UK’s Financial Conduct Authority and Prudential Regulation Authority Announce Changes to Enforcement Processes
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- The UK’s financial regulators (the FCA and the PRA) are implementing reforms to their guidance to improve the transparency, fairness and speed of their enforcement processes.
- Many of the changes simply codify existing good practices by the regulators’ case teams during investigations.
- A new process will be introduced for firms and individuals to resolve cases more efficiently where only some of the issues are in dispute.