Addleshaw Goddard

UK 200 2013 position: 23

Journey to the UK Financial Conduct Authority — what should we expect?

On 15 October 2012 the Financial Services Authority (FSA) published a document entitled ‘Journey to the FCA’. In the foreword to the document John Griffith-Jones, FCA Chairman-Designate, comments that it sets out how the Financial Conduct Authority (FCA) will approach its regulatory objectives and how it intends to ’ensure firms put consumers at the heart of their business’. The document forms a consultation and comments are invited until 14 December 2012. The document produced is interactive so comments can be made directly online. Feedback will be summarised and communicated back in early 2013. Although this document provides clarity on the current plans for the FCA, other more detailed consultative documents are also being produced and must be considered to fully understand the future proposed role of the FCA. Currently CP12/24 on Regulatory Reform: PRA and FCA regimes relating to aspects of authorisation and supervision and CP12/26 on Regulatory Reform: the PRA and FCA regimes for approved persons are live and open for comment. 

The document gives detail on new FCA powers; the ‘clear and straightforward’ authorisation process; the plan for structured supervision work; the agenda of credible deterrence within the enforcement approach; focus on the new Policy, Risk and Research Division; maintaining effective relationships with stakeholders such as the PRA and Bank of England; and the structure for accountability and measuring success…

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Analysis from The Lawyer

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    Another Mancunian merger for Slater & Gordon?

    Could Slater & Gordon achieve its stated aim of becoming a top consumer brand by acquiring Pannone?

  • Addleshaws

    Number crunching: Addleshaw Goddard

    The past five years have not been easy for Addleshaw Goddard. The firm’s revenue fell 7 per cent from £173.1m to £161.9m between 2008/09 and 2010/11 and despite finances looking up in 2011/12, when Addleshaws reported a 30 per cent increase in net profit, it has shown no notable compound growth in turnover since 2007/08.

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Overview

Milton Gate
60 Chiswell Street
London
EC1Y 4AG
UK
http://www.addleshawgoddard.com

Turnover (£m): 166.50
No. of Lawyers: 592

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