Alison McHaffie is a partner in CMS Cameron McKenna's Financial Services team. On a regular basis, Alison shares her thoughts with Practical Law Financial Services subscribers on topical developments concerning investigation and enforcement activity in the financial services sector.

In her first column, Alison considers how the FCA and PRA are using their powers to hold senior management to account for the failings of their firms. She assesses whether, in doing so, they will be able to successfully turn their tough words into actions.