Senior Managers Regime – the FCA predicts more enforcement litigation in the new regime
With a proven track record in litigation and regulation, and a wealth of experience representing those accused of insider dealing, we are uniquely placed to advise in relation to such investigations and prosecutions.
We are experienced in representing individuals who have become embroiled in insider dealing investigations, whether they come from the world of finance, business or have become caught up in an investigation through personal trading, spread betting or other non-commercial trading activity.
Insider dealing covers allegations of dealing whilst in possession of inside information, encouraging others to deal in such circumstances and disclosure of information other than in the proper performance of one’s employment. The Financial Conduct Authority (FCA) is the main agency responsible for taking criminal or regulatory enforcement action against those accused of these offences.
The FCA is stepping up the fight against insider dealing with increased resources for detection and enforcement. They are taking on increasingly complex investigations and prosecutions, often in co-operation with overseas authorities. They use the full range of their criminal powers including conducting dawn raids, interviewing suspects in detention at police stations, restraining accounts worldwide and extraditing suspects.
Insider dealing criminal and regulatory proceedings can be brought against anyone – you do not have to work in the financial sector or even need to be a professional trader. The person who discloses the confidential information may do so to a friend, colleague or loved one without any intention for trading to occur. Increasingly insider dealing investigations focus on spread betting.
We understand insider dealing accusations and investigations, in particular the dynamic between criminal and civil investigations and the particular difficulties of those who work in the regulated sectors (whether financial or something else). Sometimes cases involve complex financial transactions, where we work in conjunction with others where necessary, including experts, accountants and foreign lawyers.
The first an individual may know of an insider dealing allegation is when they are arrested and interviewed in a police station, subject to search warrants or have their funds frozen by a restraint order. Our lawyers provide strategic and pragmatic advice in financial regulatory and criminal investigations, in circumstances where there is often a complex dynamic between dealing with the FCA and/or overseas authorities and professional regulatory or employment issues.
Our unique combination of expertise in criminal, regulatory and employment investigations enables us to give clear and pragmatic advice in often stressful circumstances.
Partner and Head of Department
Professional Support Lawyer
...'Widely regarded as a go-to team for contentious financial services matters involving a criminal litigation element. Excels at representing individuals and corporates in FSA and SFO investigations'...
Chambers UK, A Client's Guide to the UK Legal Profession, 2014
...'The team has vast experience... advising individuals who are under investigation by international agencies'...
Chambers UK, A Client's Guide to the UK Legal Profession, 2013
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