FSA enforcement and criminal investigation
As a specialist fraud, regulatory and criminal law firm, Corker Binning is exceptionally well equipped to advise on insider dealing and market abuse cases. We advise individuals and businesses involved in enquiries by the Financial Services Authority's (FSA) Enforcement Division, including cross-border cases involving international mutual legal assistance between regulators.
The FSA has pursued a policy of “credible deterrence” in the active investigation and prosecution of insider dealing in recent years. Corker Binning has been instructed to advise businesses and/or private individuals in all of the major new investigations. We acted for the defendant in the first legal challenge to the FSA's power to prosecute: Regina (Uberoi and another) v City of Westminster Magistrates' Court [2008] EWHC 3191 (Admin). We also acted for the defendant in the first ever case in which the FSA entered into a Plea and Cooperation Agreement using their new powers under section 73 of the Serious Organised Crime and Police Act 2005 (FSA v Ahmad 2010). We are currently defending an insider dealing case described by the FSA as “the most serious and complex insider dealing prosecution that has thus far been mounted in the UK criminal courts.”
(Corker Binning) ... praised for its handing of the most intricate criminal fraud cases.
Chambers UK 2011
Other recent FSA enforcement work has included acting for:
- the directors of an international PLC who were accused of insider dealing and market abuse. We successfully persuaded the FSA to discontinue its investigation
- a major private equity firm in an internal investigation involving several jurisdictions
- an individual client accused of market abuse in relation to trading in AIM listed shares
- a firm accused of serious breaches of the financial promotion regime by an appointed representative where we negotiated a private warning
- a client in a market abuse enquiry that has resulted in one of the very few oral hearings before the FSA's Regulatory Decisions Committee.
All our partners have significant experience of advising in regulatory and criminal FSA investigations. For more information about how we might be able to help you, call 0207 353 6000.
