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.
Why Choose Us?
Kangs Solicitors has considerable experience in advising corporate bodies, company directors, employees and individuals in relation to investigations and prosecutions by the FCA.
The firm is ranked in Band 1 nationally by the legal directory Chambers & Partners for its work in financial crime and fraud investigations.
Our expertise in this area is further recognised as we are ranked in the top tier of criminal fraud firms in the country by both leading legal directories Chambers UK and the Legal 500.
We have a proven track record of representing clients in the largest and most complex FCA investigations and take pride in utilising our resources, expertise and experience for the benefit of our clients.
We represent clients throughout the country in relation to FCA investigations and prosecutions and have the benefit of a national network of offices including the City of London, Birmingham and Manchester.
Particularly active in high value financial fraud cases, with notable expertise in ‘boiler room’ cases
What Are The Types of Investigations?
The types of cases brought by the 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 |
| Marketing and promotion of unauthorised investment schemes |
Boiler room fraud |
| Land banking fraud | Carbon credit fraud |
| Breaches of the FCA Principles for Approved Persons | Long Firm Fraud |
| Money laundering | Advance fee fraud |
Powers of the FCA
Since taking over from the Financial Services Authority on 1st April 2013, the FCA has confirmed its stated goal of robustly pursuing companies and individuals suspected of misconduct in the financial services industry which, in turn, has led to an increase in regulatory and criminal investigations.
It appears that the ‘light touch’ regulation of previous years has now hardened and been replaced by the more regular use of the FCA’s criminal investigation and civil enforcement powers.
The FCA has power over all participants in the market and not just those institutions and individuals that are FCA registered.
The powers of the FCA 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-ordinate 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 under the Proceeds of Crime Act (‘POCA’)
- 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 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
It is an outstanding firm in defending financial crime 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
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How Can We Help?
It can be a difficult time for a business or an individual when faced with a FCA investigation and we can assist in a number of ways:
Dawn Raids
- If the FCA attend at your business or home premises unannounced, our 24 Hour Rapid Response Team are available 24/7 on telephone 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 of search and seizure.
Advance Notice
- Alternatively, if you have received advance notice from the FCA that it requires you to attend an interview or requires you to deliver up documentation, we can liaise with the FCA on your behalf.
- We will ensure that:
- any requests from the FCA are appropriate and proportionate,
- any proper requests for information and documentation are complied with,
- you are provided with advice and assistance at any voluntary or compulsory interview.
Defence Strategy
- We can provide you with initial advice on the commencement of a FCA investigation and formulate a defence strategy for any interview under caution that you or other personnel from your company may be required to attend.
Interview Under Caution
- We can represent you or any other company personnel while you are being interviewed under caution by the FCA or by police officers.
- It is important not to attend an interview without legal representation as we can protect your interests during the interview.
- In addition, we will look to develop a dialogue with the investigating officer with a view to seeking a non-criminal outcome.
Civil Remedies
- The FCA has other civil remedies available to it and we are experienced in pursuing and exploring such options with the FCA.
Reputation Management
- We are acutely aware of the potential reputational damage to a business as a result of the investigation turning into a criminal prosecution.
- A criminal prosecution can usually 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 in the case.
Search Warrants
- We can assist and advise you in relation to any search warrants that the FCA may have served on you or your business.
- Our experience extends to advising on the validity of the search warrant as well as the legality of the search of premises conducted by the FCA.
- There are a number of potential challenges to the initial grant of the search warrant as well as to its execution which requires specialist advice and guidance which we are able to provide to our clients.
Restraint Orders | Freezing Orders
- Often the FCA will serve a Financial Restraint Order or Freezing Order on the business or individuals, or both, at the time of the initial dawn raid.
- We have a specialist Restraint Team who can advise and assist you deal with the Restraint Order. It is imperative to act early to prevent lasting financial and reputational damage to your business.
Criminal Proceedings
- In the unfortunate event that criminal proceedings are instigated, we have considerable experience representing both corporate and individual clients in Crown Court proceedings.
- We have close working relationships with the leading defence barristers, including QCs working in this field of criminal fraud law and we will ensure that the best possible representation is secured for you.
Multi-Jurisdictional Cases
- Prosecutions brought by the FCA are usually complex and often involve a significant international dimension including overseas markets, regulators and authorities.
- We have considerable experience of dealing with multi-jurisdictional cases and are widely recognised for our expertise in this area.
Proceeds of Crime Act
- If the criminal proceedings are followed by POCA proceedings, our specialist and highly regarded POCA Team will be able to assist you.
- This is a highly specialist area of law and only advice from experts will help you understand the complicated confiscation regime.
- Due to our experience arising from handling many such cases, including a number which have been high profile and widely publicised, we will be able to guide you through the process with a view to securing the best possible outcome for you.
Who Can I Contact For Help?
In our experience, early expert advice and assistance is usually imperative in FCA investigations in order to protect the business and individuals from the outset.
This is particularly important given 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.
Initial consultations can be conducted by meeting at any of our three offices (London, Birmingham and Manchester), by telephone or by video conferencing.
Birmingham
2 Wake Green Road, Moseley
Birmingham, B13 9EZ
0121 449 9888
London
9 Carmelite Street,
London, EC4Y 0DR
020 7936 6396
Manchester
76 King Street
Manchester, M2 4NH