Investigations

The focus of this blog is to provide insights into the latest trends, risks and developments in financial services investigations, including those conducted by the FCA, the PRA and other overseas regulators. Set out below are Allen & Overy’s thoughts on the latest developments in this area.

FCA annual report 2017/18: Enforcement highlights

Sarah Hitchins

Yesterday afternoon the UK Financial Conduct Authority (the FCA) published its Annual Report. Alongside the Annual Report, the FCA also published its usual Enforcement Annual Performance Report (the Report), which sets out an overview of the FCA’s enforcement activities during 2017/18. Set out below are some of the key points highlighted by the Report.   Read More

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Know Your GDPR: self-reporting and enforcement considerations for contentious regulatory lawyers

Stacey McEvoy

With the recent implementation of the General Data Protection Regulation, many financial services institutions are asking themselves what it may mean from a more traditional financial services regulatory perspective, particularly in terms of firms’ ever-present reporting obligations. A&O has recently published a detailed guide to the GDPR for Litigators which deals with questions relating to Read More

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ASIC’s new Chairman promotes ASIC’s enforcement record and outlines his proposed approach to steadying the ship in choppy waters

Edward Einfeld

The new Chairman of the Australian Securities and Investments Commission (ASIC), James Shipton, has welcomed the work of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (Financial Services Royal Commission) and noted that many of the matters that have been raised have already been, or continue to be, the subject Read More

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Whistleblower update: SEC & CFTC programs busy in 2018

Kurt Wolfe

It has been a busy year for the SEC and CFTC whistleblower programs. From time to time, we like to update our readers on key whistleblower developments in the U.S., and there have been a number of noteworthy developments this year that warrant a closer look. As discussed below, already in 2018, the U.S. Supreme Read More

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Market abuse controls: Global approaches vs. local requirements – which one wins?

Sarah Hitchins

The UK FCA recently imposed a financial penalty of just over £1 million on an online brokerage firm for failing to have adequate controls to identify and report potential market abuse. Each of the FCA’s findings can be traced back to one root cause: reliance on a global approach to identifying and reporting market abuse, Read More

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