Photo of Catherine Pluck (UK)

The FCA Consultation Paper CP24/2: Our Enforcement Guide and publicising enforcement investigations – a new approach continues to be a key market focus. The latest developments include:

(i) correspondence between the Treasury Sub-Committee on Financial Services Regulations and the FCA (preceding the FCA giving evidence to the Sub-Committee on 8 May 2024 in one its regular

On 25 April 2024, the Financial Conduct Authority (FCA) published a letter that it sent to the House of Lords Financial Services Regulation Committee (FSRC) regarding its proposed changes, set out in Consultation Paper CP24/2, to its approach to publicising enforcement investigations. The letter responds to the FSRC’s letter of 22

On 27 February 2024, the Financial Conduct Authority (FCA) published a Consultation Paper (CP24/2) proposing, amongst other things, a new approach to publishing its enforcement investigations. Under the plans, the FCA proposes publishing an announcement that it has opened an enforcement investigation, including the identity of the firm which is subject to the

On 8 February 2024, the FCA published a statement confirming that the Upper Tribunal (UT) had decided not to suspend restrictions that the Financial Conduct Authority (FCA) has placed on e-money firm Nvayo Limited (Nvayo). These restrictions, which appear on the FCA’s register, include restrictions on the business

In the latest episode of our Decisions Decoded podcast series, we discuss the key points from the Final Notice issued against Floris Huisamen, former director of London Capital & Finance plc (LCF). In October 2023, LCF was publicly censured for its unfair and misleading financial promotions of minibonds. In connection with this, Mr

On 30 January 2024, the Bank of England (the Bank) and Prudential Regulation Authority (PRA) published Policy Statement PS1/24 which sets out a revised approach to enforcement for both PRA firms and financial market infrastructure firms. It followed Consultation Paper CP9/23 published in May 2023. There is now a new consolidated Bank

In our latest Regulation Tomorrow podcast, Senior Knowledge Lawyer Catherine Pluck is joined by Senior Associate Rebecca Dulieu and Associate Lizzie Cox, both of whom specialise in regulatory investigations and enforcement, to discuss reporting obligations under the Proceeds of Crime Act 2002 (POCA), in particular how to draft and submit good quality

To all of our global readers we would like to take this opportunity to wish you all a Merry Christmas and a Happy New Year.

We will resume posting material following the festive period on 9 January 2024 although if there are any significant developments we will endeavour to provide an update.

Summary

On 17 November 2023, the Financial Conduct Authority (FCA) announced that it has censured the holding company of the largest private healthcare operator in the United Arab Emirates (UAE), NMC Health Plc (in administration) (NMC), for misleading the market about its debt, and failing to declare related party