Investigations and enforcement

Earlier this year the UK Financial Reporting Council (FRC) published its plan and budget for 2024-25 (the 24-25 Plan), setting out its revised strategic objectives. The FRC is aiming for a year of “consolidation and prioritisation”, with a key priority being to further embed the FRC’s ‘growth duty’ into all regulatory decision

On 14 June 2024, the FCA published its latest whistleblowing data for Q1 2024.  The data includes the method of reporting, the nature of the report and the action taken by the FCA.  The headline figures include the following:

  • In Q1 2024 (January to March): the FCA received 298 new whistleblowing reports, containing 801 allegations

The FCA recently confirmed its first ESG-related enforcement investigation and it appears likely from further information which has since emerged that the investigation concerns climate-related issues but not greenwashing.

The investigation was referenced by the FCA on 7 May 2024 in a letter from the FCA to the Chair of the Treasury Sub-Committee on Financial

In the first episode of the Global Investigations Podcast Series, Andrew Reeves (Partner, Investigations, Enforcement and Compliance team, London) is joined by Ruth Cowley (Head of Disputes and Investigations, London), Keith Rosen (Head of Risk Advisory, US) and Sharon Oded (Head of Investigations, Amsterdam) to discuss the early stages of an investigation; best practice in

Introduction 

Whistleblowing is on the rise – both within organisations and to authorities. An increase in whistleblowing is positive: it shows employees feel able to speak up, allows issues to be escalated, investigated and where necessary remediated. However, the increase in whistleblowing also presents challenges for companies to ensure that they are dealing effectively and

As the FinTech industry continues to experience increased regulation across multiple jurisdictions, the focus of sanctions authorities is turning to decentralised finance (DeFi) and those operating in the crypto space. In the US we have seen a wave of recent enforcement actions against participants in the crypto sector and strong statements from authorities

On Wednesday 12 June 2024, as part of our global ESG webinar series, please join us for the third instalment of this webinar series, as we expand on the greenwashing discussion held in the first webinar.

This webinar will feature a discussion from our NRF financial services enforcement team to provide a perspective on greenwashing

This is the second article in our series breaking down the steps that companies will need to take to put in place “reasonable procedures” to prevent fraud. Our first post, which focussed on how to conduct effective fraud risk assessments, can be found here.  

This comes ahead of the new UK failure to

Following on from our previous blog in relation to FCA CP24/2 (Our Enforcement Guide and publicising enforcement investigations – a new approach), the House of Lords Financial Services Regulation Committee has closed its call for evidence following the prorogation of Parliament on 24 May 2024. When committees are reappointed in the new Parliament following

Many companies are currently considering what steps they need to take in relation to the new UK failure to prevent fraud offence (which is expected to come into force later this year or in early 2025).

By way of recap, a company will be liable for failing to prevent fraud by its associated persons (e.g.