FCA improves enforcement disclosure processes

The FCA has completed its review of its disclosure processes in enforcement cases following a recommendation from the Upper Tribunal.  The FCA is required to disclose all documents it relies on to build its case and any material that might undermine its decision to take action. Following its review, it is now taking a broader approach to disclosure, so that it will disclose all material that is relevant, whether potentially supportive or undermining, unless the disclosure is disproportionate, not in the public interest or where it is otherwise inappropriate to disclose.

It is also enhancing its staff training, clarifying the roles of relevant managers and staff and giving greater emphasis to the importance of disclosure in measuring and rewarding staff performance.