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FRC publishes its fourth Annual Enforcement review

Jul 29, 2022 | Other

Link(s):News I Financial Reporting Council (frc.org.uk);  FRC Annual Enforcement Review July 2022

Context

The FRC has published its fourth Annual Enforcement review, revealing a record number of cases and financial sanctions of £46.5 million being imposed.

Key points to note

  • Record financial sanctions of £46.5 million imposed for misconduct and breaches of standards (before adjustments for early disposal)
  • Record number of cases resolved in year
  • Over 100% increase in non-financial sanctions, up from 28 to 62
  • Headcount in FRC’s Enforcement Division grows by 23%

Next actions

None – for information and awareness.