If you compare Guernsey and Jersey enforcement action, it is clear that the GFSC is winning the Murratti of enforcement (so far). With over £1 million in fines and numerous public statements and prohibited from performing functions under the relevant regulatory laws Guernsey are living up to their promise to be enforcement led. The enforcement […]

This Consultation Paper includes proposed changes to the FCA’s Decision Procedure and Penalties Manual and Enforcement Guide. Why are we consulting on this? On 18 December 2014, HM Treasury published its ‘Review of enforcement decision-making at the financial services regulators’. The focus of the review was on the transparency, fairness, effectiveness and speed of the […]

Enforcement matters Delegates at City & Financials financial crime conference (March 6 2014) were told that Two firms face enforcement action from the Financial Conduct Authority for anti-money laundering failures, While the regulator is considering such action against three [3] others. Last year the FCA [FSA] made six ‘early interventions’ in banks where it discovered […]