• The Enforcement Regime of the UK Financial Services Authority -- Who's Next?
  • December 8, 2011 | Authors: James Barabas; Jeffery Roberts; Selina S. Sagayam
  • Law Firm: Gibson, Dunn & Crutcher LLP - Los Angeles Office
  • Since overhauling its financial penalty framework in March 2010, the UK Financial Services Authority (FSA) has gone a long way to dispel views that it has a lacklustre approach towards levying market abuse fines. However, harsher fines are just one feature of its tougher enforcement regime. Recent cases show that the FSA has generally stepped up its enforcement activity, improving the range of resources and evidence available to successfully investigate market abuse. This will particularly be the case due to the introduction of the Zen monitoring system and requirement for firms to tap employee mobile phones.