The Financial Conduct Authority (FCA) has updated the criteria and outlined the process it uses when deciding whether to refer a firm or individual to its enforcement division for a formal investigation. Where misconduct is proved, an enforcement investigation can lead to fines, bans and suspensions, but this is only one of a range of tools available to the FCA. The process the FCA has published clarifies how the regulator will decide which tool will most likely fulfil its objectives in each case. Georgina Philippou, acting director of enforcement at the FCA, said: “Enforcement is not the only tool at our disposal where we see misconduct, nor is it the most appropriate one to use in every case.....Read more Here