FSA review seeks separate investigations and action

A review of the enforcement decisions and actions systems was initiated by the FSA in February after the Financial Services and Markets Tribunal heavily criticised its regulatory processes in light of the Legal & General tribunal and “because it was evident that many affected by enforcement actions had doubts about the fairness of the process”, says the FSA review. The review committee now suggests confidential communications between the enforcement case team – which investigates potential breaches of FSA regulations – and the Regulatory Decisions Committee – which then decides whether t...