FCA renews approach to enforcement disclosures after failures on Julius Baer case

Following Upper Tribunal criticism

The Financial Conduct Authority has revised its approach to disclosure processes in regulatory enforcement cases after receiving criticism from London’s Upper Tribunal.

In a statement, the UK's financial watchdog said it had completed a review of its disclosure process and introduced various changes to improve quality and minimise the risk of mistakenly failing to disclose a document.  FCA fines Julius Baer £18m over 'corrupt' relationship with Russian oil conglomerate This involves providing greater training and support for case teams, and taking a broader approach to disclosure, which the regulator said "will mean our review of documents is not focused only on identifying potentially undermining material". "Under our new broader approach, we wil...