Enforcement actions by the UK financial watchdog slumped during the last financial year ended March 31, 2023. The number of cases opened against firms and individuals fell 67% and 33% to 26 and 74, respectively. Similarly, the number of closed cases against firms dropped 10% and against individuals decreased 44%.
Overall, the UK Financial Conduct Authority (FCA) handled a total of 100 new cases during the period and closed 107, compared to 190 and 159, respectively, in the prior year. The figures are based on data gathered over three years by the global law firm, Reed Smith through Freedom of Information (FOI) requests to the FCA.
‘Enforcement 40’ for 2020
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedIn