BusinessCompany NewsWatchdog works to clear investigations backlog

Watchdog works to clear investigations backlog

The Financial Services Authority has been working hard to clear its backlog of investigations into alleged rule breaking in the past year, according to its annual report.

Link: FSA panel warns of red tape threat

In the annual FSA report published this week the financial watchdog stated it has brought down its outstanding cases to 193 on 1 April, down from 315 for the same time last year. During the last year it opened a further 138 cases but managed to handle and close 260 cases.

The total amount of penalties it levied in 2002/03 amounted to just over £10m.

‘Firms need to understand that failure to meet the required standards is particularly serious, and that where necessary, we will take enforcement action in the interest of consumer protection and market confidence,’ the FSA stated.

Related Articles

M&S business rate liabilities based on £570m rateable value

Company News M&S business rate liabilities based on £570m rateable value

4m Emma Smith, Managing Editor
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

8m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

1y Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

1y Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

1y Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

1y Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

1y Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

1y Emma Smith, Managing Editor