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Legal Update

Enforcement Process Shake Up: UK Regulators Announce Significant Changes

17 February 2017
Mayer Brown Legal Update
The Financial Conduct Authority (the "FCA") and the Prudential Regulation Authority (the "PRA") published the changes they will make to their enforcement decision-making processes on 1 February 2017 in policy statements FCA PS17/1 and PRA PS2/17 (the "PS"). These changes will have significant ramifications for all firms that may be subject to FCA and/or PRA investigation. The PS also signals a growing trend towards the regulators being more open about how they will approach enforcement action, which can only be of help to firms.
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