07 January 2014
Business Crime Solicitors Review 2013 Financial Services Enforcement
Our Business Crime Solicitors report that The Financial Times has revealed that 2013 was a record year for the level of fines, arrests and investigations worldwide relating to insider trading.
2013 also saw a significant rise in the fines issued by the UK’s Financial Conduct Authority.
In the UK alone the FCA made 15 arrests for suspected insider dealing, compared to just 4 arrests in 2012. This increase has not just been evident in the UK, but globally there have been significant increases in the number of investigations made by respective regulatory bodies. In the US the number of enforcement investigations issued by the Securities and Exchange Commissions increased to 908, and increase of more than 100 from 2012.
There was also a significant increase in the number of investigations for insider trading in Australia, Hong Kong and Germany, and the number of investigations looks set to continue to rise in 2014 leading to an increased number of arrests and possible prosecutions.
Reflecting this general upward trend in enforcement actions the level of the fines issued by the FCA increased by 52% in 2013 with a total of £472.3m being levied against over 40 firms.
How can Slater and Gordon help you?
We have over 30 years experience of acting in many of the most high profile and complex enforcement matters.
If you are in the financial services sector and are concerned about an actual or potential regulatory issue our Business Crime Solicitors are available 24/7 and are happy to offer a free initial 30 minute consultation.
We have routinely represented senior executives and a range of companies on matters such as:
- Inside dealing
- International banking investigations
- Approved Persons/Controlled Function applications