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FCA investigations rise 20% in a year

The number of investigations carried out by the FCA increased by 20 per cent last year, with the number of investigations ending with no public outcome doubling over the same period.

Data compiled by law firm Pinsent Masons, published by the Financial Times, shows that the number of inquiries opened by the regulator grew to 109 in 2014, from 90 the previous year.

The number of company investigations that concluded in secret has gone from seven to 14 last year.

Pinsent Masons senior associate Michael Ruck says: “The increased number of investigations into companies being closed without a public outcome may raise eyebrows, although this needs to be seen within the context of a rise in the number of such investigations launched and the increasing sophistication of compliance functions within financial institutions.”

There were 60 inquiries opened in 2014 into individual employees, compared to 54 the previous year.

The FCA is still trailing the number of investigations carried out by its predecessor the FSA, which opened 134 inquiries in 2012 and 87 investigations into individuals.

Ruck adds: “This is particularly striking given the FCA’s rhetoric around taking action against those individuals responsible for misconduct, suggesting that the focus is now more targeted, focusing on a smaller group of senior individ­uals in addition to organisations.”


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There are 2 comments at the moment, we would love to hear your opinion too.

  1. There is a saying my mum always, told me;

    “If you cant say anything nice don’t say anything at all” (maybe I need to bare this in mind when responding to the FCA or its minions)

    However this does cut both ways, or three ways if you include some journalists ?

    My point is; we as an industry are forever defending ourselves, and here we go again “FCA investigations rise by 20% in a year” (people tend not to read past the head line) indicating we are getting worse and worse ?

    The albatross that is the FCA around my neck stinks more everyday, and the stone in my shoe that is the journalist has broken the skin !! and no-one wants to cuddle a limping man with death round his neck !!!

  2. DH is right. The actual headline should be ‘The FCA conducts 50% less investigations than it did in 2012’. Things are getting better and we need to be shouting it to the public. Let’s face it, if things are getting worse the FCA may be required to explain why they wasted £2bn of other peoples money on the RDR.

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