FCA Supervision and Intervention

We provide pragmatic and tactical advice to regulated firms and their Senior Managers on their on-going regulatory obligations as authorised persons and can respond quickly to the use of intervention powers by the FCA.

Following the Gloster report, and the appointment of a new executive team in 2020, there can be little doubt that the FCA is seeking to become a more proactive and assertive regulator that scrutinises firms and individuals much more closely than ever before and is prepared to accept greater legal risk in taking aggressive action against them.

A wide ranging Transformation programme has allowed the FCA to identify non-compliance with rules and to detect potential consumer detriment more quickly and easily. The FCA has a suite of tools at its disposal for mitigating these harms, including the ability to unilaterally remove a firm’s permissions and/or to impose requirements, which can include the freezing of assets and the imposition of wide ranging restrictions on a firm’s regulated and unregulated activities. Such actions can have a devastating impact on firms and their clients and it is essential that regulated persons receive fast and effective advice to protect their interests and minimise disruption to their business.

We are highly experienced in advising firms and individuals on FCA supervisory issues and engaging with the regulator, including on enquiries, formal information requirements, and the use of statutory intervention powers imposed through First Supervisory Notices.

If you or your firm requires assistance on dealing with the FCA or has been served with a First Supervisory Notice, contact us as soon as possible for assistance.

How we can help

  • We advise on how best to respond to FCA enquiries and information requests and can engage with FCA supervision on your behalf.
  • We can attend your premises when the FCA conducts visits, either without notice or with notice, and can ensure that these are conducted appropriately and lawfully.
  • We can assist with the process of skilled person appointment and can oversee the conduct of any such reviews.
  • We can advise you on your obligations under the FCA’s Principles for Businesses and Handbook rules.
  • We can advise individuals on their obligations as certified persons or Senior Managers.
  • We can assist where the FCA has suggested you apply for a voluntary requirement to be imposed on your regulatory permission, including on the scope and consequences of such requirements as well as on alternative solutions.
  • We can advise you following the issuance of a First Supervisory Notice and can challenge these on your behalf, including to the FCA and / or Upper Tribunal.
  • We can advise you on how to minimise the risk of you or your firm being referred to Enforcement, and where matters do proceed for investigation, we can provide a seamless service in guiding you through the investigative process.

  

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