On 15 November 2024, the Financial Conduct Authority (FCA) and the Financial Ombudsman Service (FOS) issued a Call for Input on modernising the redress system.
By issuing the Call for Input the FCA and FOS want to hear from stakeholders to better understand:
On 11 November 2024, the Financial Conduct Authority (FCA) published a webpage setting out the outcome of its enforcement regulatory disclosure review. The review was carried out following a recommendation from the Upper Tribunal.
The FCA confirms that it has completed the review and made a number of changes to its disclosure processes
In our latest podcast, our global Financial Services team discusses promotional messages on social media platforms, covering recent regulatory and enforcement developments in the UK, US and Dubai, as well as practical steps that global firms can be taking now in this area to manage their risk.
Listen to the episode here.
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On 11 October 2024, the European Securities and Markets Authority (ESMA) issued its first consolidated report on sanctions imposed by Member State competent authorities in 2023.
In all 976 administrative sanctions and measures were taken by Member State competent authorities (NCAs).
The purpose of the report is to foster discussion among
Speak up and other internal investigations are on the rise (see our article here) amid increasing scrutiny from the media, public, authorities and other stakeholders of how investigations are conducted. Indeed, in higher profile matters the way in which an investigation is conducted can receive as much attention as the underlying issues.
The recent
On 17 September 2024, the Financial Conduct Authority (FCA) published a speech (dated 5 September 2024) given by Andrea Bowe (FCA Director of Specialist Directorate) entitled Frameworks for effective fraud prevention measures.
Highlights from the speech include:
On August 1, 2024, the US Department of Justice (DOJ) officially rolled out its Corporate Whistleblower Awards Pilot Program. The program is focused on financially incentivizing whistleblowers to report allegations of corporate crime.
Read our alert here.
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
On 28 March 2024, the Bank of England (BoE) published a Consultation Paper (CP) on proposed changes to statements of policy and procedure following the Financial Services and Markets Act 2023 (FSMA 2023).
FSMA 2023 introduced several important updates to the UK’s regulatory framework for financial services and certain
On 13 March 2024, the European Parliament issued a press release stating that it had adopted its first reading position on the alternative dispute resolution (ADR) proposal, which allows consumers to, submit complaints against traders to entities offering independent, fast and affordable consumer redress.
Since they were established in 2013, the EU’s rules