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FCA Enforcement and Market Investigations

As one of the most effectively resourced law enforcement bodies in the UK it is important for any firm or individual who comes into contact with the FCA's Enforcement and Financial Crime Division (EFCD) to be prepared. Whilst the FCA is not an enforcement-led regulator, it remains one of the most active enforcement agencies in the UK.

The FCA has signalled its intention to continue with its "Credible Deterrence" strategy when its responsibilities are transferred to the Financial Conduct Authority. This is a concern to any firm or individual subject to such action as the consequences may be severe, whether this is a public censure, a financial penalty or being prevented from working in the industry in the future. We appreciate the legal and reputational risks facing our clients in these matters and our advice is tailored to ensure that our clients receive the best advice on handling the issues arising in any enforcement investigations and disciplinary action.

We have substantial experience in advising and representing clients in relation to FCA Enforcement cases and the conduct of market investigations by the UKLA and AIM regulation team.

We advise on the full range of enforcement investigations that are brought by EFCD. Our financial services team has experts in the conduct of forensic investigations by the FCA and in the handling of the FCA proceedings whether these are regulatory, civil or criminal in their nature. Our team also has experience in wholesale, retail and unauthorised business investigations.

Examples of the areas in which we can provide specialist assistance include:

  • supervisory and enforcement relationship handling, including providing advice and assistance on how to deal with initial contact and scoping of an FCA investigation
  • responding to and handling FCA investigation requirements, including representation of clients under investigation and subject to FCA compulsory interviews
  • advising on potential risks and liabilities arising out of potential breaches of the Financial Services and Markets Act and FCA Handbook requirements, and in serious cases in connected legislation, including insider dealing legislation, anti-bribery and corruption legislation and financial crime issues
  • representation in enforcement investigations where we have specialist expertise in analysing FCA disciplinary cases and taking appropriate action in response to FCA action. This includes representation in settlement proceedings and in regulatory proceedings before the RDC and Upper Tribunal (Tax and Chancery Chamber).

In the most serious cases we appreciate that it is necessary to deploy an approach that will address the challenges posed by a substantial enforcement investigation. In such cases we will work with other equally experienced professionals, including counsel, forensic accountants and investigators to ensure that our clients' interests are protected.


Recent news, articles and deals:

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Peter Wright
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Direct dial: +44 (0)20 7614 2680
pwright@foxwilliams.com

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sganatra@foxwilliams.com


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