FCA’s transaction governance review urges wholesale banks to implement robust frameworks, safeguard inside information, and strengthen risk management to mitigate potential FC

The FCA found that while some banks operate with strong risk frameworks—ensuring clear risk appetite, documentation, and condition tracking—others exhibited gaps in managing reputational risk and lacked adequate record-keeping of early-stage transaction deliberations, heightening opportunities for undetected or risky activity FCA. Additionally, lapses such as decisions taken without quorate committees…