UK Economic Crime Group: Enforcement Update

Executive Summary

In this edition of the UK Enforcement newsletter, we provide an update on recent economic crime matters in the UK. We consider anticipated legislative and regulatory updates, as well as recent actions from the Serious Fraud Office (SFO), the Financial Conduct Authority (FCA), and the Financial Reporting Council (FRC).

With respect to legislative and regulatory reform and enforcement actions, we consider the following:

• An update on the evolving SFO under new Director Nick Ephgrave
• The FCA adding Metro Bank to its financial crime watchlist over online account concerns
• The first year of the Public Sector Fraud Authority (PSFA)
• Continuing uncertainty over the future of the FRC