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Financial Regulation: Internal Investigations

Good corporate governance and regulatory obligations frequently give rise to the need to conduct an internal investigation to quickly and efficiently establish a set of facts. The terms of reference, the scope and the manner in which those facts are established and reported is important and a well-planned and well-executed internal investigation is critical. It can often be an opportunity to get ahead of an issue or risk and a means to minimise and manage a crisis rather than react to a crisis.

William Fry has a team of lawyers from across various practice areas who regularly assist clients in conducting effective, protected, confidential and robust internal investigations. Emphasis is placed on establishing a clearly structured and well managed investigation with a view to identifying the crucial facts relevant to the matter and making a plan to deal with any consequences. 

We provide ongoing advice and assistance in all forms of factual inquiries, including mandated investigations, potential fraud bribery or corruption, employment related investigations, compliance investigations and  dawn raids and we also assist with crisis and reputation management.

We help clients ask the right questions of the right people with the right resources in an appropriate timeframe. Our lawyers will also help you to manage the consequences of the investigation including risk review, procedural adjustments, regulatory reporting requirements and/or litigation.  

Related practice areas and industries

  • Litigation & Dispute Resolution 
  • Financial Regulation
  • Banking & Finance
  • Insurance
  • Public Law/Judicial Review
  • Employment
 

The key to an effective and robust investigation is in defining the appropriate scope and terms of reference.  This will largely depend on unique circumstances. Establishing the right team, and the process, at the outset of an investigation is also critical to its integrity. Organisations need to look carefully at potential conflicts of interest and the maintenance of confidentiality and legal privilege. 

We help clients to successfully navigate these issues in the context of an investigation.

Our experience includes:

  • Advising a client in its investigation into the facts giving rise to a suspected fraud perpetrated by an employee. 
  • Leading an internal investigation into alleged criminal staff misconduct on behalf of a global software provider which involved the carrying out of sensitive interviews, the provision of advice in relation to disciplinary actions against senior employees and compliance with statutory law enforcement notification requirements.
  • Leading an internal investigation into insider trading at a NASDAQ listed client as part of which the US regulator demanded the immediate provision to it of detailed information on the dissemination of particular market sensitive information in advance of a public announcement and the trading activity which took place on foot of the dissemination of that information.
  • Advising in respect of post-ransomware actions to limit legal and reputational exposure, liaising with relevant authorities, addressing external and internal concerns and addressing all associated litigation and regulatory risks.   
  • Assisting various regulated entities in establishing and documenting a set of facts for the purposes of mandatory regulatory reporting obligations.
  • Guiding numerous corporate clients through employment related investigations including disciplinary processes, protected disclosure enquiries, bullying and harassment claims.
  • Conducting an investigation for a company where there were allegations of fraudulent conduct.

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Key Contacts

Deirdre O'Donovan Consultant

Derek Hegarty Partner

Hilary Rogers Consultant