Winner of the Legal 500 - 'Criminal, Fraud & Licensing Law Firm of the Year 2019'
FCA Investigations, Insider Dealing & Market Abuse
Financial Conduct Authority (FCA) – Investigations & Prosecutions
The Financial Conduct Authority (FCA) regulates the Financial Services Industry. It has wide ranging powers to investigate both regulated and non-regulated organisations and individuals for financial misconduct.
Kangs Solicitors has considerable experience in advising corporate clients, directors, employees and individuals in relation to investigations and prosecutions by the Financial Conduct Authority (FCA).
The firm is ranked in Band 1 nationally by the legal directory Chambers & Partners for its work in the field of financial crime and fraud investigations.
We are ranked in the top tier of criminal fraud firms in the country by the leading legal journals (Chambers UK and Legal 500) and we have the resources, experience and skill to defend the largest Financial Conduct Authority investigations and prosecutions.
We are able to represent clients throughout the country in relation to Financial Conduct Authority (FCA) investigations and prosecutions from our offices in the City of London, Birmingham and Manchester.
The types of cases brought by the Financial Conduct Authority (FCA) that we can assist with include the following:
|Insider dealing||Market abuse & market manipulation|
|Misleading statements||Breaches of the FCA’s Principles
for Businesses & Approved Persons
|Marketing and promotion of
unauthorised investment schemes
|Boiler room fraud|
|Land banking fraud||Carbon credit fraud|
|Boiler Room Fraud||Long Firm Fraud|
|Money laundering||Advance fee fraud|
It is an outstanding firm in defending financial crime cases
Powers of the Financial Conduct Authority (FCA)
Since taking over from the Financial Services Authority (FSA) on 1st April 2013, the Financial Conduct Authority (FCA) has openly confirmed its stated goal of robustly pursuing companies and individuals suspected of misconduct in the financial services industry which in turn has led to increased regulatory and criminal investigations in recent times.
It appears that the ‘light touch’ regulation of previous years has now hardened and been replaced by the more regular use of the Financial Conduct Authority’s criminal investigation and civil enforcement powers.
The Financial Conduct Authority (FCA) has power over all participants in the market and not just those institutions and individuals that are FCA registered and such powers enable it to:
- compel the attendance of individuals at formal Interviews (similar to the powers of the Serious Fraud Office)
- compel organisations and individuals to produce documents
- co-ordinated action with other law enforcement agencies such as the City of London Police, Serious Fraud Office, USA and European financial regulators
- search home and business premises and seize documents, computers, mobile phones and other electronic devices
- conduct interviews under caution
- instigate criminal prosecutions
- serve Restraint Orders freezing the assets of individuals and companies
- impose substantial fines
- impose suspensions
- order injunctions
- issue public announcements of any disciplinary actions against a firm or individual
- issue warning notices (including publication of such notices)
- withdraw authorisation for regulated activity
- instigate Proceeds of Crime Act (POCA) proceedings to remove any criminal property/profit that may have been acquired as a result of the offences.
Particularly active in high value financial fraud cases, with notable expertise in ‘boiler room’ cases
Frequently represents high-profile individuals
Recognised for astute command of financial crime
Renowned for its white-collar crime and fraud practice
Often instructed by senior legal, accounting and financial services professionals
Outstanding financial crime defence practice
More often than not, the superior financial resources of a proposed opponent deters many aggrieved prospective Claimants from pursuing their rights through the civil courts. Stuart Southall of Kangs Solicitors considers the case of Bentley 1962 Limited & Another v...
The Anti-Social Behaviour, Crime and Policing Act 2014 introduced Sexual Risk Orders (‘an Order’) which are controversial to the extent that an Application for an Order can be made even if the subject of the Application has not been convicted or cautioned for a sexual...
The Scrap Metal Dealer Act 2013 (‘the Act’) was enacted to regulate the industry and it creates criminal offences for those individuals and companies failing to comply. Tim Thompson of Kangs Solicitors outlines some of the provisions. The Law | Kangs Scrap Metals...
The law makes provision for anyone subject to a Director Disqualification Order by virtue of a Disqualification Undertaking to apply to the court for its variation or even provide for it to cease to be in force. Tim Thompson of Kangs Solicitors briefly discusses...
Kangs Solicitors has recently successfully acted for a client seeking the release of funds, which had been made the subject of an Account Freezing Order (‘AFO’), and which the Crown was seeking to forfeit. Tim Thompson of Kangs Solicitors explains the circumstances....
Our approach to FCA cases
It can be a difficult time for a business or an individual when faced with a Financial Conduct Authority (FCA) investigation and we can assist in a number of ways:
1. Dawn Raids – if the Financial Conduct Authority (FCA) attend at your business or home premises unannounced, we operate a 24/7 service via our Rapid Response Number 07989 521210. We can attend your premises at short notice whilst the officers are present searching and uplifting material. We can ensure that during this stage of the investigation your rights are protected and that the officers do not exceed their powers.
2. Alternatively, if you have received advance notice from the Financial Conduct Authority (FCA) that they wish to interview you or you have received a formal request for documentation to be delivered up to the FCA, we can liaise with the FCA on your behalf and make arrangements to comply with any such requests and attend any interview (whether voluntary or compulsory) with you.
3. We can provide you with initial advice on the commencement of a Financial Conduct Authority (FCA) investigation and formulate a defence strategy for any interviews under caution that personnel from the company may be required to attend.
4. We can attend with you while you are being interviewed under caution by the Financial Conduct Authority (FCA) or by police officers. It is important not to attend the interview without legal representation as we can protect your interests during the interview as well as have an on-going dialogue with the investigating officers in an effort to persuade them not to treat the matter as a criminal one. The Financial Conduct Authority (FCA) has other civil remedies available to it and an experienced solicitor will look to explore those options with the Financial Conduct Authority (FCA).We are acutely aware of the potential reputational damage to a business as a result of the investigation turning into a criminal prosecution and which can be openly reported in the media. Our aim is to move quickly and effectively in order to minimise such impact and secure an early resolution to the issues.
5. We can assist you to deal with any search warrants that the Financial Conduct Authority (FCA) may have served on you or your business.
6. We can advise and deal with any Restraint Order or Freezing Order that may have been served by the Financial Conduct Authority (FCA).
7. If criminal proceedings are instigated, we have considerable experience representing clients in the Crown Court. We have close working relationships with the leading barristers working in this field of criminal fraud law and we will ensure that the best possible representation is secured for you.
8. Prosecutions brought by the Financial Conduct Authority (FCA) are usually complex and often involve a significant international dimension including overseas markets/regulators/authorities. We have considerable experience of dealing with multi-jurisdictional cases and are widely recognised for this experience:
9. If the criminal proceedings are followed by Proceeds of Crime Act (POCA) proceedings, our specialist and highly regarded Confiscation/Proceeds of Crime Team will be able to assist you. This is a highly specialist area of law and only experienced advice will be able to help you understand the complicated confiscation regime. Due to our experience in dealing with hundreds of such cases we will be able to guide you with a view to securing the best possible outcome to these proceedings.
Early expert advice and assistance is usually imperative in Financial Conduct Authority (FCA) investigations in order to protect the business and individuals from the outset. This is particularly important considering that offences of this type, if proven, can result in extremely heavy fines, significant reputational damage and custodial sentences.
At Kangs Solicitors we can assist with such matters and ensure that the appropriate defence strategy is adopted in each case.
We welcome new enquiries by telephone or email and we are happy to provide an initial no obligation consultation to explore the issues in your case and to provide an assessment of how we can assist you.
2 Wake Green Road, Moseley
Birmingham, B13 9EZ
0121 449 9888
9 Carmelite Street,
London, EC4Y 0DR
020 7936 6396
76 King Street
Manchester, M2 4NH