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Enforcement Watch Roundup

Issue 33: January 2021

Enforcement Watch Roundup
Adam Epstein Post

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.

Enforcement Case Highlights

Abstract image of building

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").


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.

On the horizon


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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