UK FCA Annual Report 2019/20 – Key Takeaways

Recent press coverage reports that 2020 has seen a significant drop-off in enforcement activity by the UK’s financial services regulator, the Financial Conduct Authority (the “FCA”) with new enforcement cases against companies down 76 percent and a number of open cases now closed. However, this will likely be a temporary shift only as the FCA pivots to meet the uncertainty and twin-challenges presented by the Covid-19 lockdowns and Brexit.