The Financial Conduct Authority (FCA) has published the updated version of its Enforcement Guide (now to be known under the new acronym ENFG, in place of the old ENF), which came into force on 3 June 2025. It has implemented the bulk of its proposed changes to streamline its enforcement guidance, although there are some areas where it has decided not to take proposals forward or clarified the drafting which had been proposed in the consultation. Key points include confirmation of the FCA’s approach in connection with:
- investigation announcements;
- legal advisers at compelled interviews;
- sharing of privileged material; and
- future consultation on the ENFG.
For further information, please see our more detailed briefing here.