Related insights: Dispute Resolution and Litigation

At the end of February 2024, the FCA published a consultation paper proposing significant changes to its approach to publicising enforcement investigations. Up to now, publicly available information on ongoing investigations is minimal. Usually, the public would know about an investigation only when the FCA publishes the Final Notice relating to it, or sometimes, where appropriate, a Warning or Decision Notice. Now, in the interests of transparency, the FCA proposes proactively to publish more information about its enforcement investigations including their opening and progress as well as the identity of the subject of the investigation. Crucially, this means the public will know that some firms are under investigation well before the FCA decides whether the firm in question has in fact breached any rules. Would this transparency come at too much of a cost to regulated firms?

In this article, written for Compliance Monitor, Michael Lewis and Emma Radmore of Womble Bond Dickinson look at the drivers, the proposals, the safeguards and the possible consequences.

Following the release of the judgment in Frampton & Frampton v MLP Law Limited, Womble Bond Dickinson (UK) LLP has successfully defended a firm of solicitors in relation to a 2017 conveyance concerning the advice given to the Claimants in relation to ground rent provisions in a long leasehold property. The legal profession has long been fighting these claims and this judgment follows two recent judgments that reached similar conclusions on breach and loss (Snow v Bannister Preston Solicitors LLP (unreported) and Edwards v Howells Solicitors (unreported)). Tim Barr and Amaney Ehtash at WBD were acting for MLP Law and Jack Steer from 4 New Square was successful defence counsel.