Last 113.6 Low 113.6 High 116.8 Change -1.2 Change % -1.0453 Bid 113.8 Ask 114.6 Currency GBX No Shares 0

Enforcement Watch Roundup

Issue 36
7297

Editor's note

This last period has seen some pretty eye watering fines levied in a variety of areas. We discuss below our thinking on some of them. As for what the future holds, On the Horizon looks at how aspects of enforcement in future may be greener and more consumer focused. We hope you find our round up interesting. Click here to see the team.

Read more

Enforcement Case Highlights

19 October 2021: The FCA fines Credit Suisse over fishy business - read more

14 December 2021: FCA fines HSBC £63.9m for deficient transaction monitoring controls- read more

17 December 2021: PRA fines Standard Chartered Bank £46 million for liquidity reporting failures- read more

22 December 2021: BlueCrest Capital Management Decision Notice Fine of £40.8m- read more

22972

The FCA fine Credit Suisse over fishy business

On 19 October 2021 the FCA confirmed in a Final Notice that it was fining Credit Suisse £147,190,200 over serious failings in its financial crime controls in the wake of the "tuna bonds" loan scandal.

Read more
23600

FCA fines HSBC £63.9m for deficient transaction monitoring controls

The Financial Conduct Authority (FCA) has imposed a financial penalty on HSBC Bank plc (HSBC) of £63.9 million, using its powers as a designated authority under the Money Laundering Regulations 2007 (ML Regulations).

Read more
23541

PRA fines Standard Chartered Bank £46 million for liquidity reporting failures

The Prudential Regulation Authority (PRA) has imposed a financial penalty on Standard Chartered Bank (SCB) of £46.55 million for failing to be open and cooperative with the PRA and for failings in its regulatory reporting governance and controls.

Read more
23658

BlueCrest Capital Management Decision Notice Fine of £40.8m

On 22 December 2021, the FCA set out its decision to fine BlueCrest Capital Management (UK) LLP (BCMUK) £40,806,700 for having inadequate arrangements to manage conflicts of interest. It also decided to impose a requirement on BCMUK to pay redress to clients who have suffered loss as a result of its failings.

Read more

On the Horizon

Greenwashing and informational asymmetries: The FCA's direction of travel - read more

The FCA's second consultation on new Consumer Duty - read more

23671

Greenwashing and informational asymmetries: The FCA's direction of travel

What could be more important than working to save the planet that sustains us?

Read more
23673

The FCA's second consultation on new Consumer Duty

On 7 December 2021, the FCA published its second consultation on a new Consumer Duty, with the aim of setting a higher expectation for the standard of care that firms give consumers.

Read more

Previous Issues

Share

How can we help you?
Help

How can we help you?

Subscribe: I'd like to keep in touch

If your enquiry is urgent please call +44 20 3321 7000

Crisis Hotline

I'm a client

I'm looking for advice

Something else