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