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Enforcement Watch

Issue 29: July 2019

Enforcement Watch
Editor's Note News

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.

Enforcement Case Highlights

 News

£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.

 News

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").

On the horizon

 News

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".

 News

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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