PIMFA, the wealth and investment management trade body, has raised “serious concerns” about the FCA’s proposals to make public enforcement investigations against regulated firms.

The FCA is to consult on speeding up enforcement cases in an attempt to increase the deterrent impact of its actions and improve the public's confidence in the regulator as an enforcer.

The FCA confirmed some important new appointments this week which suggest that it will be trying to take a tougher line with enforcement in future.

The Financial Conduct Authority has appointed Therese Chambers and Steve Smart as joint executive directors of enforcement and market oversight in a move to strengthen its enforcement team.