Osborne Clarke recently ensured that no action was taken against a client following a joint criminal and regulatory investigation pursued by the Financial Conduct Authority (FCA).
The client, who is connected to professional sport, was initially interviewed under criminal caution by the FCA in respect of alleged market manipulation.
Following representations made on behalf of the client that the FCA had unlawfully deployed its investigative powers, to utilise civil powers in the context of a criminal investigation, the FCA discontinued the criminal investigation. The firm subsequently again represented the client at interview in relation to alleged regulatory breaches ensuring that the client's position, and denial, was robustly advanced. The team were able to advise a delighted client that the FCA will take no further action against him.
The instruction, and its outcome, reflects the depth of expertise Osborne Clarke has in its contentious financial services team in successfully representing clients facing criminal and/or regulatory investigation by the FCA.
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