10 top tips for dealing with crisis management

How to react:

1. Take legal advice quickly and check all requests being made by the regulator. With telephones and tablets, we are able to be there with you instantaneously. All staff should be made aware that throughout any regulatory investigation, regulators will take notes of everything they see, hear and witness. This is also the point where you should get in touch with your legal expert to guide you through the process.
2. Inform your broker and insurer immediately. A crisis event is often covered, and we can work for you under the terms of the policy. If your reputation is on the line you can choose your own lawyers so don’t be fobbed off with a stranger. We’re in your corner from the outset. 
3. Appoint a single point of contact within the business to take ownership of communication with the regulators, employees, press enquiries etc. A single point of contact will ensure continuity and retain ownership of the information requested and passed to the regulator.
4.  Take a full note and timeline of all communications with the regulator and their requests for documentation.
5.  Keep a duplicate copy of any documentation provided to the regulator. A really good practical step is to set up a single photocopier for this function, however if this is not possible photographs of each document will suffice
6.  Liaise with your legal expert early regarding any internal investigation, it is extremely important to retain legal professional privilege on documents and investigation reports.
7. Advise employees of their right to legal advice and support if they are requested to provide witness statements to the regulator
8. If the regulator conducts witness interviews, your legal advisor should be on hand to carry out full witness interview de-briefs, these will be informal and conducted by experienced lawyers who are alert and sensitive to the issues going through an employee’s mind during the aftermath of a serious incident. 
9. Arrange support, including counselling, for employees affected by the incident.
10. Remember, do not obstruct the investigation, this can be a criminal offence.