The Financial Conduct Authority's (FCA) independent arbitration panel, the regulatory decisions committee (RDC), saw case referrals jump by nearly two-thirds (65%) in 2017.
According to data collected by legal advice firm Cleveland & Co, 476 cases were referred to the RDC in 2017, up from 289 in 2016. The RDC makes certain decisions on behalf of the FCA relating to enforcement and supervisory actions for firms, as well as firm authorisations. The RDC is the final stage of decision making for the FCA, and decides on warning notices including those for financial penalties, suspensions, and public censures. Cleveland & Co said the jump in referrals suggested an acceleration in FCA investigations and could be linked to a renewed clampdown on misconduct by f...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
