(Bloomberg) The Financial Conduct Authority started 84 of the probes this year, the most ever in a 12-month period, according to a freedom-of-information request by Bloomberg. The figure, which is based on cases started through Dec. 7, breaks last year’s record high of 70 new investigations. The number of probes has risen dramatically since enforcement chief Mark Steward took over the helm two years ago. Under him, the regulator has moved away from cherry-picking cases for deterrence purposes, instead attempting to pursue all leads regardless of the outcome. As well as increasing the number of investigations, the strategy has also seen a record 56 cases closed this year, according to the data.
U.K. Insider-Trading Investigations Set Record as FCA Cleans Up
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