Financial services offences

Financial Conduct Authority

The Financial Conduct Authority (FCA) is a designated investigator and prosecuting authority under section 402 of the Financial Services and Markets Act 2000 (FSMA 2000) for financial services offences. The FCA’s information gathering and investigations powers are set out predominantly in FSMA 2000, Part XI. This gives the FCA (and the Prudential Regulation Authority (PRA)) specified powers affecting authorised persons and their employees and, among others, listed companies and their directors, and any person who commits market abuse. The failure to comply with a requirement under this part, for example, by failing to provide documents or information, or providing false information has potentially serious consequences and can constitute and offence in and of itself. An offence of frustrating or interfering with an FCA investigation can lead to a fine or prison sentence. Practice Note: Offences during an FCA investigation provides information on the various offences that can be committed during the course of an investigation by the FCA. This includes failure to comply with a document or information requirement; destroying, falsifying or concealing documents; providing information which is known to be false or misleading;