FCA and PRA enforcement action covers a range of misconduct with recent outcomes including both retail and wholesale cases and findings in respect of matters as various as customer treatment, market abuse and risk management. The details of the breaches and the activity which gave rise to the issues may vary but a consistent theme running through many of these cases is governance which is often both at the root of what went wrong and the key to putting things right. 

Based on our analysis and tracking of recent FCA and PRA enforcement cases, we set out in our latest briefing note some self-assessment questions in ten key areas that firms may wish to consider with a view to managing the risks of poor governance giving rise to regulatory failings.

We continuously monitor regulatory enforcement action and advise firms, their boards and senior managers on all aspects of governance with a view to meeting the expectations of regulators such as the FCA and PRA so please get in touch if a conversation would be helpful or if you have any particular queries.