FCA’s light touch approach on off-channel comms is a warning shot, not a fine

Industry response to the FCA’s multi-firm review into off-channel communications and a comparison with the US approach.

The FCA’s recent multi-firm review into off-channel communications, revealing widespread breaches, has been seen by industry experts as a strategic move to signal the regulator’s intent without resorting to immediate enforcement action. This approach marks a distinct departure from the more punitive and rules-based strategies of its US counterparts, prioritizing

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