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FCA investigations: questions answered by our fraud solicitor
16 Mar 2022

So you are a business owner or looking to start a new business, and you have a few questions or concerns about FCA investigations. Maybe you’ve recently been invited to an interview with the FCA, and you’re wondering what the reason is. Before you panic, take a look below to see whether our fraud solicitor can offer any advice.

Here at ABV Solicitors, we’re on your side. With plenty of experience and skills, we can help you with a variety of queries and situations, helping to get you in the best possible position you can be in.

What is an FCA investigation?

The Financial Conduct Authority (FCA) regulates the conduct of many businesses. This doesn’t mean that your business has to be regulated to come into contact with the FCA, as unregulated businesses can be investigated or invited to interviews, too. The FCA can hand out and enforce consequences such as suspension, fines, public announcements, taking away a firm’s authorisation and criminal investigations. Don’t let this worry you, though, as our fraud solicitor is prepared to help you throughout the process.

The FCA may investigate your business for various reasons, including but not limited to finances and regulating competition law. A client or investor might have reported you to the FCA for potential misconduct, but if you believe this to be incorrect, we’re here to help you fight.

What is the process of the investigation?

Just as our fraud solicitor is fully educated on the process of the investigations, we believe it is just as important for you to know what will happen. We’ll explain in brief terms, but we encourage you to get in contact with us prior to the start of your investigation.

The investigation begins with all the parties involved being notified. Then, they will begin a scoping discussion throughout your company and with all individuals connected to the investigation. You will be able to sit down with the investigator and ask as many questions as you need, as well as find out in detail what will happen.

After this, the investigation process will proceed by requesting information, documents and potentially more interviews with witnesses or those within your company. It is important to note that everyone who undergoes an interview is allowed legal representation, which is where our fraud solicitor can come in handy.

Soon enough, the findings from the investigation will be presented, and you will have a time frame to respond through a written document. We can also help with this. A final decision will be made regarding the outcome, where together with our solicitor, we will make a plan and move forward if needed.

How do we help during an investigation?

As mentioned earlier, our fraud solicitor is available to answer any and all of your questions. We have lots of experience in a variety of situations, including the one you might currently find yourself in, and can offer direct advice and suggestions on how to approach it. We have your interests at heart and want to get you the best possible outcome.

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