FCA enforcement activity against firms on the decline

‘The FCA may be adopting a lighter regulatory touch’

Sahar Nazir
clock • 2 min read

There has been a decline in Financial Conduct Authority (FCA) enforcement activity against both firms and individuals in the last financial year, according to a Freedom of Information request.

Analysis of the request by law firm Reed Smith reported a decreased number of enforcement cases opened and closed in the financial year ending 31 March 2023, which it said hinted at a potential shift in regulatory priorities. The number of enforcement cases opened against firms fell by 67 percentage points from 79 to 26 - while cases opened against individuals fell by 33 percentage points from 111 to 74. Meanwhile, the number of cases closed against both firms and individuals fell by 10% and 44% respectively in the last financial year. For firms, unauthorised collective investment ...

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