Leading Specialist FCA Prosecution Defence Lawyers
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:
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:
• 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.