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FCA moves to reform policy on penalties for individuals

A close-up of a British ten pound banknote featuring King Charles III.
Photo: Getty Images

Headline changes include 50% raise in minimum penalty for most serious market abuse cases.

The UK FCA’s latest consultation on changes to its penalty and decision-making policies marks a deliberate attempt to recalibrate the economics of enforcement against individuals.

In CP26/19, published on June 15, 2026, the FCA proposes targeted amendments to the Decision Procedure and Penalties Manual (DEPP), most notably raising the

That is significant

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