Enforcement Watch

Enforcement Watch

Issue 29
9379Editor's Note

Editor's Note

This issue sees a decision on Tinney (at last), some fighting talk on scammers, an upcoming prosecution for destruction of documents and of course SMCR just around the corner. And more besides. As ever, we hope you find it informative.

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Enforcement Case Highlights

23 July 2019: £30m Fine for Standard Life - read more

25 July 2019: Fines for Cathay Holdings and Two of its Directors - read more

16 August 2019: Upper Tribunal Finally Decides on Tinney- read more

9372

£30m Fine for Standard Life

The FCA has fined Standard Life Assurance Limited ("SLAL") £30.7 million, after a 30% settlement discount, for mis-selling annuities to customers from 1 July 2008 to 31 May 2016.

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9374

Fines for Cathay Holdings and Two of its Directors

The FCA has imposed on Cathay International Holdings Limited a financial penalty of £411,000, for breaches of the Listing Principles and of the Disclosure Rules and Transparency Rules ("DTRs").

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9377Upper Tribunal Finally Decides on Tinney

Upper Tribunal Finally Decides on Tinney

In September 2016, we reported on the Decision Notice in the case of Andrew Tinney.

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On the horizon

Andrew Bailey Speech at the Annual Public Meeting - read more

FCA Conducts 'Stocktake' of SMCR - read more

The fight against skimmers and scammers - read more

First Prosecution for Destruction of Documents - read more

SMCR Implementation for Solo-Regulated Firms - read more

9362Andrew Bailey Speech at the Annual Public Meeting

Andrew Bailey Speech at the Annual Public Meeting

In his address at the FCA’s Annual Public Meeting on 17 July 2019, Andrew Bailey took the opportunity to raise the resource intensive work of Brexit...

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9364FCA Conducts 'Stocktake' of SMCR

FCA Conducts 'Stocktake' of SMCR

It is now over three years since the implementation of the Senior Managers and Certification Regime (SMCR).

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9366

The fight against skimmers and scammers

On 4 September 21019, Charles Randell, Chair of the FCA delivered a speech at the Cambridge Economic Crime Symposium where he described the challenges which the FCA and other agencies face in tackling those he described as "skimmers and scammers".

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9368

First Prosecution for Destruction of Documents

The FCA has charged Konstantin Vishnyak, a former banker at VTB Capital, in relation to a destruction of documents offence under FSMA 2000.

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9370

SMCR Implementation for Solo-Regulated Firms

As readers of this publication will be aware, the Senior Managers and Certification Regime (SMCR) will apply to almost all firms regulated by the FCA only (Solo Regulated Firms) from 9 December 2019.

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