Contentious Regulatory

Advising on whether a notification obligation has arisen, the content of any notification and next steps.

Helping firms manage a Skilled Person review, including advising on document gathering, preparing individuals for interview and privilege issues.

We advise firms where they face a proposed voluntary requirement or a requirement has been imposed by the regulator using own initiative powers.

We can provide the level of support you need including advising on the scope of an internal investigation to diagnose how and why a particular issue arose, putting in place a governance framework to protect privilege issues and disciplinary matters.  Where an investigation has arisen as a result of a whistleblower notification, we advise on the overlapping regulatory, employment and other considerations which arise.

We advise on navigating the process of a regulator led investigation (such as investigations by the FCA, PRA and Ofgem).  We are alive to the need for early and constructive engagement with the regulator and draw on deep experience of advising both firms and individuals.  During the course of the investigation, we are mindful of the need to seek to manage future risks including potential third-party litigation and reputational concerns.

Where it has not been possible to avoid enforcement action, we advise on defending formal enforcement proceedings, such as representations to the FCA’s Regulatory Decision Committee, Upper Tribunal and other regulatory bodies.

Where regulatory intervention gives rise to a published outcome, we anticipate and advise on third party litigation which may flow from that outcome.

We can advise on remediation steps such as improvements to your systems and controls.

In the event of a dawn raid or unannounced visit, a regulator or other law enforcement body arrives on the firm’s premises without warning (although usually within business hours).  This is likely to be the first time a firm becomes aware of possible criminal or other potential exposure. It is important that firms are prepared in advance of dawn raids and/or unannounced visits by the FCA, PRA, CMA, SFO and other law enforcement bodies where criminal conduct or other serious misconduct is suspected.  We can help put in place clear procedures for responding to a dawn raid/unannounced visits or update existing procedures.  In addition, we can support firms to navigate dawn raids/unannounced visits as they unfold on the day.  For example, we can ensure the regulator or law enforcement body acts within their powers and take steps to protect the firm’s privileged materials.

The FCA and PRA have powers to conduct unannounced visits to firm premises, albeit these are rare. We can help put in place clear procedures for responding to unannounced visits or update existing procedures.  In addition, we can support firms to navigate unannounced visits as they unfold during the course of the raid or visit, including to ensure the regulator or law enforcement body acts within their powers and taking steps to protect the firm’s privileged materials.

We have significant experience acting as supervising solicitors in the execution of search orders in commercial disputes, most commonly involving fraud, data misuse or theft of confidential information. Trusted for our independence and practical understanding of the typical issues which arise during the execution of a search order, our supervising solicitors have the experience to ensure an order is lawfully executed and the rights of the parties involved are upheld.