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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
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07/12/2022
NFTs as prop­erty – Singa­pore and the UK
Janesh s/o Ra­jku­mar v Un­known Per­son (“CHEFPI­ERRE”) [2022] SGHC 264 was a land­mark case where the Singa­pore High Court gran­ted a world­wide freez­ing in­junc­tion pre­vent­ing the sale or trans­fer of a...
01/12/2022
Syn­thet­ic LIBOR up­date: 3 month syn­thet­ic ster­ling LIBOR to cease end March...
On 23 Novem­ber 2022 the Fin­an­cial Con­duct Au­thor­ity (the “FCA”) an­nounced that the 3 month syn­thet­ic ster­ling LIBOR set­ting will cease per­man­ently at the end of March 2024. The FCA also launched a...
01/12/2022
Eng­lish High Court hands down first judg­ment on the new ‘crypto’ ser­vice...
The Eng­lish High Court has gran­ted an or­der re­quir­ing a num­ber of crypto ex­changes to provide a vic­tim of fraud with in­form­a­tion re­gard­ing some of their cus­tom­er ac­counts and the where­abouts of the vic­tim’s...
29/11/2022
New code of con­duct for ESG rat­ings and data pro­viders
The ap­pet­ite for en­vir­on­ment­al, so­cial and gov­ernance (ESG) fo­cused fin­an­cial products and ser­vices gath­ers pace. At the same time, fin­an­cial ser­vices firms are un­der in­creas­ing scru­tiny for "gre­en­wash­ing"...
24/11/2022
Un­lock­ing the po­ten­tial of Solvency II?
Few Au­tumn State­ments have been of as much in­terest to in­surers (and an­nu­ity in­surers, in par­tic­u­lar) as the one de­livered by Jeremy Hunt on 17 Novem­ber 2022. With a prom­ise of “un­lock[ing] tens of...
17/11/2022
ESG: A sum­mary of the FCA’s Sus­tain­ab­il­ity Dis­clos­ure Re­quire­ments (SDR)...
The FCA’s long-awaited Con­sulta­tion Pa­per set­ting out its pro­pos­als for the UK’s sus­tain­ab­il­ity dis­clos­ure re­gime (CP22/20) was pub­lished on 25 Oc­to­ber 2022. The up­dated pro­pos­als are ma­ter­i­ally dif­fer­ent...
03/11/2022
CMS bol­ster Fin­an­cial Ser­vices of­fer­ing with part­ner ap­point­ment
In­ter­na­tion­al law firm CMS has bolstered its mar­ket lead­ing Fin­an­cial Ser­vices prac­tice with the ad­di­tion of new part­ner Chris Glen­nie, who joins the Fin­an­cial Ser­vices Reg­u­lat­ory team in Lon­don.Chris...
02/11/2022
Changes to crypto reg­u­la­tion on the ho­ri­zon
On 20 Ju­ly 2022, the Fin­an­cial Ser­vices and Mar­kets Bill (the Bill) was in­tro­duced in­to Par­lia­ment. The Bill is the largest piece of fin­an­cial ser­vices le­gis­la­tion for over two dec­ades and cov­ers a wide...
21/10/2022
Token­ised Funds Series: Pa­per 5 – Op­er­a­tion­al & Cy­ber Re­si­li­ence Im­plic­a­tions
CMS has pub­lished a series of pa­pers in col­lab­or­a­tion with the IA. These pa­pers ex­plore the ba­sics of token­ised funds, the reg­u­lat­ory con­sid­er­a­tions, and pro­spect­us dis­clos­ures that may be ne­ces­sary...
14/12/2022
Cur­rent Is­sues in Con­ten­tious Fin­an­cial Reg­u­la­tion - Part 4
Apo­lo­gies, but the wrong re­gis­tra­tion link was used in the pre­vi­ous in­vite. If you would like to re­gister for this event, please use the cor­rect link be­low.Some­times things don’t go to plan and when...
30/11/2022
Cur­rent Is­sues in Con­ten­tious Fin­an­cial Reg­u­la­tion - Part 3
Apo­lo­gies, but the wrong re­gis­tra­tion link was used in the pre­vi­ous in­vite. If you would like to re­gister for this event, please use the cor­rect link be­low.Some­times things don’t go to plan and when...
16/11/2022
Cur­rent Is­sues in Con­ten­tious Fin­an­cial Reg­u­la­tion - Part 2
Apo­lo­gies, but the wrong re­gis­tra­tion link was used in the pre­vi­ous in­vite. If you would like to re­gister for this event, please use the cor­rect link be­low.Some­times things don’t go to plan and when...