We advise a wide range of clients in connection with financial services related investigations and enforcement proceedings in both the wholesale and retail sector.
We deal with FCA enforcement matters for firms and individuals from inception to conclusion, including negotiation of the terms of settlement of regulatory action, working with other professional advisers where necessary or advisable. We advise in connection with Section 166 skilled person reports where these are required to be carried out by the FCA. We also act on enforcement and disciplinary matters brought by other regulators and professional bodies in the sector.
We conduct internal investigations involving regulated entities and individuals and listed companies involving market and regulatory conduct and governance issues. We advise on compliance issues, redress and remediation exercises, including past business reviews.
Our specialist Fraud and Financial Crime lawyers advise where issues as to criminal conduct arise, for example, in relation to offences under FSMA, market misconduct, money laundering and the operation of fraudulent investment schemes.
Examples showing the range of our experience include:
- Conducting an internal investigation jointly with reporting accountants appointed by an Audit Committee resulting in a referral to the FCA of former senior executives of a listed company and a subsequent criminal prosecution for misleading statements to the market
- Acting for a brokerage firm in connection with a regulatory investigation and subsequent enforcement proceedings in connection with CASS breaches including a section 166 skilled person appointment.
- Conducting a Past Business Review with regard to the sale of GAP insurance and formulation of a remediation strategy
- Acting for a Nomad (nominated adviser) on a Stock Exchange investigation in connection with alleged breaches of AIM rules on market disclosure.
- Conducting an internal investigation into alleged breach of OFT rules regarding the promotion and sale of landlord and tenant insurance policies
- Conducting an internal investigation into allegations of financial impropriety against the Chief Executive of a well-known financial institution
- Acting for the Finance Director of a listed company in disciplinary proceedings brought by the ICAEW in connection with misleading financial statements and irregular revenue recognition
- Acting for the Operations Director of a major institution for alleged governance failings regarding the reporting and remediation of CASS breaches and securing the discontinuance of proceedings
- Acting for a range of clients on FCA related enquiries into conduct and governance issues involving FCA Principles and prudential and business standards