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Speech by Mark Steward, Director of Enforcement and Market Oversight at the FCA, delivered at the AFME European Compliance and Legal Conference 2017
https://www.fca.org.uk/news/speeches/better-view
There has been an approximate 75% increase in the number of FCA investigations over the past year, as a result of three factors:
more investigations into capital market disclosure issues
the extension in scope of the reporting regime for firms, brought about by MAR, which has given the FCA a richer and more varied market picture, leading to more cases being selected for investigation
the FCA’s change in approach when deciding whether to open an investigation
MiFID II, and improvements in the FCA’s capacity to collect and aggregate order book data from all venues, will allow the FCA to understand the markets it supervises with much greater precision, detect serious misconduct earlier, and improve its policy assessments.
The FCA will act proportionately, when deciding whether to take enforcement action against firms covered by MiFID II, which have not transitioned in time for 3 January 2018.
https://www.fca.org.uk/news/speeches/better-view
There has been an approximate 75% increase in the number of FCA investigations over the past year, as a result of three factors:
more investigations into capital market disclosure issues
the extension in scope of the reporting regime for firms, brought about by MAR, which has given the FCA a richer and more varied market picture, leading to more cases being selected for investigation
the FCA’s change in approach when deciding whether to open an investigation
MiFID II, and improvements in the FCA’s capacity to collect and aggregate order book data from all venues, will allow the FCA to understand the markets it supervises with much greater precision, detect serious misconduct earlier, and improve its policy assessments.
The FCA will act proportionately, when deciding whether to take enforcement action against firms covered by MiFID II, which have not transitioned in time for 3 January 2018.
