Julie Matheson

Julie Matheson is a partner in the Regulatory Team. Her expertise lies in advising professionals and professional services firms, particularly in the accountancy, audit and built environment sectors, on regulatory compliance, investigations and enforcement proceedings.

Julie assists clients with a range of regulatory issues, ranging from non-contentious advice on compliance with a regulator’s rules and procedures, to defending clients subject to regulatory investigations and prosecutions. She has particular expertise in advising auditors and audit firms in proceedings brought under the Financial Reporting Council’s) (“FRC”) Audit Enforcement Procedure (“AEP”), accountants and accountancy firms in respect of issues with their regulation by the FRC, ICAEW, ACCA, CIPFA or CIMA; insolvency practitioners in respect of IPA or ICAEW interventions; and built environment professionals and firms in relation to issues with professional bodies including RICS and ARMA. She has been described by the legal directories as:

“incredibly impressive”; “knowledgeable about complex financial regulatory issues”, and “personable, incisive and knows the factual area and legislation back to front”.

Julie gained her experience in representing regulatory bodies, for example the FRC, the IFoA and the HCPC, which provides her with a unique insight into a regulator’s mindset.  This allows her understand the approach of the regulator, and to evaluate appropriate tactics and strategy when defending cases, with a view to achieving the best possible outcome for her client.

She also has significant experience in advising on and running internal and statutory investigations and reviews. She represented the FCA in the Davis Inquiry, a wide-scale inquiry into the way in which the FCA handled the launch of its 2014/ 2015 business plan, and the Connaught Review, which considered the FSA and FCA’s actions in regulating entitles linked to the Connaught funds. 

Julie has been described as a “magnificent as a lawyer and an exceptional individual for support through very difficult circumstances”.

Recent notable cases

• Advising a mid-tier accountancy firm in FRC disciplinary proceedings under its Audit Enforcement Procedure in relation to the audit of a well-known high street retail brand.
• Advising a senior accountant in FRC disciplinary proceedings under its Accountancy Scheme in respect of the collapse of a high-profile listed company.
• Advising a silver-circle firm on proceedings brought by an overseas equivalent of the FRC.
• Acting for a client under investigation by the FRC pursuant to its Audit Enforcement Procedure relating to the audit of a listed company dating back to 2016/2017.
• Acting for a firm of surveyors in proceedings brought by RICS in respect of a criminal prosecution.
• Advising a senior finance officer (s.151 officer) in relation to a potential Public Interest Report.
• Representing several audit firms on proceedings brought under the ICAEW’s or ACCA’s Disciplinary bye-laws in relation to failings identified in the ICAEW’s QAD visit or the ACCA’s PMD visit.
• Advising a firm of Insolvency Practitioners on proceedings brought by the ICAEW in respect of several alleged breaches of its regulations.
• Advising an ICAEW registered accountant in FRC proceedings involving international regulators, including the SEC.
• Advising Chief Financial Officers in proceedings brought by CIPFA.
• Advising accountants and firms on disciplinary proceedings due to the carrying on of public practice without a practising certificate.
• Providing advice to a CIMA member in proceedings brought before CIMA’s Disciplinary Committee.
• Providing advice to an ICAEW regulated audit firm in relation to proceedings brought before ICAEW’s Audit Committee, including its requirement to conduct hot and cold file reviews.
• Advising ACCA registered audit firms on proceedings brought by the Admissions and Licensing Committee of the ACCA.
• Leading a team of lawyers in providing advice to the FCA in the Davis Inquiry and the Connaught Review.
• Advising doctors in disciplinary proceedings.
• Advising the IFoA on its disciplinary matters, conducting complex investigations including interviews with its member and conducting advocacy at Disciplinary Tribunal Panel hearings.

 

what clients and directories have said

Her key strengths are her understanding of the whole regulatory process and her ability to provide objective and sound advice."

Chambers UK 2021, A Client's Guide to the UK Legal Profession 

Julie in an expert in financial services work."

Legal 500 UK 2021 

supremely bright’ and ‘both personable and robust’ 

Chambers UK, A Clients Guide to the UK Legal Profession,  2020

The "incredibly impressive" Julie Matheson receives praise from market commentators who say she is "personable, incisive and knows the factual area and legislation back to front.”

Chambers UK, A Clients Guide to the UK Legal Profession,  2017

‘knowledgeable about complex financial regulatory issues’.

Legal 500 UK 2017

“I truly believe that having Julie Matheson represent me gave us the edge that we required to get the unbelievable result we did. She is magnificent as a lawyer and an exceptional individual for support through very difficult circumstances. Both myself and my wife are indebted to her."

A registered professional

 

Julie and Michelle have been outstanding in dealing with my case.  They both understood the technical aspects of it well, which allowed them to give me the best legal and strategic advice

FCA regulated banker in FX sales

able to get to grips with technical issues quickly and is then able to present them in lay terms, which is a valued skill.

Chambers UK, A Clients Guide to the UK Legal Profession,  2016

...truly believe that having Julie Matheson represent me gave us the edge that we required to get the unbelievable result we did. She is magnificent as a lawyer and an exceptional individual for support through very difficult circumstances. Both myself and my wife are indebted to her.

AF – Registered dentist       

Julie has twice constructed and presented training for the Disciplinary Pool of the Institute and Faculty of Actuaries, which involved drafting a complex case study and filming a mock disciplinary tribunal to provide delegates with guidance on law and procedure in a disciplinary tribunal setting. Feedback included:

"Thank you for organising such a successful and stimulating training event. I thought the case study was quite the best I have ever read and used"

“The training we received was perfectly tailored to our needs.  It kept a diverse team engaged, we learned a great deal and it was a perfect mix of learning and active practice.  Julie’s vast experience in disciplinary hearings also meant we could draw fresh ideas from current experience”.

 

Professional societies and Memberships

• Law Society of Scotland
• Law Society of England and Wales
• Deputy Chair of the Human Fertilisation and Embryology Authority Appeals Committee
• Member of the Association of Regulatory and Disciplinary Lawyers (ARDL)