Financial Conduct Authority Investigations

An FCA investigation occurs when the Financial Conduct Authority examines whether an individual or firm has breached regulatory requirements under the Financial Services and Markets Act 2000 or related legislation. Investigations may concern market abuse, insider dealing, mis-selling, systems and controls failures, or breaches of the FCA Handbook. 

The FCA has wide enforcement powers. Penalties may include substantial financial fines, public censures, restitution orders, variation or cancellation of permissions, and prohibition orders preventing individuals from performing regulated functions. In serious cases, criminal prosecution may lead to imprisonment. 

Our team provides regulatory defence from the earliest stage, including advice during compelled interviews, management of statutory information requests, preparation of representations and defence in enforcement proceedings. We work to protect your rights, reputation and livelihood. 

Seek specialist legal advice immediately. Do not respond substantively to the FCA or attend interviews without legal representation. Early strategic guidance can significantly influence the direction of the investigation. 

In certain circumstances, the FCA may compel individuals to answer questions under statutory powers. While compelled answers cannot generally be used against you in criminal proceedings except in limited situations, the process is complex. Legal advice is essential before attending any interview. 

Yes. Many FCA matters are resolved through regulatory enforcement, but the FCA has criminal prosecution powers for offences such as insider dealing, misleading statements and certain breaches under FSMA. Conviction can result in fines and imprisonment. 

Yes. Regulatory findings can result in prohibition orders, removal of Senior Manager functions or loss of authorisation. Even without prosecution, reputational damage can have long-term professional consequences. 

Yes. The FCA assesses systems, controls and governance standards. Even where misconduct was not deliberate, failures in compliance frameworks or oversight can result in enforcement action. Evidence of robust procedures and early remedial steps can be important in mitigation.