What to Do When You’re Being Investigated by the Financial Conduct Authority (FCA)

If you’ve recently been given the news that you’re being investigated by the Financial Conduct Authority (FCA), you’re probably under a fair amount of stress at the moment.

lawyer at their desk

Panicking and assuming the worst at this stage is completely normal and understandable.

After all, being accused of any form of fraud or white-collar crime which the FCA usually deals with can be a huge blow to one’s reputation, not to mention the potential legal and financial consequences.

Here are some steps you can take to improve your chances of overcoming this obstacle:

1. Contact Solicitors Who Specialise in FCA Investigations

If you’re being represented by a solicitor who has never represented any clients in FCA investigations, you’ll be at a significant disadvantage going forward.

On the other hand, by seeking out a solicitor who has plenty of experience with these kinds of cases, you will ensure that you’re in the best position to have a robust and effective defence built on your behalf.

While each investigation will vary depending on the details of the case, having a lawyer who is familiar with the overall process is a major advantage that you’ll want to have.

2. Make Sure Your Books Are in Order

If you haven’t been staying on top of your personal or business financial records, you could have a very hard time mounting any sort of reliable defence. Fortunately, there might be some steps you can take to get your books caught up in retrospect.

The investigator assigned to your case will most likely request some information from you or your lawyer at some point, so it’s best to go ahead and start gathering any documentation that could work in your favour.

If you’re one of the business owners or individuals who actually practices thorough record-keeping, you should rejoice because your chances of coming out on top will be greatly improved.

3. Start Preparing the Foundation of Your Defence

While it will be up to your attorney to fully mount your official defence and file the appropriate motions and documents to legitimise everything, you can start paving a path for them by putting together a rough draft of your defence.

Even if you’re only able to think of an angle or approach that would help, any input and guidance you can provide during the initial consultation with your lawyer will help your chances of expediting the defence development stage.

The faster you and your lawyer can come up with a solid defence, the sooner you’ll have a preliminary case prognosis.

Don’t Publish a Public Statement Regarding Your Case In closing, it’s best that you refrain from making any comments to any source that could wind up making that information public.

That includes posting status updates on social media related to your cases, writing blog posts on the subject, or making short video clips about it.

Likewise, do not write any lengthy letters to any authoritative figures or other parties in an attempt to start defending yourself before your court date.

Keep in mind that even a single slip or error could have severe repercussions when you’re facing an FCA investigation.