Category Archives: FCA investigations

Claire Cross comments on FCA enforcement investigations in Law360

FCA Ramp-Up Risks Cooling City Investment by Financial Firms The UK Financial Conduct Authority’s (FCA) aggressive pursuit of enforcement investigations amid Brexit negotiations has unsettled City talent and may even deter investment, top white collar attorneys warn, risking further damage to London’s future as a financial centre. The FCA’s head of enforcement, Mark Steward, told Law360 […]

THE FCA: Less Ho Ho Ho, More CRO

Whilst Chapter One of the Criminal Finances Bill (CFB) has been attracting the lion’s share of attention, one of the most interesting changes for those who interact with the FCA’s Enforcement and Market Oversight Division has been largely overlooked. Clause 17 of the CFB will provide the FCA with a new weapon in its enforcement […]

Peter Binning comments on former Schroders trader sentence in The Times

A former City fund manager cried yesterday as he was sentenced to two years in prison for insider trading in nine companies over nearly a decade. Damian Clarke, 40, made more than £150,000 between 2003 and 2013 by using his job as an assistant fund manager at Schroders Investment Management to trade on inside knowledge […]

Andrew Smith comments on the Investigatory Powers Bill in Global Investigations Review

Lawyers have accused the Home Office of ignoring serious concerns that the Investigatory Power’s Bill gives authorities such as the SFO and FCA unprecedented access to legally privileged information during investigations. On 1 March, the UK’s Home Office introduced the revised Investigatory Powers Bill, nicknamed the Snooper’s Charter, to Parliament. … The bill gives authorities, […]

FCA v Achilles Macris: Recent settlement places spotlight back on the rights of individuals

On 9 February 2016 the FCA (previously the FSA) published its Final Notice in settlement of its investigation of Achilles Macris, a former senior manager employed by JP Morgan Chase. Mr Macris agreed to pay a fine of £792,000 in respect of his breach of Statement of Principle 4. This requires an approved person to […]

Kim Potts article re FCA v Achilles Macris published in FTSE Global Markets and Compliance Monitor

FCA v Achilles Macris: Recent settlement places spotlight back on the rights of individuals On 9 February 2016 the FCA (previously the FSA) published its Final Notice in settlement of its investigation of Achilles Macris, a former senior manager employed by JP Morgan Chase. Mr Macris agreed to pay a fine of £792,000 in respect […]

Andrew Smith and Danielle Reece-Greenhalgh article re corporate criminal liability published on Traidcraft blog

The changing face of corporate criminal liability In this guest blog Andrew Smith and Danielle Reece-Greenhalgh of law firm Corker Binning discuss current trends in corporate criminal liability. English criminal law has long recognised that companies can be criminally liable for strict liability offences (e.g. breaches of trade sanctions, where the company itself commits the […]

Christopher Ashton v FCA – further developments for individuals wishing to challenge prejudicial implications in FCA notices

The Court of Appeal judgment in Achilles Macris on 19 May 2015[1] opened the floodgates to individuals who could claim to be prejudiced by FCA warning and decision notices, and who therefore must be permitted to submit representations challenging their content and conclusions. A decision of the Upper Tribunal (Tax and Chancery Chamber) on Thursday […]