- Enforcement to support supervisory objectives: Enforcement action
BoE speech – A sea change in regulatory investigations and enforcement
FCA speech – Beyond the headlines: the unseen fight against financial crime
- Changing threat: Financial crime
FCA publishes consultation paper in relation to its Decision Procedure and Penalties Manual
On 15 June 2026, the Financial Conduct Authority (FCA) published a Consultation Paper (CP26/19) in relation to proposed changes to its Decision Procedure and Penalties Manual (DEPP).
Background
The DEPP sets out how the FCA makes enforcement decisions and calculates financial penalties, including a five-step process for calculating the
FCA letter to Financial Services Regulation Committee on lessons learned from its consultation on publicising more enforcement investigations
On 11 June 2026, a letter was published from Nikhil Rathi, Chief Executive of the Financial Conduct Authority (FCA), to Baroness Noakes DBE of the House of Lords Financial Services Regulation Committee, in which Mr Rathi: (i) sets out the conclusions from the FCA’s lessons learned exercise in relation to its consultation on
FCA and OFSI MoU
On 5 June 2026, the Financial Conduct Authority and Office of Financial Sanctions Implementation entered into a Memorandum of Understanding (MoU). The MoU sets out the arrangements for cooperation and exchange of information between the two regulators and replaces an earlier MoU dated 21 November 2023.
New briefing note: AI and privilege part two, regulatory inquiries and investigations – Key considerations for professional services and financial services firms
We have published the second briefing in a two-part series examining the intersection of artificial intelligence (AI) and legal professional privilege in the context of investigations. Part 1 in this series addressed: (i) a recap on key privilege principles and their interaction with generative AI tools; and (ii) privilege considerations arising in internal
Ultra Electronics Deferred Prosecution Agreement: Five Key Points
The Serious Fraud Office (SFO) has entered into its first Deferred Prosecution Agreement (DPA) in five years. The agreement with Ultra Electronics Holdings Limited (Ultra), a British defence, security and aerospace manufacturer, covers historic alleged conduct relating to failure to prevent bribery under the UK Bribery Act 2010 (
FCA publishes findings from a review of sanctions systems and controls in firms
On 28 May 2026, the Financial Conduct Authority (FCA) published its findings in relation to financial firms’ controls, highlighting good and poor practices and areas for improvement to support better compliance with sanctions rules.
Background
The FCA highlights that over the past four years, the UK’s sanctions regimes have grown in scope and
New briefing note: Whistleblowing – Key steps for regulated firms and individuals when considering and handling protected disclosures
Whistleblowing can take many different forms, can encompass a wide range of different concerns and can vary in terms of seriousness. However, there is at least one constant: knowing when to report and dealing with concerns raised both require careful handling and consideration if regulated firms and individuals are not to create additional problems for
Notice in a nutshell update: FCA fines former chief executive and issues Primary Market Bulletin 62
At the start of this year, the Financial Conduct Authority (FCA) issued Final Notices against two former finance directors of Carillion plc (Carillion), Mr Adam and Mr Khan, in connection with misleading announcements, having reached a settlement with them ahead of the Upper Tribunal proceedings. We previously wrote about this development