In July the FSA published plans to create a consistent and more transparent framework for calculating financial penalties which could mean some fines treble in size.
The new plans reflect the FSA's determination to change behaviour and address concerns that firms are repeatedly failing to improve standards (e.g. in relation to mis-selling to consumers and market misconduct). They will also ensure that fines better reflect the scale of the wrongdoing and that any profits made from the breaches are clawed back.
Under the new proposals, fines will be linked more closely to income. They will be based on up to 20% of the company's income from the product or business area linked to the breach over the relevant period and up to 40% of an individual's salary and benefits (including bonuses) from their job relating to the breach in non-market abuse cases. There will be a minimum starting point of £100,000 for individuals in market abuse cases.
The consultation is due to close on 21 October 2009 and any new policies are likely to apply to breaches committed after February 2010.
This well established and highly topical conference brings together a speaker faculty of exceptional quality to discuss the latest developments in this critically important area and to guide delegates on how best to prepare for and to handle an FSA investigation, and, if this leads to enforcement action, the strategies and tactics that are likely to result in the best outcome.
The conference will be invaluable for all compliance officers, directors, senior managers within financial institutions, as well as their legal and other advisers.
£595
$983
€691 
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