Read CP24/2 (PDF)

Why we are consulting

We want to change how we publicise our enforcement investigations to increase transparency about our enforcement work and its deterrent effect and to disseminate best practice. Following review, we also propose changes to our Enforcement Guide to reduce duplication and make information about our processes more accessible.

Who this is for

This CP is likely to be of interest to:

• firms that fall within our regulatory oversight and who may be subject to an enforcement investigation, whether authorised or registered with us or who will be carrying out designated activities, as well as individuals working in these firms
• consumer and investor groups and individual consumers and investors
• industry groups, trade bodies, experts and commentators, and
• other regulatory bodies

Next steps

This consultation has now closed. We will publish feedback on responses and issue a policy statement once we have reviewed your comments.

Background

There can inevitably be some time between when we identify misconduct and harm and announce the action we are taking to tackle it. We currently publish very little information about the investigations we have opened before taking action or which do not lead to action. This can lead to public concern about whether we are taking appropriate action and reduce the educational and deterrent effect of our enforcement.

We also reviewed our Enforcement Guide, which has been regularly updated and amended as our remit has grown. We have removed redundant material and propose to move information that would be more accessible if available on our website.