Information on open FCA enforcement investigations - December 2020

Request 1:

1. Total number of open FCA enforcement investigations.
2. The number of criminal, civil, regulatory and dual track investigations currently open (broken down by each category).
3. Information on investigations the FCA has open in relation to firms, broken down by number according to whether the investigation relates to: (a) misleading statements; (b) listing requirements; (c) market manipulation; (d) insider dealing; (e) wholesale conduct; (f) financial promotions; (g) culture and governance; (h) mis-selling; (i) financial crime; (j) client money / client assets; (k) retail conduct; (l) non-financial misconduct; and (m) other (please provide details).
4. Number of current FCA enforcement actions relating to MiFID II transaction reporting failings.
5. Number of current FCA enforcement actions relating to the MIFID II rules on payment for research (transposed at section 2.3B of the FCA Conduct of Business sourcebook). Broadly, these are the rules that require that firms either pay for investment research out of their own resources, or otherwise maintain a research payment account (and associated requirements).
6. Total number of open investigations against individuals, broken down by number according to whether the investigation relates to: (a) misleading statements; (b) listing requirements; (c) market manipulation; (d) insider dealing; (e) wholesale conduct; (f) financial promotions; (g) culture and governance; (h) mis-selling; (i) financial crime; (j) client money / client assets; (k) retail conduct; (l) non-financial misconduct; (m) senior manager conduct rules; (n) individual conduct rules; (o) other (please provide details).
7. Total number of Warning Notices issued in: (a) H1 2020; and (b) Q3 2020.
8. Total number of Skilled Persons appointed in 2020 (to date).
9. Number of open investigations that relate to Senior Managers: (a) opened prior to 9 December 2019; and (b) opened on or after 9 December 2019.
10. Number of open investigations that relate to Senior Managers broken down by: (a) misleading statements; (b) listing requirements; (c) market manipulation; (d) insider dealing; (e) wholesale conduct; (f) financial promotions; (g) culture and governance; (h) mis-selling; (i) financial crime; (j) client money / client assets; (k) retail conduct; (l) non-financial misconduct; (m) senior manager conduct rules; (n) individual conduct rules; and (o) other (please provide details).
11. Number of open investigations that relate to Certified Persons: (a) opened prior to 9 December 2019; and (b) opened on or after 9 December 2019.
12. Number of open investigations that relate Certified Persons broken down by: (a) misleading statements; (b) listing requirements; (c) market manipulation; (d) insider dealing; (e) wholesale conduct; (f) financial promotions; (g) culture and governance; (h) mis-selling; (i) financial crime; (j) client money / client assets; (k) retail conduct; (l) non-financial misconduct; (m) individual conduct rules; and (n) other (please provide details).
13. Number of open investigations that relate to Conduct Rules Staff: (a) opened prior to 9 December 2019; and (b) opened on or after 9 December 2019.
14. Number of open investigations that relate Conduct Rules staff broken down by: (a) misleading statements; (b) listing requirements; (c) market manipulation; (d) insider dealing; (e) wholesale conduct; (f) financial promotions; (g) culture and governance; (h) mis-selling; (i) financial crime; (j) client money / client assets; (k) retail conduct; (l) non-financial misconduct; (m) individual conduct rules; and (n) other (please provide details).
15. Number of open investigations that relate to Approved Persons broken down by: (a) misleading statements; (b) listing requirements; (c) market manipulation; (d) insider dealing; (e) wholesale conduct; (f) financial promotions; (g) culture and governance; (h) mis-selling; (i) financial crime; (j) client money / client assets; (k) retail conduct; (l) non-financial misconduct; and (m) other (please provide details).
16. Overall number of enforcement investigations opened and closed so far in 2020.

Request 2:

1. Number of open FCA enforcement investigations relating to: (i) dual-regulated firms; and (ii) solo-regulated firms.
2. Number of open enforcement investigations relating to: (i) limited-scope firms; (ii) core firms; and (iii) enhanced firms (in each case as defined under the Senior Managers and Certification Regime).
3. The number of criminal, civil, regulatory and dual track investigations currently open (broken down by each category) relating to (i) dual-regulated firms; and (ii) solo-regulated firms.
4. The number of criminal, civil, regulatory and dual track investigations currently open (broken down by each category) relating to (i) limited-scope firms; (ii) core firms; and (iii) enhanced firms (in each case as defined under the Senior Managers and Certification Regime).
5. Information on investigations the FCA has open in relation to (i) dual-regulated firms; and (ii) solo-regulated firms, broken down by number according to whether the investigation relates to: (a) misleading statements; (b) listing requirements; (c) market manipulation; (d) insider dealing; (e) wholesale conduct; (f) financial promotions; (g) culture and governance; (h) mis-selling; (i) financial crime; (j) client money / client assets; (k) retail conduct; and (l) other (please provide details).
6. Information on investigations the FCA has open in relation to (i) limited-scope firms; (ii) core firms; and (iii) enhanced firms, broken down by number according to whether the investigation relates to: (a) misleading statements; (b) listing requirements; (c) market manipulation; (d) insider dealing; (e) wholesale conduct; (f) financial promotions; (g) culture and governance; (h) mis-selling; (i) financial crime; (j) client money / client assets; (k) retail conduct; and (l) other (please provide details).
7. Number of Skilled Persons appointed in 2020 (to date) in relation to (i) dual-regulated firms; (ii) solo-regulated firms; (iii) limited -scope firms (for SMCR purposes); (iii) core firms (for SMCR purposes); and (iv) enhanced firms (for SMCR purposes).
8. Number of open investigations that relate to Senior Managers of: (a) dual-regulated firms; (b) solo-regulated firms; (c) limited-scope firms (for SMCR purposes); (d) core firms (for SMCR purposes); and (e) enhanced firms (for SMCR purposes).
9. Number of open investigations that relate to Senior Managers broken down by the following Senior Management Functions: (a) SMF 1; (b) SMF 3; (c) SMF 27; (d) SMF 16; and (e) SMF 17.
10. Number of open investigations that relate to Certified Persons of: (i) limited-scope firms (for SMCR purposes); (ii) core firms (for SMCR purposes); and (iii) enhanced firms (for SMCR purposes).
11. Number of open investigations that relate to Conduct Rules Staff of: (i) limited-scope firms (for SMCR purposes); (ii) core firms (for SMCR purposes); and (iii) enhanced firms (for SMCR purposes).
12. Number of enforcement investigations opened and closed so far in 2020 relating to (i) dual-regulated firms; (ii) solo-regulated firms; (iii) limited scope firms (for SMCR purposes); (iv) core firms (for SMCR purposes); and (v) enhanced firms (for SMCR purposes).

Refer to supporting document below.