Home / Europe / United Kingdom / Financial Services & Regulation

Financial Services & Regulation

The daily challenges you face in doing business in a highly regulated, cost-pressured environment mean you need advisers who have an unparalleled understanding of the regulators’ expectations and are commercial, practical and industry savvy.

With leading practices in the UK’s two biggest financial services centres, London and Edinburgh, our team combines wholesale and retail, contentious and non-contentious expertise across banking, insurance, asset management and financial intermediation. You can be assured we understand the regulatory context in which you operate and recognise the importance of finding commercial solutions.

Our specialist regulatory lawyers advise retail and wholesale financial services firms on managing regulatory risk and resolving and avoiding regulatory action and disputes.

Having represented firms in over 400 regulatory investigations and enforcement proceedings, our team combines knowledge of regulated businesses with a clear understanding of what the regulators require.

We use that experience to help clients manage and grow their businesses through the development of new products, services and distribution channels.

RegZone is our award winning online guide to financial services and reform. It provides news, expert analysis, research tools, training and access to events. Register for free to receive a personalised service to your inbox.

“The team functions incredibly well as a whole. I feel CMS’s knowledge of what we do, our approach and the wider industry overall is exceptional.”

Chambers UK 2022, Financial Services

“They are a hugely practical and pragmatic team. They're very sensible, get to the heart of the issues efficiently and have a deep understanding of the market.”

Chambers UK 2022, Financial Services
Law-Now: Financial Services & Regulations
Visit Law-Now for legal know-how and commentary
07/11/2023
Future of Finance: preparing for the future of financial services
Finance and the regulation of finance has never been so complex, fast moving or fragmented. While firms are coming to terms with regulatory divergence and the ever increasing pace of reform, the wider context in which they are operating has radically changed. The emergence of generative artificial intelligence has jolted the industry awake to the risks and opportunities of new technologies, while digital assets, CBDCs, tokenisation and blockchain settlement promise to deliver radical change in the coming years. Firms must prepare and ensure that they can keep up with the pace of innovation and regulatory change.  CMS is a trusted adviser to both the world’s leading financial institutions and fast-growing market entrants, providing cutting-edge advice and helping clients to navigate regulatory change. Our Future of Finance hub brings together our latest briefings and thought leadership on the emerging issues that matter. Please contact your usual CMS contact or any member of the team referred to on the hub if you would like to discuss any of these issues further.
Advising the Board

Feed

10/04/2024
FCA Consultation on Payment Optionality for Investment Research (CP24/7)
On 10 April 2024, the FCA published a consultation on Payment Optionality for Investment Research (CP24/7). In the consultation, the FCA proposes a new option for asset managers when paying for investment...
04/04/2024
Lexology Masterclass: The future of AI in financial services, where innovation...
On 29 February, our CMS Financial Services Regulatory team and Nextwave hosted a Lexology Masterclass on the future of AI in financial services. In this webinar, we offered practical insights into how...
02/04/2024
ESMA feedback statement on shortening the EU settlement cycle reveals widespread...
The European Securities and Markets Authority (ESMA) has released a feedback statement summarising comments received from market participants during its consultation on shortening the EU settlement cycle.Under...
28/03/2024
UK Cryptoasset Regulation – 2023 developments and what’s to come in 2024...
In Part 1 of this two-part series, we provided an overview of the myriad developments in the regulation of cryptoasset activities in the UK in 2023 and the first two months of 2024, and looked ahead to...
28/03/2024
FCA Publishes Finalised Guidance on Financial Promotions on Social Media
The Financial Conduct Authority (“FCA”) has published its finalised guidance on financial promotions on social media (FG24/1) (the “Guidance”). This follows a consultation carried out by the FCA...
19/03/2024
HM Treasury launches consultation on improving the effectiveness of the...
HM Treasury (“HMT”) has launched a consultation (the “Con­sulta­tion”) on improving the effectiveness of Money Laundering Regulations 2017 (“MLRs”). The Consultation follows HMT’s 2022 review...
18/03/2024
Financial Services Webinars On Demand
Click here to view recordings of CMS financial services we­binars avail­able on de­mand. We­binars are a convenient way to stay informed and hear from our legal experts. medium
14/03/2024
Next Generation Financial Services networking
 We are hosting our first Next Generation Financial Services networking event from 5pm on Thursday 14 March in our CMS London office. As part of this event, we will be sharing our thoughts and insights on the latest regulatory developments, followed by the opportunity to connect and discuss further over drinks and canapes. The event is aimed at junior/mid-level professionals (i.e. non-partner level) and will provide a great opportunity to connect, share insights and expand professional networks. If you are interested in attending, or you know junior/mid-level professionals who may be interested, the registration link is below.
11/03/2024
UK Cryptoasset Regulation – 2023 developments and what’s to come in 2024...
2023 will be remembered as the year the cogs of the UK legislative and regulatory machine finally began to crank meaningfully into gear in relation to cryptoassets, with a raft of legislation, consultations...
11/03/2024
CMS advises Flagstone on £108m investment from Estancia Capital Partners
International law firm CMS has advised fintech company Flagstone on a £108m investment from US private equity firm Estancia Capital Partners. Launched in 2015, Flagstone has grown to become the UK’s...
07/03/2024
The new UK Private Intermittent Securities and Exchange System or “PISCES”...
On 6 March 2024, the UK Government published a consultation relating to a new type of share trading platform, referred to as a “Private Intermittent Securities and Exchange System” or “PISCES”. ...
06/03/2024
FCA sends Dear CEO letter to firms in warning over money laundering failings
The Financial Conduct Authority (“FCA”) has sent a Dear CEO letter (the “Letter”) to Annex 1 Firms warning them about common failings found in their ability to prevent money laundering, terrorist...