Compliance Clarified – a podcast by Thomson Reuters Regulatory Intelligence
Series 9, Episode 1: UK Financial Conduct Authority's enforcement arm: "all bases covered" or "highly unsatisfactory"?
Sep 28, 2023
The podcast features guests Alexander Robson, Helen Parry, and Rachel Wolcott discussing the UK FCA's enforcement division. They debate whether it has 'all bases covered' or is 'highly unsatisfactory.' The challenges faced by the FCA, including lengthy enforcement cases and recent Upper Tribunal judgments, are explored. The Bluecrest case and its implications for the FCA's future strategy are also discussed. The podcast covers enforcement actions and trends by the FCA, including fines and actions related to anti-money laundering, comics fraud, and unauthorized crypto ATM operators. Litigation involving Ram Prakash Gopi and his pursuit of claims against the FCA is highlighted.
28:45
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Quick takeaways
- The UK Financial Conduct Authority's enforcement division is facing challenges in closing cases efficiently and improving disclosure procedures.
- The FCA's recent leadership changes and focus on technology highlight its commitment to improving enforcement strategies.
Deep dives
The FCA's Enforcement Strategy and Leadership Changes
The episode discusses the UK Financial Conduct Authority's (FCA) Enforcement Strategy and the recent changes in its leadership. The FCA appointed Theresa Chambers and Steve Smart as Joint Executive Directors of Enforcement and Market Oversight. The FCA has also created a new legal division and appointed Stephen Roman to lead it. The episode highlights the importance of technology in the FCA's enforcement strategy.
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