Regulatory Investigations Update - February 2014

The first edition of this Update for 2014 summarises developments which both reflect the FCA’s ongoing concerns and provide an indication of the areas likely to take up significant enforcement time in the year ahead. As regards the former, we have already seen further fines for financial crime systems and controls failings and a decision to ban a senior executive. Representing the latter are decisions concerning emerging issues such as transition management. In terms of process, we have also seen the publication by the FCA of its first warning notice statements. Further analysis of the likely trends in FCA enforcement work during 2014 can be found in our recent client note, FCA Enforcement Trends 2014. One key challenge for the regulator this year will be balancing the demands of resource-intensive cross-border investigations whilst maintaining the flexibility to respond quickly to other issues which threaten its strategic and operational objectives.

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