Bank of England and Prudential Regulation Authority

Investigations and enforcement by the Bank of England and the Prudential Regulation Authority

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The Bank (including where it acts in its capacity as the PRA) has a range of investigatory and enforcement powers (including criminal powers) under various statutory regimes, such as Financial Services and Markets Act 2000, the Banking Act 2009 (BA09), and the Financial Services (Banking Reform) Act 2013 (FSBRA). The Bank currently sets out its approach to using these powers in multiple statements of policy and procedure.

Since 2018 the Bank has sought to separate personnel between its investigatory and enforcement divisions to allow for a degree of independence in its decision-making when face with a contested enforcement matter. The Enforcement Decision Making Committee (EDMC) is the relevant tribunal in such regulatory matters. Other more serious cases may be referred to the SFO or FCA for criminal prosecution but the Bank does still retain criminal prosecution powers.

James Solicitors has expert financial services investigations lawyers and a long track record of representing individuals in the financial services industry. We have the required expertise to take you through the often gruelling process from investigation to enforcement. If you are concerned about being investigated by the Bank, the PRA or any other financial services regulator please contact one of our expert financial services investigation lawyers for advice.

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Contact our expert financial services investigation solicitors

James Solicitors provides bespoke specialist advice on all areas of serious and complex fraud, regulatory, taxation and serious financial crime matters. With extensive experience in all areas of fraud and financial crime and a well-earned reputation as leaders in our field, our expert defence team take a proactive and pragmatic approach to legal advice and case strategy. We are committed to your successful outcome.  James Solicitors pride ourselves on our case tailored approach for each client in and our fearless commitment in each and every case we undertake.

If you or your business have concerns, are under suspicion or investigation or have been arrested or prosecuted for any serious fraud or financial crime offence, contact us today on , or via our online contact form.

Bruce James | Partner

Head of Serious and Complex Fraud and Taxation
Phone No.: 07598 179 874

James Mullion | Partner

BA
Phone No.: 07598 179 874

Fiona Gavriel | Partner

MA
Phone No.: 07598 179 874

Notable cases

R v Goodman (LIBOR) (Southwark Crown Court)

High profile acquittal of our client, a former ICAP broker and a key defendant (referred to as “Lord Libor”) in the Serious Fraud Office prosecution concerning alleged criminal manipulation of the London Interbank Offered Rate (LIBOR), a ‘benchmark rate’ that underpins about $350 trillion of financial products worldwide. This case was extremely high-profile and complex, with disclosure from over twenty global banking institutes and referenced millions of financial trades across multiple jurisdictions.  James were the only defence team to utilise industry financial academic expert Professor Neuberger to challenge ‘rate setting’ manipulation allegations.

Reporting:

Need advice? E-mail or Call us now.
E-mail: office@james-solicitors.net
Phone No.: 07598 179 874

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James Solicitors
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