The following Financial Services practice note Produced in partnership with Brown Rudnick LLP provides comprehensive and up to date legal information covering:
Financial regulators (the regulators) (ie the Financial Conduct Authority (FCA) (previously the Financial Services Authority (FSA)) and the Prudential Regulation Authority (PRA) seek information and documents from those who they regulate (firms/approved persons) as part of the ongoing regulatory relationship. The regulators use the information to monitor the business of firms on an ongoing basis. This information is usually provided on a voluntary basis without the exercise of formal powers by the regulator.
The regulators can exercise a number of statutory powers against firms and individuals to require the production of documents and the provision of information without launching an investigation. Regulators can appoint investigators in certain specified circumstances. Investigators can exercise a number of more intrusive statutory powers to require certain people (both regulated and non-regulated) to attend to answer questions and to produce information and documents. The regulators and investigators exercise their statutory powers by issuing statutory requirements which compel the subject to comply under the force of law (a statutory requirement).
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
Fraud by false representationFraud by false representation applies to a broader range of conduct than the offences under the preceding legislation (the Theft Act 1968 (TA 1968)). No gain or loss need actually be made, and no deception need operate on the mind of the deceived for the Fraud Act 2006
ContractWhere a contract is made by two or more parties it may contain a promise or obligation made by two or more of those parties. Any such promise may be:•joint•several, or•joint and severalWhether an undertaking is joint, several, or joint and several in contract is a question of construction
There may be times when, rather than assigning the benefit of an agreement to a third party, the original parties wish instead to end their obligations to each other under that agreement and, in effect, recreate it, with the third party stepping into the shoes of one of the original parties. This is
Company directors are not, by virtue only of their office as director, automatically entitled under company law to remuneration for services as a director or to reimbursement of expenses incurred in rendering such services. Power to pay directors remuneration for their services will need to be
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.