FCA enforcement cases on the rise
22 July 2022
The FCA published its Annual Report this week, which included a summary of its enforcement activities (for the period 1 April 2021 to 31 March 2022).
The data reveals an increase in the number of enforcement cases opened by the FCA and the regulator's continued focus on investigating individuals.
The time the FCA is taking to complete regulatory investigations (33 months on average) is an area of real concern. It is quite apparent that the FCA has a workload in excess of what it is capable of handling given resource constraints (the figures report an 11% fall in enforcement headcount). This places a particular strain on individuals being investigated, as they have a cloud hanging over them for an extended period of time.
Authors: Adam Jamieson, Partner and Nathan Willmott, Partner
The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to.
Readers should take legal advice before applying it to specific issues or transactions.
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