The Financial Conduct Authority (FCA) regulates the financial services industry. FCA authorisation is required to undertake UK based regulated financial activities. Failure to address authorisation is a criminal offence.
Examples of regulated financial activities include; consumer credit, investment business, electronic money, insurance business and home finance/mortgages.
During an investigation the FCA has authority to suspend, vary or withdraw permissions allowing individuals from undertaking regulated activities It may impose fines for breach of rules, issue winding up injunctions and restitution orders, bring criminal prosecutions, seek compensation and request information.
The FCA’s general policy is to pursue through the criminal courts any case where a prosecution is ‘appropriate’ applying the tests set out in the Code for Crown Prosecutors. Examples of criminal prosecutions include cases of mis-selling of financial services, market rigging, money laundering, prosecution of unauthorised persons carrying out regulated activities, collective investment schemes, boiler room frauds.
However, the FCA’s approach to a criminal prosecution is not always straightforward, bearing in mind the range of criminal, civil and regulatory options available and its power to issue FCA cautions. It may also liaise with other prosecuting authorities, typically the Crown Prosecution Service or the Serious Fraud Office.
We represent businesses and individuals who are subject to FCA investigations. We act during the investigatory stage, fact finding stages or attendances at compulsory interviews.
If the Financial Conduct Authority seek to investigate you or your or your business it is crucial to seek early representation. Businesses and individuals should not sleep walk into what could become a criminal prosecution. We recognise the inconvenience and stress any kind of contact from the FCA can cause. We adopt a strategic approach to crisis management ensuring that matters are dealt with in a sure footed and holistic manner keeping disruption to a minimum, seeking to bring any investigation to a swift conclusion.
Specialist FCA Solicitors (London & Manchester)
If you are facing an investigation by the Financial Conduct Authority contact one of our specialist FCA solicitors: