Civil recovery orders – a powerful new tool for the FCA

The Criminal Finances Bill has proposed a game-changing enforcement mechanism for the Financial Conduct Authority: the capacity to confiscate unlawfully-obtained assets without a criminal conviction – indeed, even potentially after an acquittal. This will facilitate a more targeted and strategic approach from the regulator, explains Claire Cross.

Claire Cross is Of Counsel at law firm Corker Binning, where she may be contacted on cc@corkerbinning.com.

While Chapter One of the Criminal Finances Bill (CFB) has been attracting the lion’s share of attention, one of the most interesting changes for those who interact with the FCA’s Enforcement and Market Oversight Division has been largely overlooked.