FCA Ups Ban Orders in 2018 As Pressure on Senior Staff Grows

[kreslik.news]

Heavier penalties on financial services operators have caused a 30 percent increase in the number of executives’ ban orders meted out in 2018 by the UK’s financial watchdog.

The Financial Conduct Authority’s total enforcement actions against individuals working in the financial services industry stand at 23 during Sep 2017-Sep 2018 period. This is compared with 18 bans levied in the previous year, according to London-based law firm RPC.

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The figure includes those who have been banned, fully or partially, from performing any influence or senior management function, on the basis of a “fundamental ... (read more)