The Financial Conduct Authority (FCA) has confirmed that, as part of its evolving strategy, it is currently driving earlier intervention with supervisory tools, market oversight and proactive detection. The FCA makes the point that this is not separate from enforcement – these outcomes are enforcement “even if they don’t look like the kind you’re used to”.
To assist firms in dealing effectively with early intervention by regulators in our latest briefing note we set out: (i) a reminder of the key supervisory tools at the disposal of the FCA and/or Prudential Regulation Authority; (ii) case studies illustrating some potential pitfalls for firms; and (iii) key considerations for firms when responding to interventions.
We regularly advise on preparing regulated firms for responding to assertive supervisory action and intervention (including training), as well as supporting them in managing their relationship with the regulators and other third parties throughout the process. Please contact us should you require more information on how we can help.