In its first year, the Financial Services Authority published 30 Final Notices and imposed just over £9.9 million in financial penalties on firms and individuals.
Fast-forward 13 years and the playing field looks very different.
In 2014 alone, the Financial Conduct Authority published 113 Final Notices and imposed almost £1.5 billion in financial penalties on firms and individuals. 2015 is set to be another bumper year.
So it is unsurprising that the risk of regulatory action by regulators in the UK and elsewhere is a top risk affecting financial institutions and increasingly those who work for them.
It has never been so important for financial institutions and the lawyers and compliance officers who advise them to have an in-depth understanding of how regulators operate and emerging themes, trends and risks associated with regulators’ agendas, priorities and approaches.
It is these emerging themes, trends and risks that we will be covered on this blog. We hope readers find it useful and we would welcome your views on any of the issues that we cover.
To receive updates from Investigations Insight by email as and when new content is posted, please sign-up in the box on the top right of the screen.
