Enforcement Watch

Issue 31
6846Adam Epstein

Editor's note

I hope our readers are all managing to adapt to the new normal that we are living through. This edition of Enforcement Watch has a particular focus on what we may see coming down the line, and I hope you will be able to pick out some items of particular interest to you.

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Enforcement Case Highlights

6 February 2020: The first PRA enforcement action against individuals involved in a credit union leads to two bans and three public censures - read more

28 April 2020: Court examines privacy issues in FCA matter - read more

15119

The first PRA enforcement action against individuals involved in a credit union leads to two bans and three public censures

On 6 February 2020, the PRA took action to ban non-approved person Michael Grimsdale and former approved director Richard Nichols from the financial services industry on the grounds of lack of integrity (and dishonesty on the part of Mr Grimsdale).

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15121

Court examines privacy issues in FCA matter

When does the potential disclosure of confidential information to the public mean a private hearing will be held?

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On the horizon

Mark Steward Gives Speech on Strategic Approach to Market Integrity - read more

Coronavirus, Senior Managers and Enforcement - read more

FCA Business Plan 2020/2021: Notable Enforcement Themes - read more

Third party service provider outsourcing: assessing where ultimate regulatory responsibility lies - read more

Algorithmic trading and market abuse - read more

15127

Mark Steward Gives Speech on Strategic Approach to Market Integrity

On 6 February 2020, Mark Steward, the FCA's Executive Director of Enforcement and Market Oversight, delivered a speech on the FCA's approach to market integrity in the UK's securities market to the Practising Law Institute's Annual Institute on Securities Regulation in Europe, London.

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15163

Coronavirus, Senior Managers and Enforcement

As readers will know, the Senior Managers and Certification Regime (SMCR) has been in force for firms regulated by both the PRA and the FCA ("dual-regulated firms") since March 2016.

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15138

FCA Business Plan 2020/2021: Notable Enforcement Themes

On 7 April 2020, the FCA published its Business Plan 2020-2021.

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15140

Third party service provider outsourcing: assessing where ultimate regulatory responsibility lies

Firms are increasingly relying on technology provided by third parties, such as the Cloud, to gain entry to new markets, to lower operating costs, to fuel innovation and to adapt to the digital economy.

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15142

Algorithmic trading and market abuse

In the FCA's report, Algorithmic Trading Compliance in Wholesale Markets (the 'Report'), published in February 2018, it recognised that firms operating in wholesale markets were increasingly using algorithms for a number of purposes across their trading activity.

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