The FCA published its final rules on the Consumer Duty in a Policy Statement on 27 July 2022 (PS22/9) and firms now have until 31 July 2023 to fully implement such rules for new and existing products or services and until 31...more
The UK Financial Conduct Authority (the FCA) is proposing to take enforcement action against an individual, Jon Frensham, relating to "non-financial misconduct". The FCA has made clear its commitment to tackling...more
The FCA's focus on market abuse is nothing new. Frequent references to the FCA's focus on tackling market abuse have featured in every single one of its Business Plans since 2013/14, with similar references also running...more
In this decision report we review the FCA’s action against Sonali Bank (UK) Ltd (Sonali Bank) and its money laundering reporting officer (MLRO), Steven Smith, in connection with failings identified in relation to Sonali...more
In this decision report we consider the FCA's final notice issued to Mark Samuel Taylor on 5 May 2016. Mr Taylor was fined £36,285 (reduced from £78,819 on the grounds of serious financial hardship) and banned from performing...more
In this decision report we consider the decision of the Upper Tribunal (Tax and Chancery Chamber) in which the Upper Tribunal declined to suspend the effect of a decision notice that had been issued to a firm, Money Matcher...more
In this decision report we consider the recent decision notice published by the FCA, in which the FCA detailed its reasons for proposing to impose a prohibition order on a fund manager. The Upper Tribunal previously held that...more
The court considered whether liability for a series of Financial Ombudsman Service (FOS) complaints had been transferred by way of an insurance business transfer scheme under Part VII of the Financial Services and Markets Act...more
We consider here the decision of the Upper Tribunal (Tax and Chancery Chamber) in which the tribunal upheld the FCA's decision to fine and prohibit a financial adviser, Clive Rosier, for poor record keeping and compliance...more
In December 2014, the tribunal handed down a decision that partly upheld the FCA's findings in respect of Ms Burns in connection with her conduct as a non-executive director (CF2) of two mutual societies. The tribunal found...more
6/9/2015
/ Appeals ,
Breach of Duty ,
Civil Monetary Penalty ,
Directors ,
Failure To Disclose ,
Financial Conduct Authority (FCA) ,
Financial Statements ,
FSMA ,
Reversal ,
Sanctions ,
Trade Market Abuse ,
UK
We consider here the FCA's enforcement action against Kenneth Carver for committing market abuse (insider dealing) in breach of section 118(2) of the Financial Services and Markets Act 2000 (FSMA) when purchasing shares on...more