In Regulatory Wrap for the week to July 18, Aarti Agarwal discusses how the FCA has ramped up efforts to tackle market abuse and protect integrity.
In this week’s Regulatory Wrap, we dissect increased enforcement action from the Financial Conduct Authority (FCA), which has seen several individuals sentenced to prison for their part in financial crimes.
1. A research analyst and his sister accessed confidential email communications to organize insider trading and money laundering schemes, through which they generated nearly £1 million in profit
2. Following prosecution for these illegal activities, the siblings have been sentenced to a joint 11 years of imprisonment
3. The FCA has also charged two individuals for orchestrating a crypto scheme where fraudsters cold-called victims and sold fake investments, which saw 65 investors defrauded of over £1.5 million
4. The FCA is taking a three “p’s” approach to combat market abuse – it’s being predictable in its decision making, taking proportionate actions to meet circumstances, and is purposeful in addressing significant risks
5. As the FCA embraces a new regulatory strategy, it isn’t only pursuing wrongdoing, but taking purposeful, focused action to protect market integrity
This episode is brought to you by our Content and Brand Coordinator, Aarti Agarwal.
Regulators worldwide are taking a strong stance on financial crime, and to stay compliant, firms must take steps to implement technology that can detect, mitigate, and deter possible risk.
