Overview

Ensuring compliance with ever-changing financial regulation can be challenging. However, there are clear opportunities for businesses that can adapt quickly to regulatory change and build trust with their customers.

Our financial services regulation team has expert knowledge of the law, the regulatory bodies and the wider financial services sector. We understand the issues that arise in balancing commercial objectives and regulatory obligations. Our specialist lawyers deliver clear, commercially-focused solutions to all types of regulatory issues.   

We work with a wide range of financial services businesses, based in the UK and overseas. Our financial services regulation experts assist clients with complex issues of interpretation arising under the Financial Services and Markets Act 2000 (and related legislation), the FCA/PRA handbooks, consumer credit legislation and the anti-money laundering regime.

We also advise on regulatory issues that can arise during the course of a wide range of transactions. In the event of a potential regulatory breach, we provide expert guidance to clients facing investigations and enforcement actions.

Areas of focus

Our financial services regulation expertise includes the following:

  • Ongoing legal and regulatory compliance support.
  • Transaction support – including specialist due diligence.
  • Financial services regulation advice to new businesses in the UK.
  • Cross-border financial services advice, including applications for authorisation of UK subsidiaries.
  • Investigations and enforcement – representing clients in investigations and enforcement proceedings.
  • Business development – helping businesses wishing to develop new financial products, partnerships and distribution channels. 
Experience

Advising the Wales Pension Partnership on its procurement of an operator to establish and run a collective investment vehicle to enable the pooling of circa £15 billion of assets across a range of asset classes.

Providing legal opinions to various financial institutions (including a major UK bank) regarding compliance with BIPRU in relation to real estate collateral, and advising a significant UK asset management firm on its tier 2 capital structures including the provision of a legal opinion in relation to compliance with GENPRU.

Assisting Royal London with the development of its new pre-paid Funeral Plan proposition which involved advising on the legal structure of the product and the relevant regulatory requirements, drafting of the client terms and conditions and drafting and negotiating the commercial contract between Royal London and its partner Ecclesiastical.

Advising various UK banks and investment firms on the implementation of FCA and PRA remuneration and senior management requirements, including the Senior Management and Certification Regime.

Advising St. James’s Place on the launch of an innovative and unusual fund, structured as a fund of alternative investment funds. This instruction included advising on the product development and application of the regulatory requirements including in particular redemption mechanics, drafting the product documentation and FCA authorisation application, pre-engagement with FCA and drafting and negotiating an agreement with a US delegate investment manager.

Advising a major stockbroker on the restructure of its cross-border activities as part of its preparation for Brexit.

Reviewing terms and conditions for major financial services firms in relation to stakeholder and personal pensions, savings, insurance, credit, ISA and investment products.

Advising a community interest company established to coordinate social impact investing on its requirements under the regulatory regime, its client agreements and the basis on which it was to seek financial support for its charitable clients, including advice under the financial promotions regime.

Advising a bank client in the review and rewriting in plain English of its entire suite of personal and non-personal savings products (including term savings products and cash ISA). The project also saw the development of a common set of terms and conditions to apply to all types of savings products.

Advising Resonance Impact Investment Limited on the launch of one of the UK’s first social investment tax relief funds, including regulatory and tax advice on structuring and distribution of the fund, together with investment documentation, client terms of business, investment advisory agreement and template loan agreement, together with regulatory advice resulting in successful lobbying to change the financial promotion regime.

Advising an asset management client on platform agreements for VCTs and unlisted financial products.

Meet the team
Tom Dunn

Tom Dunn Partner

  • Head of Regulated Funds and Financial Services
  • Regulated Funds
  • Financial Services
Kari McCormick

Kari McCormick Partner

  • Head of Financial Services 
  • Insurance
  • Dispute Resolution
Chris Godfrey

Chris Godfrey Partner

  • Corporate
  • Funds and Asset Management
  • Financial Services
Anna Davis

Anna Davis Associate

  • Financial Services
  • Life and Pensions
  • Regulated Funds
Gareth Malna

Gareth Malna Associate

  • Financial Services
  • Technology and Communication
  • Fintech
Alex Gillespie

Alex Gillespie Solicitor

  • Financial Services
  • Regulated Funds 
  • Life and Pensions
Heather Musk

Heather Musk Solicitor

  • Regulated Funds
  • Insurance
  • Financial Services
James Green

James Green Director

  • Employment
  • Financial Services
  • Employment Disputes

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