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Financial Conduct Authority

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Financial Conduct Authority Investigations

Our regulatory team of lawyers can advise you and your business in relation to Financial Conduct Authority (FCA) Investigations.

The Bank of England has taken over the responsibility of regulating most of the financial services industry and is responsible for the Financial Conduct Authority “FCA” and the investigation of a wide variety of criminal offences and regulatory issues.

When the FSA was abolished in 2013 many of its functions transferred to the FCA, which deals with the conduct of firms, corporations and companies involved with financial services.

Authorisation, Exemption and Permissions

Under the Financial Services and Markets Act 2000 (FSMA) it is a firm’s responsibility to assess its own activity and to seek clarification from the FCA as to whether it should be authorised. This responsibility must not be ignored by directors and officers as failure to address authorisation is a criminal offence carrying a prison sentence and other sanctions.

The FCA will only refer any enquiries to their handbook, they will not advise a company directly. So, in the event that you think your firm needs to be authorised you should contact us for specialist legal advice.

If you find the FCA have, or intend to place your firm under an authorisation regime and you disagree with their view of your activities we can help to assess the position and initiate communication with the Regulator on your behalf.

Criminal Issues

The offences that the FCA prosecutes through criminal courts carry varying penalties depending on the type of offence and can include substantial prison sentences and financial orders for those convicted. The FCA investigates a wide range of criminal matters including:

If the FCA has begun a criminal investigation or issued proceedings against you, then you should get in touch with us to get immediate legal advice from one of our specialist lawyers.

Regulatory Issues

The FCA regulates the financial services industry and can bring disciplinary proceedings against authorised firms. In relation to regulatory breaches, the FCA has the power to:

The first step in the disciplinary procedure is usually a warning notice, which allows you various opportunities to make representations to the Regulatory Decisions Committee.

The FCA can then request firms to provide them with information and/or explanations concerning documentary material as well as requiring documents to be provided to them. In many circumstances, they try to proceed on a consensual basis with those they are investigating. However, in some circumstances, the interviews that they conduct will be interviews under caution. Any actions taken by the Regulatory Decisions Committee (RDC) of the FCA as a result of this process can be appealed to the Financial Services and Markets Tribunal.

Get in touch

If you require advice and assistance following contact from the Financial Conduct Authority contact us as soon as possible to find out how we can help. You can speak to one of our expert lawyers in strict confidence and without obligation:

  • Request a free call back using the form on the right
  • Phone us during office hours on 0845 216 2000
  • Email us at help@richardnelsonllp.co.uk.

Who Can Help You?

Jonathan Wright

Partner

Shola Mos-Shogbamimu - consultant solicitor

Shola Mos-Shogbamimu

Consultant Solicitor

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What we do...

We can provide expert advice to you and your business in relation to FCA Investigations and regulatory matters including:

  • FCA authorisation, exemption and permissions
  • Money laundering
  • Misleading or obstructing an FCA investigation
  • Boiler room schemes
  • Insider dealing
  • Disciplinary proceedings

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