Two years ago the Financial Conduct Authority (FCA) committed to being a more “innovative, assertive and adaptive regulator” and its focus on quicker and assertive supervisory action, alongside tougher enforcement, has been a consistent message from the regulator ever since. In a climate where firms are expected to manage hugely significant regime changes, combined with a cost of living crisis impacting businesses and consumers, it has never been more important for firms to ensure that they are able to respond swiftly to early intervention by the FCA or the Prudential Regulation Authority (PRA), with a view to avoiding or mitigating the consequences of a referral to enforcement.

In our latest briefing note, we summarise: (i) some of the key tools at the disposal of the FCA and/or PRA when it decides to intervene in respect of a regulated firm; (ii) recent changes made by the FCA to its regulatory decision-making processes in connection with the relevant powers; and (iii) some considerations for firms when responding to interventions. Our briefing note can be found here.