FCA ‘Assertive Regulation’ - What You Need to Know

Introduction

The FCA has undergone a material change in the way it supervises.

Above all, the FCA is pursuing earlier and stricter intervention into firms’ operations.

This is most acutely felt in the FCA’s employment of VREQs, which have increased by 486% over the past four years, and in s.166 skilled person reviews, which have increased by 124% in the last three years.

These early intervention tools have also become a gateway to enforcement, with 59% of all enforcement actions by the FCA and PRA since 2023, occurring in the wake of a skilled person review.

Firms must be aware of this changing regulatory environment: what is expected of them, and what are the potential consequences of poor engagement or regulatory breach.

This new virtual classroom seminar is suitable for MLROs and compliance and investigations functions of regulated firms.

What You Will Learn

This live and interactive course will cover the following:

• How assertive regulation differs from traditional Supervision and Enforcement
• How to prepare for assertive regulation
• How to respond to assertive regulation, and how to respond to the following regulatory tools:
• VREQs
• OIREQs
• Attestation requests
• Skilled person reviews
• Data requests
• The future of ‘name and shame’

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.