The Financial Conduct Authority (FCA) is vigorously pursuing regulatory and criminal prosecutions of individuals suspected of financial wrongdoing.
The FCA replaced the Financial Services Authority (FSA) in April 2013 and its policy of ‘credible deterrence’ has led to a record number of enforcement cases with substantial financial penalties and criminal charges.
It is determined to further enhance its tough stance which will lead to more individuals – not only board directors and senior management but also those further down the organisation – coming under the FCA spotlight.
The FCA is working closely with organisations both in the UK and abroad including the Serious Fraud Office (SFO), US Department of Justice (DOJ) and the Securities and Exchange Commission (SEC), and has significant powers to investigate and prosecute suspected criminal activity and regulatory breaches by individuals working in the regulated and non-regulated sectors.
Our FCA regulatory and fraud solicitors have represented individuals in some of the most high profile cases brought by the financial regulator.
We are experts in advising clients in the most complex financial service regulatory and criminal investigations at every stage, from internal company investigations to interviews under caution, offering clear and pragmatic advice with successful outcomes.
We have excellent knowledge of how the FCA works and are often successful in defending cases at the investigation stage, preventing civil and criminal proceedings being brought against our clients.
Cases which our FCA investigations and financial crime solicitors have advised on include:
- Acted for former finance director in the high profile iSOFT case. Directors were prosecuted on conspiracy to mislead the market. The case was describe as the FSA’s ‘flagship prosecution’. All four directors were acquitted at the end of a second trial
- Represented four directors in a multi-agency investigation into alleged pension liberation fraud. Regulators included the FCA, HMRC and the Pensions Regulator. All allegations were withdrawn at the end of a three year investigation
- Instructed to advise a senior director of a multi-national plc following a FSA and City of London police raid and subsequent investigation into an alleged multi-million pound hole in client funds, achieving no further action
- Instructed to advise a number of City traders in connection with the ‘LIBOR’ scandal throughout a multi-agency investigation which included the FCA
- Successfully represented the CEO of a Plc in connection with multiple allegations surrounding market listing rules and disclosure and transparency regulations. No further action was taken against the client