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ARTICLE · 01 MARCH 2017

UK Regulators Finalize Changes To Enhance Their Enforcement Decision-Making Processes

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On February 1, 2017, the Financial Conduct Authority and PRA published a joint Policy Statement on changes to their enforcement decision-making processes.

United KingdomFinance and Banking
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On February 1, 2017, the Financial Conduct Authority and PRA published a joint Policy Statement on changes to their enforcement decision-making processes. The changes are in response to the recommendations set out in HM Treasury's Review of enforcement decision-making at the financial services regulators (known as the Enforcement Review), published in December 2014, and the report by Andrew Green QC in the enforcement actions following the failure of HBOS (known as the Green Report), published in November 2015. The Enforcement Review and the Green Report made three overlapping recommendations about the regulators' decision-making processes covering pre-referral decision-making, communication and cooperation between and within the regulators and informing the subject of an investigation about the matters under investigation.

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