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Homepage > News > Business > UK updates enforcement guide for heightened transparency The United Kingdom Financial Conduct Authority (FCA) published the final revisions to its Enforcement Guide on Tuesday after a consultation on proposed measures to streamline the guide and increase transparency. The updated enforcement guide’s main highlight is that the FCA has formally upheld the existing “exceptional circumstances” test for announcing investigations into regulated and listed firms while adding three new conditions under which investigations will be announced. Under the existing “exceptional circumstances” test, the FCA considers a public announcement about an investigation desirable if it will maintain public confidence in the financial system or the market, protect consumers or investors, prevent widespread malpractice, help the investigation itself, for example, by bringing forward witnesses, or maintain the smooth operation of the market. In its final update, published on June 3, the FCA identified three additional situations, or ‘circumstances,’ where “there was broad support for increased transparency”: The first was where, in an investigation of suspected unauthorized financial services or offenses relating to unregulated activity, an announcement would help warn consumers and/or aid in the investigation; The second relates to cases where the investigation has been disclosed publicly by the subject or an affiliated entity, regulatory body, government, or public body; The final new situation relates to “anonymized announcements,” which do not name or identify the subject of the investigation, which could help educate the public on misconduct being investigated by the FCA. According to the regulator, this updated guide will help it achieve “greater transparency” in its enforcement investigations and provide firms and consumers with a more user-friendly document. “We will continue to improve the pace and focus of our investigations, increasing the impact of our work for the benefit of consumers and markets, and therefore the wider…

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Filed under: News - @ June 6, 2025 11:29 am