FCA eyes enforcement shake-up

Will consult on penalty payments and enforcement policy

Mike Sheen
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FCA's Andrew Bailey: "For enforcement our overriding principle is to provide substantive justice, aiming to achieve fair and just outcomes in response to misconduct and to ensure our rules and requirements are followed."
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FCA's Andrew Bailey: "For enforcement our overriding principle is to provide substantive justice, aiming to achieve fair and just outcomes in response to misconduct and to ensure our rules and requirements are followed."

The Financial Conduct Authority (FCA) is set to review its enforcement and supervision procedures, in efforts to better reflect its mission statement and achieve its goals of protecting consumers and market integrity.

In two documents explaining the regulator's approach to supervision and enforcement, published today (21 March), the FCA announced it was reviewing both its penalties policy and its enforcement guide, with consultation papers on each to be published later this year and in 2019 respectively. FCA Chairman Griffith-Jones outlines four key challenges for successor The FCA enforcement paper said: "Market integrity and consumer confidence is stronger when misconduct is identified and dealt with quickly and fairly through legal processes. "Improved detection increases public confidence in...

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