What We Do
Our team of financial regulation lawyers work with many high level individuals every year who are being investigated by the Financial Conduct Authority (FCA). We also work with senior management members to help them avoid future FCA enforcement investigations.
If you are expecting an investigation by the FCA, it is important to seek expert legal advice immediately to help guide you through what can be a legal minefield.
An enforced investigation could be costly to you and your firm, with financial penalties, public censure and many other sanctions possibly being issued by the FCA.
During an investigation, the FCA has the authority to:
- Suspend you and/or the firm from undertaking regulated activities
- Fine the firm, or those who breach FCA rules or commit market abuse
- Apply to the Court for injunctions, winding up orders and restitution orders
- Bring criminal prosecutions against you to tackle financial crime, such as insider dealing, market manipulation, fraud or unauthorised business (breaching the general prohibition)
- Impose fines and public censure
- Seek compensation for your consumers
- Request information from the firm (both online and hard copy) and ask you questions under interview
Our Experience In FCA Investigations
We provide tactical and realistic advice to anyone fearing or facing a financial investigation.
As one of the leading financial services regulation teams in the UK, we deal with criminal, civil and regulatory investigations brought by the Financial Conduct Authority (FCA).
We have many years of experience in judicial review proceedings against the FCA, and have represented many clients facing winding up and injunction proceedings in the High Court, as well as prosecution.
Our expert Sarah Wallace has been seconded to the FCA’s General Counsel Division and the Enforcement & Financial Crime division. She has an in-depth knowledge of how the regulator works and understands the tactics that are used.
The team often works with specialist barristers, compliance consultants and forensic accountants to achieve the best outcome for you and your business.
Our expert team of regulatory lawyers have recently acted for the following:
- A number of individuals in London Interbank Offered Rate (LIBOR) and benchmark internal and FCA investigations – representing individual traders in internal interviews by their bank employers and in interviews by the FCA.
- Numerous individuals investigated and prosecuted by the FCA for criminal offences of insider dealing and conspiracy to defraud.
- A chief executive and a compliance officer under investigation for breaches of Senior Management Arrangement Systems and Controls (SYSC) and breaches within the Institute of Financial Accountants (IFA).
“An excellent firm. They are very responsive to clients’ needs, very proactive and they add value significantly to the preparation and conduct of the case.” - Chambers & Partners, 2016.
Sarah Wallace “fights tooth and nail for her clients, while remaining pragmatic.” - Legal 500, 2015.
"Irwin Mitchell is 'an excellent alternative to the City firms' for FCA investigations and enforcement actions." - Legal 500, 2014.
"Sarah Wallace is tenacious in pursuing the interests of her clients whilst giving realistic advice." - Legal 500, 2014.
"Sarah Wallace is a 'tenacious' and 'diligent' lawyer, who is committed to her cases and provides very good client care." - Chambers & Partners, 2014.