Regulation encompasses all aspects of a commercial business. Its broad application means businesses and regulated individuals have to ensure compliance and evaluate regulatory risk from the outset with a continuing obligation to ensure there are appropriate structures and governance in place and pro-active compliance.
When the regulatory body intervenes alleging breaches and seeking enforcement, the impact on any business or regulated individual can be devastating. Here at Edwin Coe we guide clients from the advisory aspects of any commercial activity, through to dealing with investigations, enforcement, sanctions and any prosecution.
We understand that dealing with regulators requires a different approach to that adopted in general. There are often sensitive “political” or reputational issues that have to be addressed. We act for both firms and individuals and offer strategic advice to ensure that such parallel objectives are dealt with alongside the main regulatory actions. We are also experienced in dealing with the related civil, criminal and employment claims that can arise from breach of regulatory provisions.
Likewise we assist clients in dealing with regulatory overlap, where for example the breach of an FCA obligation may also amount to non-compliance with the requirements of the relevant professional regulatory bodies. Our regulatory work extends to dealing with aspects of professional regulation and representing individuals at professional disciplinary tribunals.
At Edwin Coe we also have specific expertise in the implementation of financial sanctions and dealing with the impact on both businesses and individuals. We have successfully challenged the implementation of sanctions before the EU court. We are also skilled at navigating clients through the impact of sanctions particularly on commercial transactions, the licencing regimes in operation within the UK and general strategy.
Whether it be the Financial Conduct Authority (FCA), Health & Safety Executive (HSE), Ofcom, Office of Fair Trading (OFT), Advertising Standards Authority (ASA), or local authorities, we will be able to assist you at every stage.
Our experience in this field includes:
- Advising on all day-to-day compliance issues, including regulatory due diligence and the implementation of appropriate structures and controls;
- Providing advice as to whether authorisation is needed for certain activities, including assisting with the presentation of applications to the appropriate regulators;
- Offering pragmatic advice on matters arising out of investigations of possible breaches of the FCA’s principles and rules;
- Responding to information requests and cooperating in open dialogue with the regulator;
- Interview advice and representation;
- Assisting with devising and implementing remediation programmes;
- Providing practical advice as to the enforcement process and advising as to possible sanctions; and
- Attending to settlement negotiations.
Examples of our work include:
- Acting for various financial services firms and insurance intermediaries in the course of investigation and enforcement proceedings by the FCA
- Acting in some of the most high-profile employment related cases of recent years, particularly in respect of whistleblowing and interbank offered rates
- Advising financial services firms in relation to their regulatory requirements, ranging from FCA authorisation requirements, financial promotion rules, and compliance with FCA COBS rules to advising in regard to short-selling regulations and FCA cold calling restrictions
- Advising in regard to the Approved Persons Regime, Senior Managers Regime and Certification Regime
- Advising on all aspects of both the recruitment and termination process including Form A, the FIT test, regulatory references, Form C and regulatory notifications
- Dealing with the ASA in their adjudication of alleged misleading advertisements of a prominent seller
- Advising on the regulatory issues involved in the development and sale of various insurance products and instruments and also providing advice on insurance coverage issues in relation to regulatory investigations
Compliance & Regulatory Enforcement Team
Roger Franklin is lauded for being commercially minded, committed and pragmatic, as well as very good with clients.
Chambers UK 2017
Simeon Gilchrist is responsive and fast, and clients note him for his approachable and supportive nature.
Chambers UK 2016
Linky Trott is unbelievably smart and amazing.
The Legal 500 2016
Roger Franklin is incisive in his analysis of cases and cool under fire.
The Legal 500 2014
Simeon Gilchrist thinks of ideas all the time and is highly approachable.
Chambers UK 2014