78 Cannon Street
Simon Morris is a partner in the firm’s Financial Services and Products team. He joined CMS London in 1980, qualified as a solicitor in 1982 and has been a partner since 1988.
He specialises in advising financial institutions on commercial and regulatory matters. He has also represented firms in over 400 regulatory and enforcement proceedings brought by the UK PRA and FCA, their predecessors and overseas regulators.
Simon is a member of the City of London Law Society Financial Services Sub-Committee and author of Financial Services Regulation in Practice (Oxford UP 2016). He was appointed a Commissioner of the Jersey Financial Services Commission in January 2015 and was named as the Best Regulatory Lawyer of 2008 at Complinet’s Fourth Annual Compliance Awards in January 2008.
- A number of banks, including a global systemically important bank, on implementing the new UK regime for individual responsibility at banks.
- Asset managers and other firms on the introduction of CRD4 requirements.
- The MiFID project for one of the UK’s largest banks.
Dealing with the regulators
- Authorisation for banks, insurers, asset managers and other firms; successfully handling the largest fully contested application for authorisation.
- Applications for individual approval; successfully obtaining approval for senior managers initially refused approval.
- Applications for change in control (including a major contested application), variations of permission and passporting.
- Preparing firms and individuals for routine and focused supervisory visits, including client asset, conflict, financial crime, treating customers fairly and governance reviews.
- A board effectiveness review for a broker dealer to fulfil an FCA requirement.
- The FSA’s two enforcement cases involving weak governance.
- Conflicts reviews for asset managers, insurers and banks.
Meeting regulatory requirements
- Perimeter issues for banks, insurers, asset managers and other firms, enabling them to operate in the UK within clearly established boundaries.
- On meeting the FCA’s requirements on protecting against money laundering, bribery and corruption and market abuse.
- Firms to meet regulators’ evolving requirements on the shared liability of manufacturers and distributors for financial products; handling the FCA’s first enforcement case on this topic.
- Liability to meet regulatory, Ombudsman and Compensation Scheme fee levies.
Handling retail redress and complaints
- Insurers and other firms on structuring complaints and claims handling functions.
- On major redress projects, advising whether compensation is due , how much and when.
- Helping firms to resolve complaints before the Financial Ombudsman Service, including major lead complaints and successfully halting or overturning FOS decisions through legal process.
- Firms in over 400 enforcement proceedings including.
- Reporting adverse events and handling subsequent investigations.
- Firms on helping to manage the appointment of a skilled person.
- Firms and individuals in formal disciplinary proceedings.
BA Law, Gonville and Caius College, Cambridge
PhD History, Birkbeck College London