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Understanding FCA Prosecutions
The FCA is the regulator for financial services firms and financial markets in the UK. Their purpose is defined by the Financial Services and Markets Act 2000 (FSMA).
When the FCA considers that firms or individuals have not complied with the rules or breached their standards, then the Enforcement division of the FCA has wide-ranging powers in order to take action.
In fact, the FCA has multiple divisions, such as:
• Enforcement
• Authorisation
• Supervision
• Strategy
• Competition
FCA Compliance Prosecution Actions
The post-prosecution action that the FCA may take if they consider there has been a breach of compliance or an offence is wide-ranging, and includes:
• withdrawing a firm’s authorisation to trade
• prohibiting or suspension from future regulated activities
• deactivation of websites and associated digital entities
They can also make court applications for:
• injunctions
• restitution orders
• insolvency and winding-up orders
• criminal Prosecutions / proceedings
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FCA Criminal Prosecution for Serious Financial Crime
If the FCA start criminal Prosecutions, the potential penalty can be imprisonment and confiscation of assets.
Arguably therefore, this is the most serious action the FCA can take, and it is critical to select experienced and expert battle-hardened Lawyers to robustly defend you.
Some of the criminal offences that the FCA can pursue are listed under FSMA 2000 and the Financial Services Act 2012 (FSA 2012).
These are used in order to tackle serious financial crime.
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– Prohibition from carrying on regulated activity when not authorised or claiming to be exempt
– Making false claims to be authorised or exempt
– Contravening restrictions on financial promotions
– Contravening release of assets by a trustee without permission of FCA.
– Contravening any Prohibition Order.
– Falsification, concealment, destruction or disposal of documents relevant to an Prosecution or providing misleading information or material.
– Failure to comply with statutory requirements relating to the control of authorised persons.
– False claims to be person to whom prohibition does not apply or behaving/holding oneself out to be a person to whom prohibition does not apply.
– Failure to notify FCA of a meeting to wind up an insurer.
– Misleading the FC
Are you Facing FCA Prosecution for a None-Compliance Allegation?
Our specialist expert criminal & civil FCA defence lawyers are ready to protect your interest. If you need one of the best legal team to defend you against FCA prosecution, our specialist expert FCA defence lawyers, based in London but with national and international reach, are here for you.
For a free initial criminal case consultation & review from a law firm renowned for its proven track record of successful outcomes defending against FCA prosecution charges, for both individuals and companies, call us now on 0207 353 1990 or submit the form on this page.
Click here for further information about our top-rated FCA Investigation Defence Against Prosecutions Solicitor Team.
• Find out more about Bark & Co – Criminal Fraud Defence Solicitors
