Tag Archives: FCA

Seeking cover in the new senior managers’ regime

Despite all the talk about personal accountability at board-level by politicians and regulators, there have been very few instances of prosecutions or enforcement against the senior managers of banks and other financial institutions. So, is there really any reason for … Continue reading →

Survey results show uptick in liability concerns for U.K. Directors

The results of our fifth annual survey of directors’ liabilities, which we run together with international law firm Allen & Overy, are now available. We’ve looked not only at the risks and exposures facing business leaders, but also at how … Continue reading →

Financial Conduct Authority: Imbalanced accountability

Financial Conduct Authority (FCA) fines total more than £3 billion in the five years up to April 2016 – with only a minuscule proportion levied on individuals. But the accountability imbalance is set to change. Mark Steward, Director of Enforcement … Continue reading →

Supreme Court victory for U.K. Financial Conduct Authority spells trouble for senior managers

The recent U.K. Supreme Court decision in Financial Conduct Authority V Macris has clarified the law—but not in a way that will give comfort to senior managers. Continue reading →

A new regulatory threat for directors of U.K.-listed companies

You are a director of a U.K.-listed company but not its Chief Financial Officer. A significant error is discovered in the financial statements going back several years, as a result of which the accounts have had to be restated. If … Continue reading →

Should general counsel have “overall responsibility” for a firm’s legal function?

Sounds like there should be an obvious answer to the question in my headline? Instead in the case of U.K. financial institutions it may turn out to be a case of “be careful what you wish for”. Continue reading →

Robo-advisers – an iron giant

At the beginning of June, the Financial Conduct Authority (FCA) launched its Advice Unit, designed to help “robo-advisers” – firms offering automated advice through online platforms to deliver cheaper advice to consumers. Advice gap I’d give you advice, but you … Continue reading →

Collateral Damage to Reputation: The Fight Back Continues

I’ve blogged before about the risk of collateral damage to reputation for individuals caught up in regulatory enforcement activity involving their employers. Now a new and successful challenge has been made by a manager of a major investment bank against … Continue reading →

The Relationship Between Regulation and Corporate Culture

corporate culture

The Financial Conduct Authority (FCA), formerly the Financial Services Authority, holds an Enforcement Conference every two years. The latest one, last month, was the first one under the new FCA regime. Continue reading →

Regulatory Review of 2014

year-in-review

As we close the book on 2014, we look back at the Financial Conduct Authority’s progress and select three important stories of 2014. Continue reading →