A Guide to Conducting Internal Investigations

Internal investigations can be undertaken by a company or firm as a precursor to anticipated regulatory action, or for many other reasons. This title explains what a good regulatory investigation looks like whilst guiding investigators through the myriad of issues that can arise. It also dismantles many of the preconceptions and myths which have grown up around investigations in the post-financial crisis environment.

Investigations are part of the 'business as usual' lifecycle for regulated firms. But there is no regulatory blueprint for what is accepted practice or accepted standards. This puts firms at a disadvantage with their regulators.

Providing expert guidance on every step of a regulatory investigation including who should carry out the investigation, the scoping and planning, the interviewing and witness handling, how best to cooperate with the authorities, employee conduct and performance investigations, investigating senior staff, press, PR and Corporate Comms and litigation risks A Guide to Conducting Internal Investigations redresses the balance and provides a much needed blueprint for firms who find themselves in this position.

This is a new practical resource for all firms and individuals that may find themselves the subject of, or be asked to assist in, a regulatory investigation or enforcement action.

Jake McQuitty leads the Investigations & Enforcement team at TLT. He has wide experience of acting for financial institutions, corporations and individuals in the UK and globally in relation to criminal and regulatory investigations, as well as conducting internal investigations on behalf of financial services clients. He also advises financial institutions on litigation and risk management issues. Jake was formerly the Head of Investigations & Enforcement for Barclays Bank for Europe and the Middle East where he oversaw a significant portfolio of global investigations and enforcement matters in both the retail and wholesale banking businesses. These included the highly-publicised cases against Barclays in respect of benchmark fixing (Gold and FX) and client custody and assets rule breaches. Jake has considerable experience of dealing with investigations by authorities in the UK, including the FCA, PRA, SFO, HMRC, LSE, the Metropolitan police and Ofgem, as well as dealing with central banks and other authorities around the world, including in Australia, Japan, Taiwan, Singapore, Hong Kong, India, the UAE, South Africa, the USA and various emerging markets. Before joining Barclays, Jake spent ten years as a lawyer in the City of London acting for financial services clients in relation to commercial court litigation, regulatory investigations and large-scale customer compensation schemes. Jake qualified as a barrister in 1998 and practised criminal and civil law at the Bar. In 2002, he was admitted as a solicitor of the Supreme Court of England & Wales and joined TLT in 2015. Charles Hastie is Leader of Regulatory Advisory function at Clutch Group. Clutch is a global e-discovery and legal services provider that leverages technology to assist clients in the areas of litigation and investigations, compliance and risk. Previously he was the FCA supervisor of Barclays Investment Bank and spent three years in FCA Enforcement leading high profile investigations into financial services firms and their senior staff. Further FCA experience vetting potential Enforcement cases and managing internal stakeholder relationships (Markets, Supervision and UKLA) and external relationships with agencies such as the Prudential Regulation Authority, SFO and City of London Police.