This Overview is a guide to the LexisNexis Financial Services subtopic Financial Services criminal offences, investigations and prosecutions, and includes links to appropriate materials. This sub-topic considers the Financial Conduct Authority (FCA)’s powers in respect of criminal offences and the FCA’s investigatory process into alleged criminal wrongdoing. It also considers the role of the Serious Fraud Office (SFO) in investigating financial crime in the financial services sector and provides detail on deferred prosecution agreements (DPAs). The news tab in this sub-topic provides a history of FCA criminal prosecutions and SFO prosecutions relevant to financial services firms.
Practical guidance on FCA enforcement involving non-criminal matters (including financial crime compliance breaches) can be found in: FCA and PRA investigations, enforcement and discipline—overview.
The FCA has powers to prosecute a number of criminal offences, including contravening the general prohibition, and offences related to market abuse and money laundering failings. The FCA is increasingly focused on its criminal powers, particularly since Steve Smart, formerly of the National Crime Agency became the FCA’s joint executive director of enforcement and market oversight. In June 2024, Smart stated:
Financial...
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A round-up of financial services developments, including (among other things) FSB reviews public sector backstop funding mechanisms....
A round-up of financial services developments, including (among other things) ESMA sets out supervisory expectations on unauthorised stablecoins....
The Court of Appeal has overturned the convictions of Jonathan Mathew, Jay Merchant, Alex Pabon, Philippe Moryoussef, Colin Bermingham and Christian...
This week's edition of Financial Services weekly highlights includes: FCA consults on preparations for new transaction reporting regime; ESMA...
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