Enforcement Watch Roundup Issue 33: January 2021 Post Editor's Note The regulators may not have levied the largest fines recently, but the nature of the cases they have concluded has been very varied. Enforcement Case Highlights News First FCA Enforcement Action for Breach of Short Selling Disclosure Regulations Asia Research and Capital Management Ltd (ARCM) has been fined £873,118 for breach of disclosure obligations relating to net short positions. News FCA Fine TFS-ICAP £3.4m for "printing" The FCA has fined inter-dealer broker TFS-ICAP ("ICAP") £3.4m in respect of deliberately misleading information provided to clients between 1 January 2008 and 31 December 2015 (the "Relevant Period"). News FCA Fines Barclays £26m over Treatment of Customers in Financial Difficulty The FCA has fined Barclays Bank UK plc, Barclays Bank plc and Clydesdale Financial Services Ltd (collectively Barclays) £26,056,400. News FCA fines Charles Schwab £8.96m for client asset failures The Financial Conduct Authority (FCA) has fined Charles Schwab UK Ltd (CSUK) £8.96 million for failing adequately to protect client assets, carrying out a regulated activity without permission and making a false statement to the FCA. On the horizon News Forthcoming FCA Guidance on vulnerability The well-publicised impact that the Covid-19 pandemic is having on household income and finances has given a new significance to pre-existing thematic FCA work on detecting and addressing consumer vulnerability. News FCA Reflections: Market abuse in a time of coronavirus On 12 October 2020, Julia Hoggett, the FCA's then Director of Market Oversight, delivered a speech on the FCA's approach to market abuse in a time of coronavirus at the City Financial Global event. News Consequences of Report Published into the FCA's Mishandling of the Regulation of LCF On 17 December 2020, Dame Elizabeth’s Gloster’s long awaited report into the collapse of London Capital & Finance plc (LCF) was published. News Whistleblowing: Stringent PRA and FCA Voluntary Requirement Published In December 2020, the PRA and FCA used their supervisory powers to impose a voluntary requirement on Tokio Marine Kiln Insurance Limited and Tokio Marine Kiln Syndicates Limited ("Tokio Marine"). Enforcement Watch Roundup Issues Issue 44 Sep 2024 Issue 43 May 2024 Issue 42 Jan 2024 Issue 41 Sep 2023 Issue 40 May 2023 Issue 39 Jan 2023 Issue 38 Sep 2022 Issue 37 May 2022 Issue 36 Jan 2022 Issue 35 Sep 2021 Issue 34 May 2021 Issue 33 Jan 2021 Issue 32 Sep 2020 Issue 31 Jun 2020 Issue 30 Jan 2020 Issue 29 Jul 2019 Issue 28 Apr 2019 Share
Post Editor's Note The regulators may not have levied the largest fines recently, but the nature of the cases they have concluded has been very varied.
News First FCA Enforcement Action for Breach of Short Selling Disclosure Regulations Asia Research and Capital Management Ltd (ARCM) has been fined £873,118 for breach of disclosure obligations relating to net short positions.
News FCA Fine TFS-ICAP £3.4m for "printing" The FCA has fined inter-dealer broker TFS-ICAP ("ICAP") £3.4m in respect of deliberately misleading information provided to clients between 1 January 2008 and 31 December 2015 (the "Relevant Period").
News FCA Fines Barclays £26m over Treatment of Customers in Financial Difficulty The FCA has fined Barclays Bank UK plc, Barclays Bank plc and Clydesdale Financial Services Ltd (collectively Barclays) £26,056,400.
News FCA fines Charles Schwab £8.96m for client asset failures The Financial Conduct Authority (FCA) has fined Charles Schwab UK Ltd (CSUK) £8.96 million for failing adequately to protect client assets, carrying out a regulated activity without permission and making a false statement to the FCA.
News Forthcoming FCA Guidance on vulnerability The well-publicised impact that the Covid-19 pandemic is having on household income and finances has given a new significance to pre-existing thematic FCA work on detecting and addressing consumer vulnerability.
News FCA Reflections: Market abuse in a time of coronavirus On 12 October 2020, Julia Hoggett, the FCA's then Director of Market Oversight, delivered a speech on the FCA's approach to market abuse in a time of coronavirus at the City Financial Global event.
News Consequences of Report Published into the FCA's Mishandling of the Regulation of LCF On 17 December 2020, Dame Elizabeth’s Gloster’s long awaited report into the collapse of London Capital & Finance plc (LCF) was published.
News Whistleblowing: Stringent PRA and FCA Voluntary Requirement Published In December 2020, the PRA and FCA used their supervisory powers to impose a voluntary requirement on Tokio Marine Kiln Insurance Limited and Tokio Marine Kiln Syndicates Limited ("Tokio Marine").