FCA investigations for ‘dual-track’ cases- matters which could result in either regulatory enforcement action or criminal prosecution. Clients include:

• a European futures trader subject to FCA enforcement action for alleged market abuse (spoofing). The case was appealed to the Upper Tribunal in a three week trial.
• a CEO under investigation for alleged failures to comply with the Money Laundering Regulations.

Regulatory investigations into failures to act with due skill, care and diligence. Clients include:

• Neil Woodford and Woodford Investment Management, a case concerning the measurement and management of liquidity risk in a daily dealing fund. The case is currently on appeal before the Upper Tribunal.
• A Chief Risk Officer, in connection with the systems and controls for information barriers.

Alleged failures to be open and cooperative with the Regulator. Clients include:

• a senior executive accused of failing to disclose that he had been subject to sanctions by HMRC;
• the Chairman of a Bank accused by the PRA of failing to disclose information about US enforcement action.

Senior executives under investigation by the Serious Fraud Office, including in connection with:

• the Unaoil probe, focused on alleged foreign bribery;
• allegations of fraud relating to Serco’s government contracts.

Cross-border investigations coordinated between multiple agencies, including:

• an investigation into an insider dealing ring brought by the FCA and SEC.
• in respect of a Swiss bank for alleged tax evasion.