In our latest podcast, we discuss some of the key recent Financial Conduct Authority enforcement developments and outcomes, and key lessons learned for firms from these, including recent publicity developments and the cases concerning Nationwide Building Society, the Institute of Certified Bookkeepers and two former Finance Directors of Carillion plc.
For further information in this
In our latest briefing note, we explore the current enforcement hot topics and lessons learned from recent regulatory enforcement cases to help senior managers avoid the common pitfalls, reduce personal risk and stay out of the regulatory spotlight.
On 7 January 2026, the Financial Conduct Authority published Final Notices fining two former Finance Directors for their part in misleading statements being issued by Carillion plc (see Richard Adam Final Notice and Zafar Khan Final Notice). For the key takeaways from this case, as well as the key findings, please see our latest
On 22 July 2025, the Financial Conduct Authority (FCA) issued a Final Notice to Mr Alba, imposing a fine of £1,049,500 and prohibiting him in relation to the provision of false and misleading information to the FCA. For the key takeaways from this case, as well as the key findings, please see our
In the latest episode of our mini-series on the Chancellor’s Mansion House speech and Leeds Reforms, Katie Stephen, Matthew Gregory, Haney Saadah and Catherine Pluck discuss the proposals in relation to the Senior Managers and Certification Regime, as well as the proposals around authorisations.
Listen to our podcast here.
On 15 July 2025, HM Treasury (HMT), the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) each published consultation papers (CPs) setting out reforms to the Senior Managers and Certification Regime (SM&CR).
In December 2022, the government announced that HMT, the FCA and
The new failure to prevent fraud offence is due to come into force during 2025. In broad terms, in respect of the financial services community, it will mean that regulated firms of a certain size could be at risk in the event that fraud is committed for their benefit or the benefit of their clients
On 9 May 2023, the Prudential Regulation Authority (PRA) published Policy Statement PS4/23: Moving Senior Managers Regime forms from the PRA Rulebook. PS4/23 provides feedback to responses to Consultation Paper CP2/23 and contains the PRA’s final policy on its proposed changes to the Senior Managers Regime (SMR) forms.
Previous consultation
On 30 March 2023, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) jointly published Discussion Paper 1/23: Review of the Senior Managers and Certification Regime (DP23/3). DP23/3 follows the Government’s announcement in December 2022, as part of the Edinburgh Reforms, that HM Treasury, the FCA and
On 30 March 2023, HM Treasury published a Call for Evidence (CfE) on the Senior Managers and Certification Regime (SMCR). The CfE follows the Government’s announcement in December 2022, as part of the Edinburgh Reforms, that HM Treasury, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (