FCA Enforcement Notice

If you or your firm have been subject to an investigation from the Financial Conduct Authority (FCA) for any reason, you will receive an initial enforcement notice to make improvements. Once you have received the Enforcement Notice for the FCA, it is in your best interests to get in touch with a solicitor at your earliest convenience and we will deal with your case throughout the entire legal process. We are available to represent you anywhere within the country and can instruct tax advisors and forensic accountants if needed. 

Free Initial Telephone Consultation

Our highly skilled Regulatory & Fraud team are here to take the worry off your hands. We can provide an initial telephone consultation to see how we can assist in your case. For more information, please call us on 0808 168 5550 or email info@cartwrightking.co.uk.

Who is the Financial Conduct Authority (FCA)?

The Financial Conduct Authority is an independent, government enforced financial regulatory body in the United Kingdom and was founded in 2013. The FCA’s sole responsibility is to regulate financial firms by providing its services to consumers while ensuring that the overall standards of the UK’s financial markets are maintained. More specifically, the FCA focuses on the conduct of retail and wholesale financial services firms.        

If certain standards are not met then the FCA have the authority to investigate both organisations and individuals. Once the investigation has took place, they have the power to order firms to retract or modify promotions which are deemed to be misleading and ban financial products for up to a year and potentially indefinitely.     

What is an FCA Enforcement Notice?

If you or your respective firm has been accused of not adhering to the standards set by the FCA, they will send through an Enforcement Notice to outline any sanctions that you must make. If these improvements are not met, then the FCA has the authority to conduct an investigation against you and take matters further. This can essentially lead to serious consequences including fines, compensation payments and even leading to your firm having to cease trading for the foreseeable future. 

If the FCA has concerns about your past or current trading, they will most likely ask for a report from a skilled external company. This is often referred to as a Skilled Persons Report (or Section 166 report). At Cartwright King, we have the expertise to conduct this report to show the positive face of your firm. However, to avoid further investigation and to reputable damage, it is essential that you work with us and be seen as active in making any improvements to adhere to the FCA’s standards. 

What authority does the FCA have?

Throughout the proceedings of the investigation, the FCA can put various restraints on you which include:
•    Bring criminal prosecutions against you
•    Fine you or your firm for breaching FCA rules
•    Seek compensation for your customers
•    Impose public censure
•    Request information from your company
•    Question you during an interview
•    Suspend you and/or your company from continuing trade

What if one of your employees has ‘blown the whistle’?

According to the Public Interest Disclosure Act 1998, whistleblowing is when an employee has genuine reason to believe that their employer is taking part in any wrong doing and chooses to approach the hierarchy of the respective company or an external regulatory body. The reasoning for someone to take part in ‘whistleblowing’ can vary, but some of the most common reasons include offences such as:

•    Criminal offences
•    Dangers to health and safety of employees
•    A miscarriage of justice
•    A breach of contract
•    A deliberate attempt to conceal any wrongdoing

Once the employee has made the accusation, they are legally entitled to protection, whereby they cannot be unfairly dismissed or in any way victimised as a result of their claim. Actions including dismissal, formal disciplinary, demotion, setting unreasonable targets and being ignored would be considered an unfair response from the employer. 

Most of these accusations are usually legitimate concerns from the employee; however it is not uncommon for someone to ‘blow the whistle’ for their own persona; reasons i.e. felt that they were dismissed/disciplined unfairly. If you feel that is the case, our regulatory team are available to advise you throughout the legal process and put your side of the argument across if necessary.


How we can help

We acknowledge that mistakes can be made within any firm and that you have a right to make improvements without being penalised. If you or your company have been accused of not adhering to the required standards, we are available to support and advise you throughout the entire process of the enforcement period. We therefore promise to:

•    Advise you throughout the entire process
•    Create and submit a Section 166 report to the FCA
•    Take the worry off your hands
•    Argue your case
•    Prepare an appeal if necessary

Given the broad area of law surrounding FCA investigations, we will ensure to deal with your case by finding all of the facts and circumstances. 

Our team are highly ranked in the Legal 500 and Chambers and Partners guides. We have extensive experience in successfully defending businesses and individuals accused of fraud.

Why Choose Us?

At Cartwright King, our solicitors understand the stress and worry any investigation enforced by the FCA can cause and the potential long term consequences that can affect you, your business and your family life. We are available to support you throughout the entire process, explain the likely outcomes and fight on your behalf.

How to make contact

If you require any legal advice or if you would like a no obligation, free initial telephone discussion, then please call us on 0808 168 5550. Alternatively you can email the team on info@cartwrightking.co.uk and we’ll get back to you as soon as possible.

Our Regulatory & Fraud Solicitors can provide advice across the country and are happy to meet at a time and location that suits you. We also have a network of offices in BirminghamBedfordBoltonDerbyLeedsLeicesterLondon TempleLondon Fleet StreetLutonManchesterMiddlesbroughMilton KeynesNewcastleNorthamptonNottinghamOxfordSheffield and Worcester.

For further information please get in touch with our dedicated team.

You can always call us on 0808 168 5550 or email info@cartwrightking.co.uk


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