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Financial Services Businesses

For businesses, regulatory investigations can be alarming, time-consuming, and expensive. If mishandled, they can have disastrous results for the firm – and for individuals.

Stephen Platt & Associates have extensive experience of advising and acting for both businesses and regulators in the financial services sector.  We are particularly skilled in relation to the identification, quantification, and remediation of problem areas within a business, and we 'speak the regulators' language'. As a result, we are uniquely placed to advise firms not only on how to handle a current investigation, but also on how to prevent one from being commenced in the first place.

We are trusted by regulators to act with integrity and to give the right advice to our clients.  In 2012, formal regulatory action against a client was forestalled for this reason as a result of our firm being instructed. In addition to domestic regulation, we are expert in relation to cross-border issues including sanctions, extra-territoriality, FATCA, the FCPA and the UK Bribery Act.

Our expertise covers all aspects of regulatory investigation. We can assist with:

  • Crisis management
  • Communications with regulators
  • The proactive identification and remediation of problem areas
  • Preparation for regulatory interviews
  • Stress testing of people and systems in preparation for onsite regulatory visits
  • The design and implementation of comprehensive remediation strategies to ensure that prospective investigations are prevented, and that those already underway are brought to a satisfactory conclusion

In the last year, SPA has advised and acted for:

  • One of the world’s largest financial institutions in respect of a regulatory investigation spanning numerous jurisdictions and all aspects of the firm’s AML/CFT and sanctions compliance framework
  • A leading regional bank facing potential multi-jurisdictional investigation in relation to stripping activity, sanctions breaches, and the contravention of the terms of its operating licence
  • A substantial stockbroking and investment management business in relation to insider dealing concerns
  • One of the world’s largest macro hedge funds on governance, board responsibilities, and cross-jurisdictional regulatory compliance and relationships
  • A leading Asian bank facing regulatory action on the design and implementation of AML and other controls
  • A trust company business facing regulatory action in relation to internal controls, AML, governance, and enterprise-wide risk management