Enforcement Watch Roundup

Issue 33
6941Adam Epstein

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.

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Enforcement Case Highlights

First FCA Enforcement Action for Breach of Short Selling Disclosure Regulations - read more

FCA Fine TFS-ICAP £3.4m for "printing"- read more

FCA Fines Barclays £26m over Treatment of Customers in Financial Difficulty- read more

FCA fines Charles Schwab £8.96m for client asset failures- read more

18954

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.

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18956

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").

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18960

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.

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18962

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.

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On the horizon

Forthcoming FCA Guidance on vulnerability - read more

FCA Reflections: Market abuse in a time of coronavirus- read more

Consequences of Report Published into the FCA's Mishandling of the Regulation of LCF- read more

Whistleblowing: Stringent PRA and FCA Voluntary Requirement Published- read more

18964

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.

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18985

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.

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18969

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.

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18972

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").

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