FCA speech on approach to enforcement

Therese Chambers, joint executive director of enforcement and market oversight highlighted spoke on how the FCA is adapting its approach to enforcement to meet evolving threats and maximise the deterrent effect

Highlights include:

• Reducing and preventing serious harm from financial crime is a focus of the FCA’s current strategy and will remain a significant pillar in its next, due in 2025;
• The FCA closed 60 operations in the financial year 2023/24, compared to 38 in the previous year, with over 25% of these less than 2 years old; and
• More than 45 people are currently facing FCA criminal proceedings, covering offences from fraud to forgery, insider dealing to money laundering. 

Firms can review the FCA speech to gain insights into the objectives and expectations of the regulator, which may have operational implications.