Criminal Litigation

FSA Financial regulatory Enforcement and Criminal Investigation

The complexities of financial regulation and investigation can ensnare even the most cautious.  The Financial Services Authority (FSA) has jurisdiction to investigate individuals and companies whether they are working in the regulated sector or not. The potential consequences of an adverse finding or criminal proceedings are devastating. Our solicitors are adept at representing clients throughout regulatory and criminal investigations conducted by the FSA's enforcement division. We have experience of representing individuals and businesses in FSA investigations for offences including market abuse, market misconduct, insider dealing and breaches of the FSA's principles for business and approved persons.

The framework created by the Financial Services and Markets Act means that intelligent and tactical representation is crucial.  We provide strategic advice, in circumstances where there is often a complex dynamic between dealing with the FSA exercising its criminal prosecution or regulatory enforcement powers and employment issues, including advice on employers' internal investigations.  We have represented individuals and companies from all aspects of the financial and commercial world including leading hedge fund managers, traders, senior corporate management, independent financial advisers, mortgage brokers, investors and company advisers.

There is a trend for the FSA to obtain information for or share information with overseas regulators or investigators.  This may be through information-sharing gateways or more formal mutual legal assistance procedures.  Our team is experienced in dealing with financial investigations which have an overseas or multi-jurisdictional aspect.

Primary contact  Stephen Pollard

Notable cases

• Acted for a hedge fund manager in a leading FSA investigation and FSMT hearings
• Acted for an individual from AIT in the FSA's first criminal prosecution under section 397 FSMA 2000 for misleading the market
• Represented traders in regulatory and criminal investigations by several jurisdictions concerning allegations of market misconduct
• Acted for the main defendant in one of the first major insider dealing prosecutions brought by the Crown Prosecution Service