Charges avoided; FCA takes no further action in respect of FSMA breaches

3 January, 2019


Richardson Lissack was instructed by a corporate client in relation to an FCA investigation.  Our client’s business was involved in internet comparison websites.  The FCA alleged that the company were in breach of Section 19 of the Financial Services and Markets Act 2000, as they believed that they were conducting regulated activities by advising their clients in respect of insurance deals.  Our pre charge investigation work resulted in the FCA offering no evidence in its investigation into our client’s company.  We were able to show that our client’s activities were not regulated and therefore a prosecution was not in the public interest and the FCA did not have a realistic prospect of conviction.