Financial Conduct Authority

Investigations conducted by the Financial Conduct Authority are often protracted, serious and complex. The impact on you and your family could be devastating and you should not take any chances on your choice of representation.

The sanctions available to the Authority can have a profound financial and reputational impact on individuals and firms. Moreover, individuals who risk being prohibited from holding controlled functions, or from operating within the regulated sector altogether, will have grave concerns about their and their family’s future financial security.

The terms and scope of an enforcement investigation are framed early on and in certain circumstances such action can be avoided altogether. It is therefore essential to seek specialist legal advice as soon as the FCA (typically its Supervision department) raises concerns.

Clarke Kiernan can advise at any stage of the process, from pre-referral through to proceedings pursued in the Upper Tribunal. The typical investigation will involve smaller firms who operate in the retail sector, such as independent financial advisers, mortgage brokers, insurance intermediaries and SIPP providers.

Given our experience in financial crime we are well placed to represent approved persons who face APER 1 breaches (integrity). Whether the allegations are of dishonesty or recklessness we can anticipate the implications of any regulatory proceedings on future criminal action. We work closely with barristers who share this cross-over of expertise. Some have recently undertaken secondments at the Enforcement Division of the FSA working on regulatory investigations that concerned matters such as the misappropriation of insurance premiums, mortgage fraud, the promotion and misselling of Unregulated Collective Investment Schemes (“UCIS”), the conduct of firms ‘passported in’ under the EU directives (under IMD and MiFID), complaints handling, client asset issues and claims of serious financial hardship.

Clarke Kiernan can ensure a high level of professional service from the outset of our involvement in your case and will explore every avenue available to mitigate the effect of any enforcement investigation faced.