Regulators ramp up enforcement actions on individuals

FCA’s total fines fall by 98%

Seven enforcement actions each day were taken against individuals by global financial regulators in 2016, with individuals four times more likely to be disciplined than firms, according to research from Duff & Phelps.

The firm's report, Global Enforcement Review 2017, found that 1,761 individuals had proceedings brought against them by financial regulators across the UK, USA and Hong Kong. FCA to bolster Senior Managers Regime with new accountability requirements The UK saw the most dramatic relative increase in individual enforcement action, with 64% of all regulatory clampdowns being aimed at individuals, up from just 37% in 2014. Similarly, although a much less active regulator with regards to enforcement, 60% of the Prudential Regulation Authority's (PRA's) enforcement actions in 2016 were t...