Catherine Pluck (UK)

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Enforcement Update – vulnerable customers, AML and market disclosures

After a relatively quiet start to the year on the enforcement front, the FCA published three notable Final Notices in June 2020. All relate to areas which have been a focus for the FCA for some time: the fair treatment of customers experiencing financial difficulty (especially important in light of Covid-19); AML controls; and ensuring … Continue Reading

UK Finance Paper on Cyber Incident Management

On 1 July 2020, UK Finance, which represents over 250 firms across the banking and finance industry, published a paper on managing cyber incidents, designed to assist firms in thinking about their response plans. The paper emphasises the importance of firms being able to action an effective response to a cyber-attack and key takeaways include: … Continue Reading

FCA Enforcement Activity: The 2017/18 Annual Performance Report

The FCA has published its Enforcement annual performance report 2017/18, which provides an overview of the FCA’s enforcement activities over the last year. In summary, the FCA is opening more cases, but the average financial penalty has fallen significantly by around 65% and, although the average cost of civil and regulatory cases is down, the average … Continue Reading