So Far So Good For FCA's Little-Used Settlement Process
Law360, London (May 13, 2019, 6:56 PM BST) -- Even though the Financial Conduct Authority only used its partial settlement process for the third time in April, attorneys say the system is proving to be a success for individuals and companies facing disciplinary action from the watchdog.
Standard Chartered PLC, mobile retailer Carphone Warehouse and broker Linear Investments have all recently used the regime to challenge large financial penalties from the regulator while remaining eligible for a discounted fine, overall making rare use of a process established in 2017.
Each of the attempts to whittle away at the size of the sanction ultimately failed. But Syedur Rahman, senior associate at Rahman...
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