FCA Business Plan 2017: Reviews, Thematic Reviews and All The Rest of It

By The Enforcd TeamThe Enforcd Team
FCA Business Plan 2017

It’s not an original observation, but the FCA is at heart a publishing house.

Work on annual set-pieces like the FCA business plan (currently in its 2017/2018 run) begins months before publication, with Associates across all parts of the FCA writing summaries of their work, and sending it up the line for review. The strategists and macro-economists submit big chunks. The whole thing is then proofed for plain English, and typeset in-house. Continue reading “FCA Business Plan 2017: Reviews, Thematic Reviews and All The Rest of It”

Libor: Was the Bank of England involved?

By The Enforcd TeamThe Enforcd Team

The BBC’s Panorama has a recording of a conversation between two Barclays employees, one a LIBOR submitter. We don’t know in which manner the recording was time stamped, but it is reported to have taken place on 29 October 2008, the same day as a high profile telephone conversation between Bob Diamond, (then running Barclays Capital), and Paul Tucker (most recently a deputy governor of the Bank of England). Bob Diamond wrote a note following the unrecorded conversation, (the Tucker note), which was the subject of persistent questioning when Diamond appeared before the Treasury Select Committee (TSC) in 2012. Continue reading “Libor: Was the Bank of England involved?”

Conduct Risk: What It Is and Why It Matters

By The Enforcd TeamThe Enforcd Team
Conduct Risk

‘The  lessons of the last few years illustrate clearly that firms need to take proactive steps to improve conduct. Without a firm foundation in identifying the conduct risks inherent in your businesses, it will be hard to manage conduct, let alone show us and others that it is being managed. We know that most firms now understand the value in getting it right and not simply the cost of getting it wrong, and the benefit of good conduct in terms of building customer trust and analyst confidence. However, there is a long way to go, and it will not happen by regulatory osmosis. Firms and individuals need to take responsibility for their own actions.’

Tracy McDermott,  acting CEO of the FCA,  July 2015, Wholesale Conduct Risk Continue reading “Conduct Risk: What It Is and Why It Matters”