The Financial Conduct Authority ("FCA") continues to
see its caseload increase to record levels despite the fact that it
is dropping more investigations than ever before. Recently
published statistics reveal that in the year ending March 2018 a
total of 208 investigations were ended compared to 115 in the
previous year and 98 in 2015/16.
The FCA's Enforcement Annual Performance Report 2017/18
reveals that the total number of cases open rose from 410 on 1
April 2017 to 504 as at 31 March 2018 despite the case closures,
meaning that an additional 302 cases were opened in that
period.
In 2017/18 the FCA issued 269 Final Notices and secured 317
outcomes using its enforcement powers (303 regulatory/civil and 14
criminal). Total financial penalties imposed during the period
2017/18 fell to £69.9m (6 against firms and 10 against
individuals) compared to £181m in 2016/17 (6 firms and 9
individuals) and £884.6m in 2015/16 (17 firms and 17
individuals) albeit the figures in
