Financial Advisers (Firms & Individuals)

We handle cases where independent financial advisers are being investigated by their regulatory body, the Financial Conduct Authority (FCA), and in some cases by the Prudential Regulation Authority (PRA).

The FCA Regulatory Process

Cases being considered for enforcement action are assessed against certain criteria. Any decision to formally investigate is taken by the FCA's supervisory and enforcement divisions. Investigators are then appointed, and the firms and/or individuals are then notified of the investigation.

Where investigators determine that there is a case to answer and the case is not settled via executive settlement, then the matter is referred up to the Regulatory Decisions Committee (RDC).

If the RDC determines it is appropriate, it will send out a Warning Notice informing the firm or individual of the action they propose to take and why. At this stage, the firm or individual can make written representations to the RDC, and verbal representations at a meeting. The firm or individual also have the right to see the material relied upon by the RDC.

After completing its enquiries, the RDC then issues a Decision Notice which sets out the reasons for the action they have decided to take. Should the firm or individual not contest the matter, then this is followed by a Final Notice which sets out the action that will be taken. Nevertheless, should the firm or individual decide to contest the decision of the RDC, then they may refer the matter to the Upper Tribunal (Tax and Chancery Chamber). The Tribunal will consider the matter and normally reaches a decision following an oral hearing

Internal Disciplinary Proceedings

We also assist and represent financial advisers where they are the subject of internal disciplinary proceedings by their employer​

What To Do If Regulatory Proceedings Are Commenced Against You

Should internal disciplinary proceedings or FCA or PRA regulatory proceedings be commenced against you, then please either telephone us on 0333 301 0700, or complete the questionnaire on the top right hand side of this page.

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