The Financial Conduct Authority explained admin@abvso l i c i to r s . co .uk ABV Solicitors I f you have ever read a news art ic le regarding fraud in the UK, you would have undoubtedly come across the F inancia l Conduct Author i ty or FCA. The FCA i s essent ia l in UK Law, as i t i s respons ib le for regulat ing reta i l , wholesa le , t rading and even the f inancia l markets . So , i f an indiv idual or a bus iness has been accused of f raud , the FCA i s going to get involved at some point . I f you do f ind yourse l f on the rece iv ing end of a f raud accusat ion , you need to contact a f raud sol ic i tor to represent you , as they wi l l have expert i se re lat ing to the FCA and the pract ices involved . In March 2022 , i t was found that the FCA now oversees the conduct of 50 ,000 UK-based bus inesses and i s respons ib le for the management and f inancia l a f fa i rs o f 49 ,000 f i rms a lso based in the UK. So , they have a lot o f say in what happens ! Thei r a im is s imple : enforce act ion (usual ly with legal act ion) i f the terms of the FCA are breached, superv ise that honest pract ices take p lace across the UK concerning f inancia l f i rms and author ise trading pract ices for investment f i rms , c redi t f i rms and f inancia l serv ice prov iders l ike banks . So , i f you have been accused of f raud in areas re lated to any of these , the FCA are at the root o f i t , and you wi l l need a f raud so l ic i tor who understands the ru les and regulat ions to help you win your case . What does the FCA do? Should your bus iness be approached by Her Majesty ’ s Revenue and Customs (HMRC) regarding tax evas ion , the FCA wi l l l ike ly be tasked with undertak ing part o f the invest igat ion too . So , you wi l l need to h i re a f raud so l ic i tor who knows how the invest igat ions work with both the FCA and HMRC in order for you to have the best chance of winning your case . Concerning a tax invest igat ion , the FCA can ask your f i rm for documents to oversee how you fo l low the guidel ines set down by the FCA. They can a lso ask you to prov ide a report prepared by an indiv idual to help with thei r invest igat ion . Once again , you don ’ t need to panic here , and th is i s one of the benef i ts o f h i r ing a f raud so l ic i tor to help you , as they wi l l know what to put in the document . They can a lso appoint an invest igator who wi l l explore your documents and ask you and your s ta f f quest ions re levant to the invest igat ion . So , i f you are aware that the FCA i s go ing to be pay ing you a v is i t , i t ' s worth hav ing a f raud so l ic i tor handy . F inal ly , the FCA has the power to se ize documents and informat ion af ter they have appl ied for a warrant . Investigations and the FCA Post- invest igat ion , the FCA can withdraw your f i rm's author isat ion i f they f ind you in breach of any part o f the i r legal f ramework . They can apply for in junct ions against your company and pursue legal act ion re lat ing to cr iminal prosecut ion . They can a lso i ssue your f i rm a warning . So , as ment ioned, th is i s why i t i s a lways worth contact ing a f raud so l ic i tor to represent your f i rm when you start t rading ; you can save money (and a lot o f s t ress ) further down the l ine . Enforcement and the FCA https :www.abvsol ic i tors .co .uk/serv ices/ser ious- f raud- and-business-cr ime/ https :www.fca .org .uk/ https :www.f inancia l - ombudsman.org .uk/bus inesses/compla ints-deal / f raud- scams Sources: