The FCA building in Canary Wharf.
© Charlie Bibby/FT

Caroline Binham’s report “ Record caseload for UK financial regulator” (August 13) contains a small but most important fact. The Financial Conduct Authority statistics on first view look a little alarming with a 22.9 per cent increase in active investigations open at April 1 2018 (moving from 404 to 510 cases). What is most concerning is the number of governance-related investigations, which have quadrupled from 15 in 2017 to 61 in 2018.

Make no mistake, the FCA is now paying increased attention to the internal governance standards of regulated firms. This is now a well-defined direction of travel and all regulated firms should be taking steps now to improve their board standards as a matter of priority.

Gary Dixon
Association of Independent Non-Executive Directors,
Leicester, UK

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