Romin Dabir
Romin Dabir is a partner in Reed Smith’s Financial Industry Group and has experience of advising clients on a wide range of financial regulatory issues on both the sell-side and the buy-side. Areas of focus include interpretation of the Financial Services and Markets Act 2000 (and its underlying legislation), regulatory perimeter issues, governance, market abuse, conduct of business, marketing and distribution requirements.
Practice Area
Panel
- Contributing Author
1 Contributions by Romin Dabir
PRACTICE NOTES
FCA/PRA breach management: UK lawyers’ guide to detection, mandatory notifications (SUP 15.3/Principle 11), SM&CR duties, investigations, evidence preservation, redress and PR—minimising enforcement referrals
The Financial Services Enforcement Database
The Financial Services Enforcement Database holds detailed information on all substantive FCA and PRA Final Notices and, where available, Decision Notices issued from 2014 onwards. It can be queried and refined across multiple fields.
Rule or legislation breached
Keyword and sector
Date
Financial penalty and analysis of penalty components
Outcomes, including redress and prohibition orders
Other actions, such as referrals to the Upper Tribunal
In the UK, oversight of financial services is carried out by two distinct regulators, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), each with enforcement powers. The FCA operates a judgement-based as well as risk-based model, evaluating a firm’s position in the wider market to place investor interests at the heart of business models, while also delivering an appropriate level of consumer protection. The FCA’s primary objective is that UK financial markets function effectively. The PRA’s aim is to secure the safety and soundness of PRA-authorised firms, and to uphold the stability of the UK financial system. FCA- and PRA-authorised firms should understand the best way to deal with...
Financial Services
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