Enforcement Matters

What Changed

No new regulatory changes or requirements are introduced; this is a static resource page listing historical and ongoing enforcement outcomes, focused on curatorship reports and court orders. It underscores the FSCA's established powers to apply remedial actions like curatorships (court-appointed oversight of failing institutions) and administrative penalties, with appeals available to the Tribunal. Key themes include prolonged curatorships for cases involving FAIS (Financial Advisory and Intermediary Services Act) violations, asset mismanagement, and failure to comply with financial laws.

Suggested Considerations

• Monitor ongoing curatorships: Firms should review listed cases (e.g., CMM, Fidentia) for parallels to their operations, ensuring robust compliance with FAIS and financial sector laws to avoid similar interventions.
• Strengthen governance and reporting: Implement controls to prevent triggers like asset misappropriation or non-compliance, including regular internal audits and transparency with FSCA.
• Prepare for escalation: Maintain records for potential Tribunal appeals; engage legal counsel if supervisory concerns arise, as FSCA prioritizes remedial action before penalties.
• Proactive remediation: Address any identified issues promptly, aligning with FSCA's emphasis on supervision-driven enforcement.

Who is Affected