The Financial Conduct Authority (FCA) and the Insolvency Service have committed to increased collaboration around enforcement activities by signing a document that permits them to share relevant information.
Both bodies signed a memorandum of understanding that stated the two can share information relating to misconduct, investigations and enforcement so both organisations can better use their powers to tackle corporate and financial misconduct and crime. The information can be shared when one body requests it from the other, or passed from one to the other when the information is considered to be relevant. According to the memorandum, the FCA will use the information to inform its decisions whether to take regulatory action against an individual or firm. The Insolvency Service will use t...
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