FCA Raids On City Financial Firms Near-Doubled In 2018
Law360, London (April 29, 2019, 7:56 PM BST) -- The number of raids carried out by the Financial Conduct Authority nearly doubled from 2017 to 2018, jumping from 13 to 25, according to data kept by the government watchdog.
That's a high not seen since 2010, when the FCA conducted 36 surprise searches under warrant.
The information was compiled and reviewed by the financial services regulatory consultancy FSCom Ltd. The jump in raids is part of an FCA crackdown on investment frauds, including unregulated investments, the managing director of the Belfast-based agency, Jamie Cooke, told Law360.
"There's been more confidence in the market, which leads to more people taking out...
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