Author: Azizur Rahman 9 April 2020
In its business plan for 2020, the Financial Conduct Authority (FCA) has emphasised that it will not be introducing an amnesty on enforcement action during the coronavirus crisis.
While the FCA has made it clear it will keep taking action against serious misconduct, particularly where there is a high risk of money laundering, some observers have predicted a slowing down of the agency’s investigations. While online enforcement interviews are a possibility, the FCA may face a shortage of resources at a time when the pandemic is offering new opportunities to those looking to commit financial crimes.
The FCA has told firms that it is not lowering its expectations of them. It has reminded them that they have to behave in a way that puts consumers’ interests first.
Rahman Ravelli was asked it's thoughts on this by Thomson Reuters for an article.
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Aziz Rahman is Senior Partner at Rahman Ravelli and its founder. His ability to coordinate national, international and multi-agency defences has led to success in some of the most significant corporate crime cases of this century and top rankings in international legal guides. He is recognised worldwide as one of the most capable legal experts regarding top-level, high-value commercial and financial disputes.