All FCA articles – Page 4
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ArticleU.K. regulator setting global example in facilitating technology growth
FCA-backed sandboxes set up for testing in a live environment have put British RegTech and FinTech ahead of the curve.
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Blog
What changed? FRC brings action in Autonomy scandal
The Financial Reporting Council has brought long-awaited charges against Autonomy executives for their role in the massive accounting fraud uncovered when Hewlett-Packard attempted to purchase the software firm in 2011.
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Article
Barclays’ CEO fined, but retained, as bank faces more scrutiny
Barclays CEO Jes Staley has been hit with hefty fines and penalties from U.K. regulators, but the bank is standing behind its man—will it pay the price for that decision?
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Article
Commission proposes law to beef up EU whistleblower protection
In light of recent high-profile scandals at such big wigs as Volkswagen, the European Union is proposing new laws to strengthen whistleblower protection for reporting both internally and to public authorities.
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Article
U.K. co-op compliance failures raise regulatory questions
A series of compliance setbacks at prominent U.K. co-ops have brought increased scrutiny to both the co-ops … and their regulators.
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Article
Negative feedback has impact on FCA Financial Services Register plans
The FCA has abandoned Financial Services Register plans that would have placed the responsibility for certifying the suitability of key people other than “senior managers” onto the firms.
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Article
FCA calls for technology for ‘smarter’ regulatory reporting
In a bid to cut down on firms’ “burdensome” reporting woes while easing its own workload to review such reporting, the Financial Conduct Authority is seeking input on how technology could make regulatory reporting simpler and more consistent.
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Article
Report: Royal Bank of Scotland abused small businesses during financial crisis
The U.K. Financial Conduct Authority has released a report detailing how RBS mistreated distressed small businesses over a six-year period starting in 2009.
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Blog
CFTC and UK’s FCA agree to collaborate on FinTech innovations
The U.S. Commodity Futures Trading Commission and the UK’s Financial Conduct Authority (FCA) have agreed to collaborate on international FinTech efforts.
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Article
The Escobar decision, one year later
A year after the Supreme Court more closely defined materiality and implied consent in False Claims Act cases, compliance officers still have more questions than answers.
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BlogFRC announces investigations into KPMG and PwC
The U.K. Financial Reporting Council, an independent investigative body that monitors and enforces accounting standards, is looking into audits made of financial services companies in the days preceding the global financial crisis of 2008-2009, starting with a delve into the work of two key accountancy firms—KPMG and PwC. Paul Hodgson ...
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Blog
FCA advises on new EU Market Abuse Regulation
The Financial Conduct Authority has published changes to its handbook, “Disclosure Guidance and Transparency Rules,” to help U.K.-listed companies comply with new EU Market Abuse Regulation (MAR) from 3 July this year. The handbook and MAR cover a very wide range of “market abuse” issues, such as insider dealing, improper ...
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Blog
FCA must not drop the ball on banking culture reforms
The U.K. Parliament’s Public Accounts Committee has issued a report that is not only deeply critical of the FCA’s decision to suspend its culture review of banks but also warns of “serious risks” of future mis-selling scandals. Paul Hodgson examines the report’s impact on U.K. bank culture.
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Article
Year in Review: Regulatory Enforcement in Europe
Image: For compliance officers in Europe, 2015 has been a big year. Aside from focusing on reporting wrongdoing and promoting a speak-up culture, watchdogs have been keeping compliance practitioners busy with a barrage of regulations that show no sign of easing. As compliance officers wonder to what degree the past ...
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Blog
Barclays: A Modern Enforcement Action for Modern Misconduct
Image: Last week the U.K. Financial Conduct Authority whacked Barclays with a fine of £72 million ($109 million) for sloppy oversight of a huge private-client deal brimming with financial crime risk. The more you read the details of the transaction and how poorly bank executives managed it, the more you ...
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Article
Latest Review of False Claims Act Compliance
Image: The Justice Department has settled a spate of False Claims Act cases with healthcare providers this fall, pointing to several important trends in FCA cases: increased scrutiny on physician payment arrangements, the broadening scope of whistleblowers, and an upsurge in FCA settlement amounts. “Enforcement agencies are aggressively using all ...
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Blog
U.K. Government Curbs Senior Managers Regime
The U.K’s Finance Ministry is scrapping a key part of the Senior Managers Regime that demanded senior managers prove that they took the necessary steps to prevent employee misconduct. Instead, a new “duty of responsibility” clause will require senior managers to take only the appropriate steps to prevent a regulatory ...
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Blog
U.K. FCA: Senior Managers To Be ‘Whistleblower Champions’
Image: The U.K. Financial Conduct Authority is calling on senior managers to serve as “Whistleblower Champions” and to play a lead role in protecting employees who come forward with critical information about misconduct. The rules are part of the Senior Managers Regime, which is slated to go into effect ...
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Blog
Martin Wheatley Resigns as FCA Chief Executive
The Financial Conduct Authority has announced that Martin Wheatley, its chief executive, will leave his post in September 2015. Wheatley was selected in 2013 to shepherd the creation of the U.K. regulator. His resignation was reportedly prompted by news that his contract would not be renewed next year. Director of ...
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Blog
Brit Banking Regulator: Market ‘Cleaner,’ Insider Trading Down
In its most recent Annual Report, the UK's Financial Conduct Authority stated that its "market cleanliness" statistics continue to show a "significant decline in the incidence of potential insider trading cases" since 2009. The improvement coincides with a significant increase in insider trading enforcement in the UK.