FCA warns of more fines if culture does not change – FX Week Europe

Director of enforcement Tracey McDermott delivers keynote

Tracey McDermott of the FCA
Tracey McDermott, FCA

The director of financial crime and enforcement at the UK Financial Conduct Authority (FCA) has warned if banks continue to fail in addressing cultural changes to prevent future misdemeanours, the regulator will come down hard on them, as it has done recently over misconduct around foreign exchange benchmarks.

Speaking at FX Week Europe in London, Tracey McDermott gave a sobering keynote address to industry participants, warning that firms and individuals alike should bear responsibility for the

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