FCA vs the Tribunal?

Ongoing challenges at the Financial Conduct Authority with staffing/resources, investigation processes, disclosure issues and communications, boiled over in 2023 - with strong words being fired both ways between the Upper Tribunal and regulator. Neasa MacErlean reports on the clashes, as well as learnings for firms and individuals who could face investigation.

Firms and individuals under investigation by the FCA could benefit from familiarising themselves with a string of controversial appeals on the regulator's decisions to the Upper Tribunal. So bizarre has been the Financial Conduct Authority's own conduct in these cases that 2023 could come to be regarded as its nadir. If so, this year will be the turning point in which it starts salvaging its reputation and reorganising its enforcement systems.