Enforcement Watch

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.

£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.

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").

Upper Tribunal Finally Decides on Tinney

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

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...

FCA Conducts 'Stocktake' of SMCR

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

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".

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.

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.