FCA: More investigations under MiFID II won't mean more resources

Speaking this afternoon at the AFME European Compliance and Legal Conference, the FCA's executive director of enforcement and market oversight Mark Steward said the incoming European-led regulation would deliberately create lower thresholds so the regulator would have a wider discretion to act "where there are serious concerns but not much hard evidence to really go on". Although it must still act reasonably and fairly when there is "not much to go on", Steward explained, the regulator would investigate where it suspected serious misconduct may have occurred. This would not lead to ad...