REGULATORY UPDATE

Journal of Financial Regulation and Compliance

ISSN: 1358-1988

Publication date: 1 April 1996

Abstract

Annual Report 1995—1996 The Securities and Investments Board (SIB) has published its Annual Report for the period 1st April, 1995, to 31st March, 1996. It contains a review of supervisory and enforcement activity throughout the year. Five hundred and eighty‐eight new investigations were begun by the SIB during the year, the vast majority without the need for recourse to the formal s. 105 Financial Services Act (FSA) power of investigation. Just over 80 per cent of these investigations related to suspected unauthorised investment business and in over half of these cases completed during the year no evidence of investment business was discovered. Two disqualification directions were made against individuals as unfit to be employed in investment business pursuant to s. 59 FSA and 48 individuals were convicted in criminal proceedings brought as a result of referrals from the FSA regulators.

Citation

(1996), "REGULATORY UPDATE", Journal of Financial Regulation and Compliance, Vol. 4 No. 4, pp. 404-407. https://doi.org/10.1108/eb024899

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Publisher

:

MCB UP Ltd

Copyright © 1996, MCB UP Limited

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