FCA and PRA search and seizure powers and dawn raids
Produced in partnership with Sara Cody of Linklaters
FCA and PRA search and seizure powers and dawn raids

The following Financial Services practice note Produced in partnership with Sara Cody of Linklaters provides comprehensive and up to date legal information covering:

  • FCA and PRA search and seizure powers and dawn raids
  • Search and seizure—the law
  • Power to apply for warrant
  • Execution of a warrant
  • FCA and PRA rules requiring co-operation and production of information
  • Criminal liability
  • Other powers of search and seizure
  • How to prepare in advance
  • Responding to the execution of a warrant—practical guidance
  • General principles
  • More...

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.

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.

Search and seizure—the law

The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) (together, the Regulators) have powers of entry, search and seizure under warrant. The most important of these, and the focus of this Practice Note, is the power under section 176 of the Financial Services and Markets Act 2000 (FSMA 2000). A selection of the Regulators’ other significant powers of entry, search and seizure with and without a warrant are listed below under Other powers of search and seizure.

This Practice Note considers the Regulators’ powers of search and seizure. It considers

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