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ARTICLE · 07 APRIL 2013

The Deterrent Effect – Effective Enforcement Is Here To Stay

SJ Berwin LLP
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Recent years have seen a sustained and highly visible increase in enforcement activity by the FSA, as it continues to pursue its credible deterrence strategy.

United KingdomFinance and Banking
Rachel Couter
Rachel Couter

Regulatory Risks and Enforcement Update

Regulatory risks

Recent years have seen a sustained and highly visible increase in enforcement activity by the FSA, as it continues to pursue its credible deterrence strategy. That strategy involves taking tough, targeted and effective public enforcement action against non-compliant firms and individuals as a way of changing behaviours across the financial services industry. The UK's new regulatory structure, including the transfer of the FSA's Enforcement and Financial Crime Division to the Financial Conduct Authority ("FCA"), will only further the emphasis on enforcement with confirmation that the agenda of credible deterrence will remain central to the FCA's enforcement approach. This all means that your firm and its management and staff need to be increasingly vigilant to avoid falling foul of the regulator.

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