Internal investigations into regulatory misconduct: Key issues for individuals

This paper will address key issues for individuals in respect of internal investigations prompted by significant, non-criminal, financial regulatory issues. For the purposes of the paper, the authors will focus on firms authorised and regulated by the Financial Conduct Authority (FCA) and internal investigations conducted as a result of a breach or suspected breach of FCA rules. The paper will cover matters relevant to individuals such as: (i) duty to participate, (ii) rights and obligations, (iii) access to materials, (iv) legal advice and (v) costs/the availability of insurance coverage. The analysis will be framed in the context of current FCA enforcement trends and priorities regarding both entities and individuals.