Sign up for our free daily newsletter
YOUR PRIVACY - PLEASE READ CAREFULLY DATA PROTECTION STATEMENT
Below we explain how we will communicate with you. We set out how we use your data in our Privacy Policy.
Global City Media, and its associated brands will use the lawful basis of legitimate interests to use
the
contact details you have supplied to contact you regarding our publications, events, training,
reader
research, and other relevant information. We will always give you the option to opt out of our
marketing.
By clicking submit, you confirm that you understand and accept the Terms & Conditions and Privacy Policy
The Financial Times newspaper in London reports that FSA will begin the selection process next week, publishing a preliminary tender questionnaire. The FSA hope to have the panel in place by March.
Enforcement action
The reportedly highly profitable investigations – also known as 166 reports – are ordered by the FSA when a financial company suffers a mishap, and can be used as a basis for a fine or further enforcement action.
Fees, which will be paid for by the target company, can range from £4,000 to £4.4 million. For larger companies, the fee range is regularly towards the top end of that bracket.
The reports have previously been the domain of the ‘big four’ accountancy firms, with lawyers complaining that the tender process has made it difficult to demonstrate they could complete satisfactory investigations.
Email your news and story ideas to: [email protected]
