‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInA Review of Financial Services Enforcement and Investigation in the UK | Insights | Linklaters
As the agency primarily responsible for the investigation of potential misconduct within the financial services sector in the UK, the Financial Conduct Authority (FCA) continues to investigate many diverse forms of suspected misconduct. While the number of cases under investigation by the FCA’s Enforcement Division continues to grow, there have been signs in the past […]
FCA bans insider trader 7 years after conviction – FTAdviser.com
The Financial Conduct Authority has banned a former equities dealer at Legal & General Investment Management seven years after he was sentenced to prison for insider trading. Paul Milsom pleaded guilty in January 2013 to insider dealing following a large-scale probe by the Financial Services Authority and two months later was sentenced at Southwark Crown Court to two years imprisonment. […]
UK jury fails to reach verdict in insider trading case | Financial Times
The jury at London’s Southwark Crown Court was split in its deliberations over Fabiana Abdel-Malek, 36, and her friend, Walid Choucair, 39, whom the UK financial watchdog accused of five charges each in the first major case of insider trading to reach court in over two years. via UK jury fails to reach verdict in […]
FCA blocks Steven Cohen plan to relaunch UK hedge career – Citywire
US hedge fund manager Steven Cohen has had his application to open up his new fund to UK investors blocked by the Financial Conduct Authority (FCA) once again. via FCA blocks Steven Cohen plan to relaunch UK hedge career – Citywire.
Insider dealing has gone on unpunished, lawyers claim | The Times & The Sunday Times
Financial watchdogs have been distracted by benchmark rate manipulation and have taken their eyes off more run-of-the-mill cases of insider dealing, lawyers have said. Reacting to figures revealed by The Times on Friday showing that white-collar criminals had been acting with impunity, legal experts argued that the Financial Conduct Authority had sacrificed other investigations while […]
FCA fines tally falls to 15-year low | Digitallook.com
With a few working days remaining in 2017 the City regulator has imposed 13 fines totalling £229.5m on companies and individuals. Last year the FCA imposed 23 fines valued at £22.2m. The number of penalties in 2017 is the lowest since the Financial Services Authority imposed nine fines worth a total of £7.4m in 2002 […]
FCA’s crime chief Claire Lipworth quits at key time for watchdog — FT
The most senior criminal lawyer at the Financial Conduct Authority is leaving to join a law firm at a key moment for the watchdog. Claire Lipworth, chief criminal counsel for the past three years and one of its most senior lawyers for the last eight, will join Hogan Lovells in April as a partner in […]
Standard Chartered’s Investigations Head Leaves Bank for FCA – Bloomberg
The head of Standard Chartered Plc’s internal investigations unit has left the bank to join the Financial Conduct Authority, according to the U.K. regulator. Michael Welch, who previously ran the FBI’s international operations, was appointed the FCA’s director of retail and regulatory investigations this month, a spokesman for the regulator said. He will report to […]
Decline in the number of successful FCA market abuse cases — Investigations Insight
Tackling market abuse has long been a priority of the FCA and the FSA before it. However, in recent years there has been a noticeable decline in the number of successful civil market abuse cases brought by the FCA, with only two public outcomes published in 2014/15 (a drop of 88% from the number of […]
The FCA’s new enforcement referral criteria — Investigations Insight
In response to recommendations made by HM Treasury at the end of last year, the FCA has published an updated set of enforcement referral criteria, which it will use to determine which cases should be referred to the FCA’s Enforcement Division for investigation. But what – if any – difference will the FCA’s new enforcement […]