1. BACFI's seminar on financial services, integrity and the right to a fair hearing Dr. Nicholas Ryder Professor in Financial Crime TBACFI Seminar on Financial Services: Wednesday May 20 2015

2. The Regulator The Financial Conduct Authority: – Prosecuting authority for both money laundering, insider dealing and limited number of fraud related offences, – It has the power to impose financial sanctions where it had established that there had been a contravention by an authorised person of any of its requirements, and – ban authorised persons and firms from undertaking any regulated activity.

3. Credible Deterrence “deliver a message that breaches of law and/or regulation will result in offenders suffering ‘meaningful consequences’ including imprisonment” (Nesvetailova, 2010) “involves bringing action not just against firms, but also against individuals … a sanction imposed on an individual may have longer- lasting consequences” (Peat and Mason, 2009)

4. Enforcement Activities (FCA) YearTotal Financial Sanctions 2007£5.3m 2008£22.7m 2009£35m 2010£66.1m 2011£89.1m 2012£311.5m 2013£474.1m 2014£1.4bn 4

5. Enforcement Activities (SEC) Number of Entities and Individuals Charged175 Number of CEOs, CFOs, and Other Senior Corporate Officers Charged 70 Number of Individuals Who Have Received Officer and Director Bars, Industry Bars, or Commission Suspensions 40 Penalties Ordered or Agreed To$1.87bn Disgorgement and Prejudgment Interest Ordered or Agreed To$1.29bn Additional Monetary Relief Obtained for Harmed Investors$418m Total Penalties, Disgorgement, and Other Monetary Relief$3.95bn 5

6. Enforcement Activities ctd Jonathan Burrows Peter Cummings Yohichi Kumagai David Jones Johnny Cameron Fred Goodwin Paul Robson