Read it properly
Identify the regulator, the power the notice is issued under, exactly what is required and by when. Notices are often broader than they first appear, and sometimes narrower.
Preserve everything
Stop routine deletion of emails and documents relating to the subject matter. Destroying material after a notice arrives can be an offence in itself and looks far worse than anything in the documents.
Call us before you call them
Regulators record conversations and take notes. A well-meaning phone call to "explain the situation" can become evidence. Let us make first contact and manage communications.
Meet the deadline, or extend it
Deadlines are real but are frequently extended if a reasoned request is made early. Silence, or a late and incomplete response, damages credibility.
Answer what is asked
Provide what the notice requires, no more and no less. Assert privilege over legal advice. Do not volunteer commentary. If there is a problem, a considered, early and honest engagement will almost always produce a better outcome than defensiveness.
The regulator has a process. Your job is to be the most organised, credible and cooperative party in it.
This article is general information only and is not legal advice. Contact YSA Partners for advice on your circumstances.