All businesses are well advised to keep up-to-date with the law and to take compliance seriously.
However, for some types of businesses, there are specific regulations applying which create additional and often more significant regulatory risks.
Obtaining good, experienced and cost effective legal advice has many benefits. Risks are reduced and time is saved and compliance. To demonstrate compliance it is god practice to be investing and using external suppliers can save time and money. We can help with training as well as keeping you protected.
Regulatory investigation – the nightmare scenario
If your business faces a regulatory investigation, even if it results in being cleared, can have devastating consequences. It will be highly disruptive, costly, stressful, impact on morale and could severely impact the business reputation.
The best course of action is always to be ahead of the curve on compliance but if you know you are facing a regulation issue, act quickly and get help. Burying your head in the sand will only make it worse.
Financial Services legal compliance
We advise many different clients from many different specifically regulated sectors. A particular specialism is financial services, where we represent a highly cost effective alternative to the Magic circle law firms. Our clients include niche, smaller financial services providers, such as brokers, hedge funds, the insurance industry.
Regulatory risk – employment law aspects
There is often a crossover with compliance and regulatory risk with employment law. A member of staff may have blown the whistle on an issue. Your business may have a member of staff who has been acting unlawfully or illegally such as being involved in bribery or fraud. These situations have an employment law as a well as regulatory aspect which needs to be very carefully handled. Our lawyers are highly experienced in these situations.
Risks for directors
Company directors are primarily responsible for ensuring that the company complies with the law. Where there is a major compliance breach directors can potentially face personal liability. This is sometimes the case even where those directors weren’t aware of the wrongdoing, such as under the Bribery Act. This is another good reason for ensuring that you have good legal advice and processes and paperwork ion place to reduce risk.
How can we help?
Ways in which we can help you include:
- Advising, educating and training on any specific regulations applying to your business or sector
- Preparing the right policies and processes to demonstrate regulatory compliance.
- Advising where you become aware of a regulatory investigation.
- Dealing with any financial crime or fraud you become aware of in your business.
- HMRC investigations
- Advice for company directors where regulatory issues arise
- FCA investigations
- Trustee related investigations or allegations
- Charity sector regulatory issues or regulations including alleged misfeasance.