A Law Firm For Life
RESA Regulatory Enforcement & Sanctions Act
If you require advice and information about the Regulatory Enforcement & Sanctions Act, Irwin Mitchell can provide you with the support you require. We have extensive litigation experience in fraud and regulatory matters, and keep commercially aware to ensure that we can represent our clients' interests in the best way. We provide appropriate advice for avoidance of criminal proceedings and will ensure that our advice is both practical and in line with your business.
For an initial discussion, with no obligation, call Kevin Robinson on 0207 421 3883 or Dan Stowers on 0114 274 4295. Alternatively you can send us an online enquiry.
Experts In Regulatory Enforcement & Sanctions
The Regulatory Enforcement and Sanctions Act was introduced in July 2008 and legislates to ensure the effective performance of local authority regulatory services. The Act also creates civil sanctions in relation to regulatory offences which can be imposed by the Regulator, without spending time and resources associated with bringing criminal proceedings. The Act provides for new types of civil financial penalty, which imposes a fixed fee for a breach.
There is also discretionary penalty, which can be:
- A Variable Monetary Penalty which is designed to remove any financial gain from committing the offence
- A Compliance Notice which requires that steps are taken to ensure that the offence does not happen again
- A Restoration Notice which requires the business to take specified steps to remedy the damage caused by the offence
- A Stop Notice can also be issued, preventing the business from carrying on until steps have been taken to comply. Additionally an Enforcement Undertaking enables a business to give an undertaking for one or more corrective actions. These penalties come direct from the Regulator and are the product of complex legislation provisions.
The impact of these regulatory penalties can be significant for a business, and can involve significant clean-up costs or the cost of increased safety measures. Irwin Mitchell will be able to assist you in reaching a satisfactory conclusion for you and the Regulator.
The above civil sanctions have significant advantages for businesses faced with regulatory action:
- There is now a serious alternative to criminal penalties, avoiding the cost and stigma of being convicted
- The new scheme offers more transparency for those working in regulated areas
- The regulators must publish guidance and report annually on their activities
- There is also the broader advantage of an emphasis on restorative rather than punitive procedure, allowing the authorities to ensure that businesses act within the regulations
This new framework means that there are now more options available to the regulators - and correspondingly there are more opportunities to avoid prosecution for a breach of regulations. However, in order to take advantage of these new opportunities, it is necessary to instruct a firm of solicitors with experience of negotiating with regulators to achieve the best results. Irwin Mitchell has the relevant experience to negotiate with regulatory bodies and will seek the best results in all circumstances.
It is difficult to estimate costs in advance, due the individuality of each case and our work is tailored to the needs of each client. However, we have excellent IT facilities and work on many cases involving significant amounts of documentary evidence. We will be able to keep costs to a minimum and will ensure that you receive value for money.
We will keep you informed with regular updates of work done and costs, and we will also discuss any further work with you before it is carried out. This ensures that you are kept fully aware of your expenses and the direction our work is taking.
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.
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 Regulatory Enforcement & Sanctions Information
For an initial discussion, with no obligation, call Kevin Robinson on 0207 421 3883 or Dan Stowers on 0114 274 4295 or send us an online enquiry.