A Law Firm For Life
Financial Services Authority Investigations
An investigation by the Financial Services Authority (FSA) can be a traumatic and disruptive time for both individuals and businesses.
Whilst it exists for the protection of responsibly-run businesses and honest consumers, the FSA's Enforcement Division has the power to:
- Investigate and sanction firms and individuals
- Compel individuals to attend interviews
- Make compulsory requests for information and documents
- Punish individuals and firms by way of fine, censure, prohibition or removal of authorisation or approval for breaches of the FSA's principles and rules for business
- Commence civil litigation and criminal proceedings for certain criminal offences such as FSMA offences, misleading statements/practices and insider dealing.
For an initial discussion, with no obligation, call Sarah Wallace on 0207 421 3883. Alternatively you can send us an online enquiry.
Experts In The Regulations And Procedures Of The FSA
Investigations or disciplinary proceedings are brought by the FSA Enforcement department in cases where they suspect individuals or companies of:
- Mis-selling
- Market abuse
- Insider dealing
- Misleading statements and practices
- Money laundering
- Illegal share selling or 'boiler rooms'
- Illegal deposit-taking
- Unauthorised collective investment schemes
- Mortgage fraud
- Perimeter breaches
- FSA principle and rule breaches
Irwin Mitchell can provide expert guidance and advice if you are currently in one of the following situations:
- At risk of an investigation by the FSA
- Involved in an investigation that is already underway
- Having concerns about disclosing particular information to the FSA
Our experienced and specialist lawyers can represent you in relation to alleged FSA breaches, whether criminal, civil or regulatory, and advise you regarding the limits of the FSA’s powers.
Sarah Wallace, one of our partners, has been seconded to the FSA Enforcement & Financial Crime Division. She brings to our team detailed understanding of:
- FSA Enforcement regime
- FSA compulsory powers to collect and gather information
- FSA investigation processes and internal decision making (by the Regulatory Decisions Committee or RDC)
- References to the Financial Services and Markets Tribunal
- The wide cross-section of financial services firms and individuals that the FSA regulates.
- FSA criminal investigation and prosecution
We can also explain in full the implications of an FSA investigation on your approved-person status. We’ll help you to deal with any issues you may be facing, including:
- Self-reporting or FSA notification of potential rule breaches
- FSA handbook - principle and rule breaches
- Financial promotions regime and mis-selling
- Training and competence, systems and controls
- Perimeter guidance and regulated activities
- Approved Persons Fit and Proper regime
- Senior management responsibility and significant influence functions (‘SIFs’)
- FSA interviews under compulsion or caution
- Regulatory Decisions Committee (RDC) hearings
- Financial Services and Markets Tribunal hearings
- Proceedings against the FSA
- Negotiating settlement and final notices.
The added advantage of being with one of the UK’s largest legal firms is that you have instant access to all our other specialist disciplines. We can draw upon in-house expertise of employment law, for example, if you have to deal with an employee misconduct or disciplinary matter as a result of an FSA investigation.
Working With Irwin Mitchell
Irwin Mitchell is one of the UK’s most successful and respected law firms. Offering expert legal guidance for individual clients, we are also the law firm of choice for many financial institutions in providing legal services to their customers.
We provide clear, straightforward advice and a professional, proactive service. When needed, we will fight fearlessly to protect your interests.
Many legal needs can be met as they arise or planned for in advance. Others are harder to anticipate. Whatever the circumstances, our commitment to our clients is simple - a law firm for life.
Further Information
For an initial discussion, with no obligation, call Sarah Wallace on 0207 421 3883 or send us an online enquiry.