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This
Scheme is intended to enable firms and individuals who are
the subject of enforcement proceedings by the FSA to mediate
their disputes. The Scheme has been expanded since its inception
in December 2001 to allow for mediation at the early stages
of the enforcement procedure, before a Warning Notice has
been issued. It is hoped that there will be wide uptake under
this scheme and it is intended that it should comprise not
only enforcement procedures but third party compensatory claims
as well. The FSA now encourages all individuals and firms
to mediate when they are under investigation from its enforcement
division unless they are the subject of a criminal charge.
There
has been a substantial success rate in the settlement of enforcement
proceedings under the mediation scheme to date.
ACI's
scheme for mediation under FSA procedures is described in
greater detail in the Explanatory Notes for the Scheme available
in the ACI printed documents for the FSA
Scheme.
Patron: Rt
Hon The Lord Saville of Newdigate |
