The FCA has recently committed to carrying out enforcement cases more quickly as it seeks to increase the deterrent impact of its enforcement actions. 

In a recent related speech, the FCA noted that it must tackle the delay between misconduct occurring and penalty being imposed if it is to boost confidence in our markets, and that the longer it takes for outcomes to be determined or justice served the longer it takes for the FCA to send important signals to the markets the FCA oversees about what it considers to be serious misconduct.  Would publicity really speed up outcomes, or deliver justice? In its press release the FCA noted that “Greater transparency will also drive greater accountability for us as an enforcement agency”.  

Surely the FCA was not suggesting that it had been operating less than diligently on its investigations because it had not been subject to direct public scrutiny? 

Surely, more timely signals to markets could be delivered through existing means of communication, such as via Dear CEO letters and Market Watch newsletters which are carefully scrutinized by industry?

Want to read more? Read the full article: "How would you like your justice served?...well done (outcome following full due process), medium, or rare (trial by media)"