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RPC Says U.S. Regulators Are Clamping Down On Executives Of Financial Services Providers


While the widespread use of regulated currencies is one of the best things to happen to human society, far too many businesses, individuals, and governments have tried to take advantage of others and “beat the system.” To help guard modern society against such issues, the United States Securities and Exchange Commission (SEC) – almost always is the government agency called the SEC, rather than by its long-form name – oversees the financial markets based in the United States, the NASDAQ and New York Stock Exchange, on which public shares of major corporations are sold around the world, as well as transactions between businesses that could break laws designed to protect both domestic citizens and people all around the world.

RPC, or Reynolds Porter Chamberlain, is a major law firm specializing in insurance and corporate dealings that is based in the capital of the United Kingdom – London.

Recently, RPC released research that found government regulatory agencies belonging to the United States government – including the U.S. Securities and Exchange Commission – have ramped up their oversight of executives serving financial services providers across the United Kingdom.

Various regulatory agencies – namely the aforementioned SEC and the COmmodity and Futures Trading Commission, both based in the United States – across the United States have asked financial services industry watchdogs in the United Kingdom for overseas assistance in joint investigations of individual financial services figures, most of whom work as executives atop the United States’ and the United Kingdom’s top finance industry competitors, 203 times from December 2016 to December 2017.

The mark is some 17 percent higher from the current 12-month period as compared to the same length of time from December 2015 to December 2016. During the latter period, United States regulatory agencies asked those in the United Kingdom for help just 174 times.

Just last April – two months ago; April 2018 – the United States and the United Kingdom formalized a joint regulatory agency. Both governments’ departments of the Treasury will help the U.K. stay on top of its regulatory needs as the country is easing into its exit from the European Union.

In the past, some individuals and businesses have felt that hopping “across the pond” – the Atlantic Ocean – effectively guarded them against most regulatory insights, inquiries, subpoenas, and indictments by the United States government. However, says Parham Kouchikali of RPC, recent efforts to work together “should serve as a stark warning” to such international perpetrators.