FRC to review sanctions imposed under its enforcement procedures
30 Mar, 2017
The Financial Reporting Council (FRC) has commissioned an independent review of the sanctions imposed under its enforcement procedures.
The review will consider matters such as:
- Whether the reasons for imposing sanctions set out in its guidance and policies remain appropriate.
- The fairness and effectiveness of the range of sanctions available under the enforcement procedures.
- Whether the financial penalty sanctions are adequate to safeguard the public interest and deter wrongdoing.
The review will be conducted by an independent panel.
The press release is available on the FRC website.
*Update 11/05/2017 - the independent review panel to conduct the review has issued a call for submissions and evidence. A report setting out the findings will be published. The deadline for responding is 30 June 2017. The press release is available on the FRC website*