If you're a potential victim in a criminal case the FCA is investigating, having suffered a loss as a result of the wrongdoing under investigation, find out what you can expect from us.
We conduct criminal investigations and prosecutions to further our objectives and to deter future wrongdoing.
We are committed to treating victims fairly, with dignity and respect. We uphold the standards in the Code of Practice for Victims of Crime (Victims’ Code).
If we ask you to act as a witness for a potential criminal trial, we will explain:
- the investigation and prosecution process
- how it may affect you
- what you can expect from us as a witness in our investigation
Reporting a criminal offence
We only investigate certain types of financial crime. The types of cases that we investigate depend on the nature of the wrongdoing, for example, misconduct in regulated types of financial services.
If you feel that you have suffered a loss as a result of a financial crime, you can contact us. We will let you know, once we have considered your report, whether we are likely to investigate, or if it would be more appropriate to refer the matter to the police or another agency.
If we become aware of an alleged criminal offence that has resulted in economic loss, we may contact you as a victim to find out if you can give us more information.
If you are contacted by an FCA investigator for this purpose, they will ask you for some personal details, including contact details, so that we can contact you during the investigation.
These details will be held securely, and in line with the Data Protection Act.
Interviews with the FCA
If you have made a complaint to us and have suffered economic loss, we will speak to you as soon as possible. It is likely that you will be interviewed by telephone.
If we think that you have relevant information that may need to be presented to the court, we may interview you again at our offices or at your home.
There are different ways in which we may interview you. This may be on a voluntary basis, or we may use our compulsory powers to require you to attend an interview (using our powers under the Financial Services and Markets Act (FSMA) 2000).
If you are to be interviewed under our compulsory powers, we will send you a formal notification saying so.
We record all interviews, so that we have an accurate account of what has been said.
Giving a witness statement
We may ask you to make a witness statement. This will be taken by an FCA investigator, who will ask you questions and put what you have said into a formal statement.
The FCA investigator will:
- explain the purpose of the witness statement
- explain the process of taking a witness statement
- ensure that you read and understand your draft statement thoroughly, to ensure it accurately reflects what you have said before you sign it
- explain the implications of signing the witness statement
You will be asked to read your witness statement to make sure you are completely happy with it. If you are, you should sign it with your name.
When you sign a witness statement, you are saying that you agree with what it says and that it is a true account of what you have said about the events in question.
The contents of the statement cannot be changed once it has been signed.
If, later, you want to add more information to the statement or clarify something in it, another witness statement can be taken.
Interpretation and translation
If you need language assistance in interpreting or translating any documents during the interview, or while we take a witness statement, then please tell the FCA investigator. They will be able to arrange assistance for you.
Giving evidence in court
If the case is brought to court, you may need to give evidence during a trial. If this is the case, we will give you as much notice as is reasonably possible, so you can plan to attend.
We will let you know the court dates and we ask that you avoid any significant commitments (such as holidays) in and around the time when you are likely to give evidence. Please let us know as soon as possible should any commitments arise that clash with this date.
Court dates can change. If the date when you are due to give evidence changes, then we will let you know as soon as possible.
During the court case, you will be assigned an FCA witness liaison officer who will keep you informed about the progress of the case.
To help you prepare to give evidence in a trial we will:
- explain the process of giving evidence, including the courtroom procedure and layout
- look to answer any questions you may have
When you are called to court to give evidence you will not be allowed into the courtroom to watch the trial until you have given your evidence.
Once you have given your evidence you may be allowed to stay in court if the judge agrees.
Giving evidence at court can be stressful. If you are a young or vulnerable witness, then we can take measures to help ensure that you give your best evidence.
This may involve us applying to the court for ‘special measures’. This assistance is offered to those that are particularly vulnerable or intimidated when giving their evidence.
For example, you may be entitled to provide your evidence from outside the courtroom via live video link, so that you do not need to see, or be seen, by the defendant(s). Or, you may be provided with screens around the witness box, so that you are unable to see the defendant while you give evidence.
You can ask for special measures if you think it would help you in giving your evidence. The court decides whether these measures can be put in place.
Please let us know if you have:
- a disability that may affect how we provide you with information or how you communicate with us
- any requirements that may affect your ability to give evidence at court
We can make reasonable adjustments when providing you with information or arranging access to our premises or the court.
You can find out more about the facilities available and contact details on the Court and Tribunals website.
Helping you claim your expenses
If you need to attend court to give evidence, we will send you:
- a witness expenses form setting out the rates for claiming expenses
- the application form with detailed rules about claiming expenses
You can claim limited expenses for:
- travel to and from court
- accommodation (with our prior agreement)
- food and non-alcoholic drinks (unless the Witness Service or the court provides free refreshments )
You may sometimes be able to claim limited expenses for:
- compensation for loss of earnings from attending court
- related costs such as childcare
The FCA's witness liaison officer will be happy to explain the procedure and help you fill out the form.
Applying for compensation
You may be able to apply for compensation if you have suffered loss as a result of a crime in which a defendant has been convicted.
If it is appropriate to do so, we will apply to the court for compensation for the victims in a case.
This application takes place at the end of the trial and once a full financial investigation has taken place. This may take some time after conviction to complete.
An application may be made for some, or all, of the loss resulting from the offences of which the defendant is convicted, taking into account the specific facts of the case and all the circumstances.
The final decision on whether to grant compensation lies with the court.
The court also decides on the amount of any compensation. Anything you may receive in compensation depends on a number of factors, including:
- the defendant satisfying the compensation order
- whether you have received compensation already
Inviting your feedback
We welcome all feedback.
This does not cover the decisions or verdicts made by the court.
Victims’ right to request a review
Where we have taken on a criminal investigation, victims can seek a review of an FCA decision not to bring charges or to terminate all proceedings.
Please note that the scheme applies only in relation to qualifying decisions made on or after 16 November 2015. It does not therefore apply to any complaint of misconduct received by the FCA, but is limited to those cases where the FCA has taken responsibility for pursuing a criminal investigation.
If you want to seek a review of an FCA decision then please contact us.