Our Employment Solicitors Manchester specialist for financial advisors, offer representation in all cases presented by the Financial Conduct Authority (FCS). In certain situations, we will also offer representation in cases presented by the Prudential Regulation Authority (PFA).
The Regulatory Process
The Financial Conduct Authority has a supervisory and enforcement division. It is their purpose to make formal investigations into complaints and cases brought against companies or individuals working in financial industries. All cases are assessed for malpractice and if found relevant are appointed to an investigator. The company involved is then notified of the investigation.
If the investigator cannot resolve the case via executive settlement, it is then referred to the Regulatory Decisions Committee (RDC). Any case taken by the Regulatory Decisions Committee will involve the company or individual in question being sent a warning notice at this stage. The company or individual may provide written information prior to, and verbal information at, the meeting arranged to resolve the situation. The company or individual has the right to view all information held by the Regulatory Decisions Committee.
On completion of the investigation, the Regulatory Decisions Committee will issue a decision notice that will outline the reasons for their verdict. The final notice sets out the proposed actions for resolution.
The company, or individual, can appeal against the Regulatory Decisions Committee to the Upper Tribunal (Tax and Chancery Chamber). The Tribunal will arrange a meeting to consider their decision.
Internal disciplinary proceedings
Our specialist employment law solicitors will be happy to represent any financial advisor or financial advice company involved in internal disciplinary proceedings being carried out by their employer or line manager.
Representation for financial advisors and financial advice companies in cases of regulatory proceedings
If you are subject to legal proceedings in respect to your role as a financial advisor, please contact us on 0161 82 11 559, or complete the form on our enquiry page. One of our dedicated team will contact you as soon as possible to discuss your case, possible outcomes and all of your available options.