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Companies Investigations Branch (CIB) Solicitors
If your company is the subject of an investigation by the Companies Investigations Branch (CIB), now part of the Insolvency Service, it is vital to seek legal advice from a solicitor experienced in this area, as soon as possible.
This way, you can ensure that your company’s interests are protected, right from the start.
Understand The Situation
The company or its directors may be prosecuted. Depending on the circumstances, they could receive a fine or a warning. However, if the case is of a more serious nature, the business could be closed down.
Necessary Knowledge
Your specialist solicitor will have the necessary knowledge, expertise and experience to ensure that the Companies Investigations Branch (CIB) investigation causes minimal disruption to your business activities.
What is the Companies Investigations Branch (CIB)?
The Companies Investigations Branch (CIB) conducts investigations into limited companies when it receives complaints about serious corporate abuse, such as alleged misconduct, fraud, scams or trading irregularities.
It became part of the Insolvency Service in April 2006.
What does the law say about the Companies Investigations Branch (CIB)?
Company Investigations, as it is now known, gets its power to conduct these investigations through the Companies Acts.
After receiving a compliant about a limited company, Companies Investigations Branch (CIB) will decide whether or not it can investigate it, as well as whether it is the public interest to do so.
Are Companies Investigations Branch (CIB) investigations public knowledge?
Companies Investigations Branch (CIB) investigations are not carried out in public. However, this does not mean that your business will not be affected.
Companies Investigations Branch (CIB) can request information from your customers and your suppliers, as well as your own records.
As such, it is vital that if your business is the subject of such an investigation, you seek legal advice from a solicitor experienced in dealing with the Companies Investigations Branch (CIB), as early on as possible. Your solicitor can then ensure that the investigation runs smoothly and causes minimal disruption to your day-to-day business.
Will we be told why the Companies Investigations Branch (CIB) is investigating us?
No. Companies Investigations Branch (CIB) investigations are confidential and as such, the company directors are not informed of the specific reasons as to why their company is being investigated.
Will we be told who complained to the Companies Investigations Branch (CIB)?
No. You will not be told who the complainant is. Neither will the complainant be told whether or not the Companies Investigations Branch (CIB) has decided to conduct an investigation.
Will the person who complained be told of what was discovered during the Companies Investigations Branch (CIB) investigation?
No. Companies Investigations Branch (CIB) investigations are confidential.
Is a Companies Investigations Branch (CIB) investigation a criminal investigation?
The powers the Companies Investigations Branch (CIB) has to investigate are civil, not criminal. Companies Investigations Branch (CIB) investigations are a fact-finding exercise, not a criminal investigation.
If the investigation reveals that a criminal offence may have been committed, the Companies Investigations Branch (CIB) may refer the case to the police, their Criminal Investigation Team or another regulator/investigation agency.
What happens after a Companies Investigations Branch (CIB) investigation?
The company or its directors may be prosecuted. Depending on the circumstances, they could receive a fine or a warning. However, if the case is of a more serious nature, the business could be closed down.
If the behaviour of the directors is “questionable enough”, the Companies Investigations Branch (CIB) may begin proceedings to disqualify them from managing a limited company for a maximum of 15 years.
If an investigation shows “no cause for concern”, no further action will be taken.
Why do I need a solicitor experienced in Companies Investigations Branch (CIB) investigations?
Your specialist solicitor will have the necessary knowledge, expertise and experience to ensure that the Companies Investigations Branch (CIB) investigation causes minimal disruption to your business activities.
Your solicitor can also act on your behalf during interviews and, if necessary, during prosecution proceedings, to ensure you and your business come out with as little damage to your reputations as possible.
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