Page 57 - 期货和衍生品行业监管动态（2024年12月刊）

期货和衍生品行业监管动态

1. The potential negative impact on a firm would be explicitly considered as

part of a public interest test - previously it wasn’t included as one of the

factors.

2. Firms would be given 10 days’ notice ahead of any announcement being

made, rather than the 1 day originally consulted on. During this period,

firms could make representations. If the FCA decides to announce, firms

would then have an additional 48 hours’ notice before it is published.

3. The potential for an announcement to seriously disrupt public confidence in

the financial system or the market has also been included as a new factor in

the public interest test.

4. The FCA has clarified it won’t announce investigations which began before

any changes to the policy come into effect. (Although it may reactively

confirm investigations which are already in the public domain, where this is

in the public interest).

It is anticipated that if the proposals were to come into effect, they would only

lead to additional proactive announcements of investigations into regulated firms in a

very small number of cases.

Steve Smart, joint executive director of enforcement and market oversight, said:

‘We have made good progress in increasing the focus and pace of our

enforcement work - so that we can prioritise the investigations most likely to drive

meaningful deterrence across industry and deliver more timely outcomes. We want to

hear further views on whether some increased transparency could work in practice.’

Therese Chambers, joint executive director of enforcement and market oversight,

said:

‘We have heard the strength of feedback to our original proposals, and we are

making changes as a result. We hope the greater detail published today supports the

43