The regulator’s newest caseload sheds some light on the latest priorities, and could well lead to important outcomes relating to the SMCR and the Consumer Duty.
By Andrea Monks, Nell Perks, Becky Critchley, Rob Moulton, Nicola Higgs, and Charlotte Collins
The FCA’s approach to regulatory enforcement has shifted in recent years, moving away from a broad-brush approach to one that is more selective in order to focus on “impactful deterrence”. In short, this means the FCA is bringing fewer enforcement cases, and focusing on the cases most likely to succeed in as short a time as possible, in an effort to send the right signals in the right areas to the market.
In this article, we highlight some of the key trends and enforcement hot spots. While firms will, of course, seek to avoid the attention of the enforcement team, we set out important considerations for firms to bear in mind should they be faced with the possibility of enforcement, in light of the current enforcement climate and the FCA’s most recent expectations.
For more information, see this Latham article.