Nick is speaking this morning at the FSA Enforcement Conference at the Brewery in London.
He is part of a panel examining the effectiveness and impact of the enforcement actions of the regulator.
Part of Nick’s opening speech will be to explain how we have a seven step process (available if you would like to see it) for striving to ensure that we are never subject to regulatory enforcement action.
Step six of the process is to examine the final notices published by the FSA when an authorised firm is censured, fined or banned by them. We then at our monthly Best Practice meeting discuss if we are doing something, or indeed not doing something, that might cause us to be subject to a similar outcome.
Now we would never be so bold as to believe that we are perfect (as hard as we strive) but being aware of the interaction between the rules and guidance provided by the regulator and the failings of those firms and individuals who become subject to sanctions is an important step in hopefully ensuring that we don’t get it badly wrong.
