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The UK HM Treasury published a final report on the fairness, transparency, speed and efficiency of the institutional arrangements and processes for enforcement decision-making...
On December 18, 2014, the UK HM Treasury published a final
report on the fairness, transparency, speed and efficiency of the
institutional arrangements and processes for enforcement
decision-making at the Financial Conduct Authority
("FCA") and Prudential Regulation Authority
("PRA"). The review's recommendations include (i) a
new, independent decision-making committee for the PRA; (ii) a new,
expedited procedure to access the Upper Tribunal; (iii) regular
independent reviews of the FCA and PRA settlement processes; (iv)
measures to encourage investigated parties to make early admissions
so that cases are resolved more quickly; and (iv) publication of
more information by the FCA and PRA about the criteria for starting
investigations.
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