Financial Crime and Enforcement

Latest Reports

  • City, London

    Top report

    FCA enforcement against PDMR

    24.12.2019

    In the first such action to be made fully public, the FCA has fined a managing director of a listed company £45,000 for failing to notify share trades in the listed company as required under the Market Abuse Regulation (MAR). The case is notable, not just for being the first ...

  • man typing on laptop keyboard

    Anti-money laundering, terrorist financing, and know your client obligations FCA-authorised firms are required, pursuant to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on Payer) Regulations 2017 (“MLRs”), to implement anti-money laundering (“AML”) measures.  

  • City, London

    The importance the financial regulators place on effective oversight and management of outsourcing arrangements has been highlighted by both the PRA and the FCA in the fines they have imposed totalling £1,887,252 on R.Raphael & Sons plc (the “Bank”) for failing to manage its outsourcing arrangements properly. Effective management of ...

  • Frankfurt, Germany

    The German Financial Supervisory Authority (BaFin) recently published revised guidelines for breaches of the German Securities Trading Act (WpHG) (WpHG Administrative Fine Guidelines II (WpHG-Bußgeldleitlinien II)). They had been last updated in 2013. According to the new WpHG Administrative Fine Guidelines, BaFin now can and will punish companies more severely ...

  • Canary Wharf, London

    This article first appeared on Practical Law and is published with the permission of the publishers. What a difference a year makes. A look back at FCA enforcement activity in 2016 reveals a dramatic drop both in the number and the size of financial penalties being imposed by the FCA. ...

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