As a professional, you are an acknowledged expert in your field. And you are regulated.
Regulation by agencies such as the Financial Conduct Authority amongst others is in place to ensure that individuals or organisations uphold the reputation of their profession or business sector and are legally compliant. Regulation by a professional body brings with it responsibilities for those being regulated. And regulatory issues can, in certain circumstances, prompt investigations by the police or other law enforcement agencies.
As regulation continues to extend its influence into more aspects of many professions, the right advice is becoming increasingly important. Regulated professionals need access to the relevant experts in order to correctly address any professional discipline and / or legal issues that arise from an allegation or set of circumstances.
At Rahman Ravelli, we meet those needs. Our internal investigations teams will devise and carry out a thorough examination of the allegations of wrongdoing and assess the available evidence.
Rahman Ravelli’s crisis management teams will then determine the most appropriate response in relation to any professional body, legal agency or even media outlet that has taken an interest in the allegations.
Professional regulation places demands on those being regulated. We manage those demands and resolve them in the most satisfactory way possible to protect and preserve your professional standing.
Rahman Ravelli works swiftly and discreetly, in a way that is tailored to your requirements, in order to obtain the very best possible outcome to regulatory and legal investigations.
Regulatory law encompasses the legal frameworks that govern the conduct of individuals and organisations in regulated sectors. In the context of legal practice, regulatory law typically refers to the rules and processes governing professional conduct, fitness to practise, disciplinary proceedings, and the protection or loss of authorisation to carry on a regulated activity. Key regulatory bodies in the UK include the Financial Conduct Authority (FCA), the Solicitors Regulation Authority (SRA), the General Medical Council (GMC), the Nursing and Midwifery Council (NMC), and many sector-specific regulators.
Regulated professionals can face a wide range of disciplinary proceedings including fitness to practise hearings, conduct and competence proceedings, investigation by a professional regulator following a complaint or referral, and proceedings before a regulatory tribunal or committee. In financial services, regulatory action by the FCA can include fines, public censure, prohibition orders, and withdrawal of authorisation. These proceedings are distinct from criminal prosecutions but can have equally devastating consequences for a professional's career.
The Senior Managers and Certification Regime (SM&CR) is a framework introduced by the Financial Conduct Authproty and Prudential Regulation Authority that holds senior individuals in authorised financial services firms directly accountable for their conduct and for the conduct of those they manage. Senior Managers must be approved by the regulator for designated functions. Certified staff are assessed annually. All staff in scope are subject to individual Conduct Rules.
A prohibition order made by the FCA under section 56 of the Financial Services and Markets Act 2000 prevents an individual from performing any or specified functions in connection with regulated activities. A prohibition can be partial (restricting particular functions) or total (preventing any involvement in financial services). A prohibited individual may not be employed in the functions covered by the order. Prohibition orders are published on the FCA's register and represent a permanent or long-term bar from the industry unless successfully challenged on appeal.
Yes. In financial services, decisions made by the Regulatory Decisions Committee (RDC) of the FCA can be referred to the Upper Tribunal (Tax and Chancery Chamber), which hears the case afresh on the merits. This is a full re-hearing rather than a judicial review, meaning the Tribunal can substitute its own findings and conclusions for those of the RDC. In other regulated professions, appeal routes vary by regulator — solicitors regulated by the SRA can appeal to the Solicitors Disciplinary Tribunal, and doctors have appeal rights through the Medical Practitioners Tribunal Service.
A regulatory investigation is conducted by the relevant professional regulator and can result in non-criminal sanctions — fines, conditions on practice, suspension, or striking off. A criminal investigation is conducted by a law enforcement authority and can result in prosecution, conviction, and imprisonment. The two can run in parallel. Where criminal proceedings are pending, the regulatory body may stay its proceedings, but it is not obliged to do so. The interaction between the two processes requires careful management, particularly in relation to what is said to which authority and in which forum.
A Section 166 review (also known as a 'skilled person review') is a tool used by the FCA under section 166 of the Financial Services and Markets Act 2000 to appoint an independent skilled person to report on specified aspects of a firm's affairs. The costs are borne by the firm. A s166 review is a serious regulatory intervention that frequently precedes formal enforcement action. Firms should take proactive steps to understand the scope of the review, cooperate fully, and take legal advice on managing both the review process and any subsequent enforcement risk.
Regulatory proceedings carry stakes that are as high as criminal proceedings for the professionals involved — the loss of the ability to practise in one's chosen career. The procedural landscape is distinct from criminal or civil litigation, and the applicable standards and defences differ significantly between regulators. Specialist regulatory solicitors understand the culture, practices, and expectations of each regulatory body, can advise on the most effective presentation of a case, and are experienced in representing clients before regulatory tribunals and on appeal to the Upper Tribunal or equivalent bodies.
