Dealing with the FCA—informal requests for information
Produced in partnership with Sarah Clarke of Hardwicke Chambers
Dealing with the FCA—informal requests for information

The following Financial Services practice note Produced in partnership with Sarah Clarke of Hardwicke Chambers provides comprehensive and up to date legal information covering:

  • Dealing with the FCA—informal requests for information
  • Interviews with suspects in criminal or market abuse investigations
  • Voluntary interviews with non-suspects
  • Subsequent interviews
  • Witness statements
  • Internal investigation report provided voluntarily by the firm

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime.

Lexis®PSL Financial Services FCA/PRA Enforcement Database: This incorporates detailed information on all substantive FCA and PRA Final Notices and, where available, Decision Notices from 2014 to 2020. The Database, available here, may be searched and filtered by rule breach, keyword, sector, date, seriousness, aggravating and mitigating factors, financial penalty, and other actions such as appeals.

The Financial Conduct Authority (FCA) has various powers (see sections 97, 131E, 131F, 165–169, 171–173, 175, 176 and 284 of the Financial Services and Markets Act 2000 (FSMA 2000)) to gather information, appoint investigators, and require the production of a skilled persons report (FSMA 2000, s 166). In any given situation, the FCA decides which combination of these powers is most appropriate to use. For reasons of fairness, transparency and efficiency, as set out in Practice Note: FCA enforcement essentials—investigations—Powers of FCA investigators under FSMA 2000, the FCA will usually use its formal statutory

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