Our expert regulatory team of lawyers can advise your business in relation to all matters concerning a Financial Conduct Authority (FCA) investigation. The FCA is an independent, non-governmental body that investigates a wide range of criminal and regulatory issues where it suspects financial wrongdoing.
A company or individual facing an FCA investigation needs immediate, specialist advice to avoid or minimise the potential costs and effects to you and your firm. At Precedence Law, we are experts in regulatory law with an excellent track record of successful outcomes.
FCA investigations
The FCA's approach is rigorous, and it is not just board directors and senior management that could face sanctions. The FCA has wide-reaching powers to investigate and prosecute any criminal activity or regulatory breaches in both the regulated and non-regulated sectors.
There is a wide-range of criminal offences that fall under the FCA's remit including:
- Insider dealing
- Boiler room schemes
- Money laundering
- Market rigging
- Mis-selling of financial services
- Situations where unauthorised individuals perform regulated activities (perimeter breaches)
- Collective investment schemes
We have expertise in advising clients on regulated collective investment schemes and FCA registration matters.
A firm's responsibilities
A firm must assess its own activities and gain clarification from the FCA on whether it needs to be authorised. This responsibility is taken very seriously and failure to properly deal with authorisation is a criminal offence that can result in sanctions including imprisonment.
The FCA cannot advise a company directly and so businesses that may need authorisation should obtain expert legal advice as quickly as possible. Likewise, if the FCA puts your business under an authorisation regime (or intends to do this) and you do not agree with their interpretation of your activities then you need specialist advice to assess your true position and to communicate with the FCA on your behalf.
Our expert solicitors can advise and represent you in all FCA investigations as well as guiding you on actions to avoid in any investigation.
FCA's powers
The FCA has a wide range of enforcement powers to use against both firms and individuals that breach their rules, including:
- withdrawing or varying permission or authorisation to firms or individuals
- preventing an individual from performing regulated activities
- financial penalties
- public censure
- making firms pay compensation to their consumers
- applying for injunctions, restitution orders, winding-up orders or insolvency orders from the court
- undertaking criminal prosecutions for financial crimes
Firms can be asked to provide the FCA with information, explanations and documentation as well as questioning the relevant parties at interview (sometimes under caution).
If you are involved with or concerned about the prospect of an FCA investigation then please contact our specialist FCA solicitors who can guide you through the whole process and represent you in any relevant proceedings. Our lawyers can give you practical and realistic advice on the options that are possible in your particular circumstances.
Our Expert FCA Defence Solicitors' Specialisms
- Dealing with FCA criminal investigations, including potential alleged breaches of s19 and s21 of the Financial Services markets Act 2000
- Acting on behalf of clients dealing with the Unauthorised Business Department (“UBD”), component of the FCA’s Enforcement & Market Oversight Division
- Operating within the context of FCA criminal investigations, advising in relation to alleged Regulated Activities, consideration of the Financial Services Markets Act 2000 (Regulated Activities) Order 2001 (“RAO”)
Contact our Expert FCA Defence Solicitors, Leeds, Yorkshire, London, Manchester, Birmingham, UK
We represent professionals, regulated professionals, executives, directors, business owners, high profile and high net worth individuals from Leeds, Bradford, Yorkshire, East Midlands, West Midlands, London, Manchester, Birmingham and all jurisdictions in England and Wales.
For a free, confidential discussion about your case, call us now on 03300947221 or fill out our online form and we will call you back without delay. Should you find yourself needing urgent advice and representation, you can contact us 24 hours per day, seven days a week.
