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ARTICLE · 30 SEPTEMBER 2024

Is Less More? The FCA's Evolving Approach To Enforcement

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Therese Chambers, FCA joint executive director, emphasized a faster, more focused enforcement approach, prioritizing high-risk conduct. She addressed industry concerns on transparency during investigations and highlighted the need for robust systems, controls, and risk management amid volatile market conditions...

United KingdomFinance and Banking
Alexandra Green
Alexandra Green
Michael Sholem
Michael Sholem
Rachel Serene
Rachel Serene

Therese Chambers, joint executive director of enforcement and market oversight, spoke at the AFME Annual Compliance and Legal Conference on the FCA's changing approach to enforcement.

The speech emphasised that the FCA will be intervening earlier and acting faster. The FCA will intentionally streamline caseloads and focus on investigations aligned with its strategic priorities. A key aspect of this will be identifying cases where they believe conduct is creating the greatest risk of harm and where an investigation is most likely to drive the greatest deterrent. Ms Chambers explained that "whilst we may be opening fewer investigations, we expect to see a greater number of outcomes and a greater impact from our enforcement activity".

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