Investigations on various breaches information – October 2021

(1) How many live single track criminal investigations does the FCA currently have ongoing in relation to breaches of the MLR 2007 only?

(2) How many live single track criminal investigations does the FCA currently have ongoing in relation to breaches of the MLR 2017 only?

(3) How many live single track criminal investigations does the FCA currently have ongoing in relation to breaches which span a single period encompassing both the MLR 2007 AND the MLR 2017?

Please provide figures which count live investigations under one category above only (e.g. a single track criminal investigation into breaches alleged to have occurred in May 2003 should only be counted under (1) above and not (3) above).

(4) How many live dual track criminal/civil investigations does the FCA currently have ongoing in relation to breaches of the MLR 2007 only?

(5) How many live dual track criminal/civil investigations does the FCA currently have ongoing in relation to breaches of the MLR 2017 only?

(6) How many live dual track criminal/civil investigations does the FCA currently have ongoing in relation to breaches which span a single period encompassing both the MLR 2007 AND the MLR 2017?

Please provide figures which count live investigations under one category above only (e.g. a dual track criminal/civil investigation into breaches alleged to have occurred in May 2018 should only be counted under (5) above and not (6) above).

(7) How many single track criminal investigations into breaches of MLR 2007 and/or MLR 2017 has the FCA discontinued since July 2020?

(8) How many dual track criminal/civil investigations into breaches of MLR 2007 and/or MLR 2017 has the FCA discontinued since July 2020?

Please note that figures for discontinued investigations need not be separated by MLR 2007 or MLR 2017.

(9) How many live investigations does the FCA currently have ongoing into a breach of section 330 or 331 of the Proceeds of Crime Act 2002 (POCA)?

(10) How many investigations into a breach of section 330 or 331 of the Proceeds of Crime Act 2002 has the FCA discontinued since July 2020?

(11) Are you able to give any detail relating to the general reasons (i.e. no identifying characteristics) why each of the discontinued investigations (whether under the MLR 2007, MLR 2017 or POCA) ceased, e.g. because a suspect died or because it was considered there was insufficient evidence to proceed?

(12) What is the oldest live investigation of those set out above?

This question is designed to identify the longest period over which you have been investigating any particular breach, e.g. an investigation that was started by the FCA in 2015 which is still ongoing.

(13) What is the oldest breach currently the subject of a live investigation?

This question seeks to understand in which year the earliest breach of the MLR being considered under your current investigations occurred, e.g. you are investigating a firm for alleged breaches which occurred in, say, 2008.

(14) What is the most recent breach currently the subject of a live investigation?

This question seeks to understand in which year the most recent breach of the MLR being considered under your current investigations occurred, e.g. you are investigating a firm for alleged breaches which occurred in, say, 2008.

We will respond to each of the questions asked in turn.

1. 1 investigation
2. None
3. None
4. None
5. 3 investigations
6. 1 investigation
7. 5 investigations
8. 4 investigations
9. None
10. None
11. No enforcement action needed as an alternative FCA outcome was sought (e.g. supervisory action); Insufficient evidence of a breach.
12. April 2017
13. December 2016 – this is the date of the oldest opened case under live investigation. Please note this does not relate to the date of the potential breach/misconduct under investigation.
14. June 2021 – this is the date of the most recently opened case under live investigation. Please note this does not relate to the date of the potential breach/misconduct under investigation.