UK FCA updated statement of policy on statutory investigations into regulatory failure

The UK Financial Conduct Authority (FCA) has published an updated statement of policy regarding statutory investigations into regulatory failure under the Financial Services Act 2012. The statement of policy sets out the FCA';s approach and process for deciding whether to conduct an investigation into possible regulatory failure and give a report of the findings and recommendations to HM Treasury (HMT) for publication. Following its review of the statement of policy to ensure it remains fit for purpose, the FCA has introduced one substantive change: revising the monetary thresholds for assessing the "significance" of consumer detriment in line with inflation. The FCA will continue to review and adjust these thresholds periodically.

Return to main website.