The UK's Financial Conduct Authority (FCA) has significantly reduced its enforcement activities, closing 100 active investigations to date. This marks the largest number of cases the regulator has ever concluded since its inception in 2013, almost halving its active caseload to 124 as of October, down from 230 in 2022. Regulatory bodies, including the FCA and the US Securities and Exchange Commission (SEC), are shifting their focus to higher-impact cases and adopting a more selective approach to enforcement.
This strategic pivot is attributed to various factors, such as governmental pressure to foster business-friendly practices and bolster the economy, as well as a more politically accommodating stance towards the crypto industry. This trend mirrors developments across the Atlantic, where the SEC has also scaled back its intensive oversight by approximately 60%. Both authorities are prioritizing cases with greater market significance over a high volume of minor infractions.
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