on diversity and inclusion (D&I) in the financial...more
12/22/2023
/ Banking Sector ,
Corporate Culture ,
Corporate Governance ,
Data Protection ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Prudential Regulation Authority (PRA) ,
Risk Management ,
UK
The recent proposals from the UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) on diversity and inclusion (D&I) include proposals in respect of governance and oversight within in-scope firms....more
12/20/2023
/ Banking Sector ,
Compliance ,
Corporate Governance ,
Disclosure Requirements ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Employees ,
Employer Liability Issues ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
New Regulations ,
Prudential Regulation Authority (PRA) ,
Regulatory Requirements ,
UK
Proposals from the UK financial regulators aimed at improving diversity and inclusion (D&I) in the UK financial services sector include an explicit expectation for all in-scope firms to consider a lack of D&I as a...more
12/20/2023
/ Banking Sector ,
Compliance ,
Corporate Governance ,
Disclosure Requirements ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Employees ,
Employer Liability Issues ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
New Regulations ,
Prudential Regulation Authority (PRA) ,
Regulatory Requirements ,
UK
The Financial Conduct Authority’s (FCA) new package of sustainability disclosure requirements (SDR) and investment labelling rules is a key pillar of the UK government’s efforts to introduce an economy-wide SDR regime. All...more
12/20/2023
/ Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Greenwashing ,
Reporting Requirements ,
Sustainability ,
Sustainable Business Practices ,
UK
The UK financial services regulators’ latest proposals for improving diversity and inclusion (D&I) have implications for the governance and oversight arrangements of in-scope firms. Building on existing requirements, the...more
The FCA has issued the final version of its rules for stage one of the UK’s new Sustainability Disclosure Requirements or SDR, together with its new ESG product labelling regime. The rules are detailed and complex. The new...more
The latest proposals for improving diversity and inclusion in the UK financial services sector, published by the Financial Conduct Authority and Prudential Regulation Authority, include changes that will impact Senior Manager...more
The Financial Conduct Authority (FCA) and Prudential Regulation Authority’s (PRA) recent proposals demonstrate a divergence in approach when it comes to individual accountability and expectations of senior management in...more
The UK Financial Conduct Authority's consultation on diversity and inclusion (D&I) in financial services proposes new rules and guidance on identifying and taking action in relation to non-financial misconduct such as...more
12/14/2023
/ Bullying ,
Diversity and Inclusion Standards (D&I) ,
Employee Misconduct ,
Employees ,
Employer Liability Issues ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
International Labor Laws ,
Proposed Rules ,
Prudential Regulation Authority (PRA) ,
Senior Managers ,
Sexual Harassment ,
UK
The FCA is focused on reducing non-financial misconduct to enhance the reputation of the UK financial services sector. Spurred on by positive levels of engagement with its 2021 discussion paper, the FCA’s latest consultation...more
12/13/2023
/ Banking Sector ,
Code of Conduct ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Employee Misconduct ,
Employees ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Internal Investigations ,
Prudential Regulation Authority (PRA) ,
Regulatory Requirements ,
Senior Management Regime (SMR) ,
SMCR ,
UK
The FCA has issued the final version of its new anti-greenwashing rule – part of a package that includes additional rules as stage one of the UK’s new Sustainability Disclosure Requirements or SDR, plus the FCA’s new ESG...more
The latest UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) proposals for improving diversity and inclusion in financial services include requiring firms to report on six new inclusion metrics....more
11/30/2023
/ Banking Sector ,
Data Collection ,
Data Protection ,
Data Reporting ,
Disclosure Requirements ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Employees ,
Employer Liability Issues ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
New Regulations ,
Prudential Regulation Authority (PRA) ,
Regulatory Requirements ,
UK
Developing and maintaining an inclusive environment is crucial for realising the benefits of having a diverse organisation. With this in mind, the UK Financial Conduct Authority (FCA) and UK Prudential Regulation Authority...more
11/29/2023
/ Banks ,
Compliance ,
Data Collection ,
Data Protection ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Employees ,
Employer Liability Issues ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Risk Management ,
UK
Post six in our blog series on the UK Financial Conduct Authority and Prudential Regulation Authority proposals to improve diversity and inclusion (D&I) in UK financial services considers the D&I data firms would be required...more
11/27/2023
/ Banking Sector ,
Data Collection ,
Data Protection ,
Data Reporting ,
Disclosure Requirements ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
New Regulations ,
Prudential Regulation Authority (PRA) ,
Regulatory Requirements ,
UK
The latest post in our blog series looking at the UK Financial Conduct Authority and Prudential Regulation Authority proposals to improve diversity and inclusion (D&I) in the financial services industry focusses on data...more
11/27/2023
/ Banking Sector ,
Data Collection ,
Data Protection ,
Data Reporting ,
Disclosure Requirements ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
New Regulations ,
Prudential Regulation Authority (PRA) ,
Regulatory Requirements ,
UK