FCA Enforcement heads comment on their "evolving approach"

In February 2024 the Financial Conduct Authority published a new enforcement strategy, including controversial plans to name firms under investigation more frequently and earlier. (The proposals were softened after vigorous lobbying from the regulated sector and, with the consultation closing this month, a final decision is due soon). As joint executive directors of Enforcement and Market Oversight Therese Chambers and Steve Smart approach the second anniversary of their time in office, Neasa MacErlean asks about other aspects of the strategy, [1] which includes greater use of skilled persons reports, fewer cases and faster outcomes ...

Therese Chambers



In 2024 you closed at least two investigations ( Starling and Volkswagen Financial Services) in a third of what was the previous average time (13-14 months, as against 42 months in 2023/24). What is helping you to reduce the timeline ?