Enforcement could increase under MiFID II
On transactions between November 2007 and March 2017
Mark Starling defrauded investors of £3m
Will consult on penalty payments and enforcement policy
Substantial fine for former RBS trader
Follows an FCA criminal law suit
Caused ‘untold harm to consumers’
FCA’s total fines fall by 98%
Could face an additional three years behind bars
Speaking at annual public meeting
Fines also falling
‘Focused resolution agreements'
A UK futures trader has been accused by US authorities of contributing to the 2010 'flash crash' which saw the Dow Jones plunge 600 points in five minutes.
The government has asked the Financial Conduct Authority (FCA) to be more transparent in its supervision and enforcement actions, in a review released yesterday.
The Financial Conduct Authority (FCA) has found evidence of increasing professionalism in the financial advice sector, it said today, but one firm has been referred to enforcement for "insufficiently engaging" with RDR changes.