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Financial Services & Regulation

United Kingdom

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.

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They are reliable and client-friendly and understand the value of being able to reach out to someone you know, for small issues, on a regular basis.

Chambers UK, 2016
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26/07/2021
New SM&CR for FMIs pro­posed by HM Treas­ury
HM Treas­ury is pro­pos­ing to in­tro­duce a Seni­or Man­agers and Cer­ti­fic­a­tion Re­gime (“SM&CR”) for fin­an­cial mar­ket in­fra­struc­tures (“FMIs”) to en­cour­age ef­fect­ive gov­ernance, in­centiv­ise good be­ha­viour...
22/07/2021
5 things to take away from the FCA’s Busi­ness Plan
On 15 Ju­ly, the FCA pub­lished its Busi­ness Plan and set out its key pri­or­it­ies for the year ahead. There is much talk about the FCA’s own in­tern­al trans­form­a­tion pro­gramme and how the or­gan­isa­tion in­tends...
25/06/2021
Cryptoassets and fraud – rem­ed­ies avail­able from Eng­lish courts
In ION Sci­ence Ltd v Per­sons Un­known and oth­ers[1], the Eng­lish Com­mer­cial Court ad­ded to a string of re­cent judg­ments which of­fer ef­fect­ive rem­ed­ies for deal­ing with frauds and thefts re­lated to cryptoassets...
22/06/2021
FCA’s find­ings in­to cryptoasset con­sumer re­search 2021 – what does the...
On the 17th of June 2021, the Fin­an­cial Con­duct Au­thor­ity (“FCA”) re­leased a new pub­lic­a­tion cov­er­ing in­sights gathered from re­search in­to con­sumer at­ti­tudes to­wards the own­er­ship of crypto­cur­ren­cies.[1]...
22/06/2021
PRA pub­lishes draft rules and state­ment of en­force­ment policy for bank...
On 21 June 2021, the Pruden­tial Reg­u­la­tion Au­thor­ity (“PRA”) pub­lished a Con­sulta­tion Pa­per (CP12/21) de­tail­ing its pro­pos­als to ap­ply its ex­ist­ing rules for con­sol­id­ated pruden­tial re­quire­ments and...
16/06/2021
CMS se­cures place in FCA’s reg­u­lat­ory sand­box
In­ter­na­tion­al law firm CMS has been chosen by the UK Fin­an­cial Con­duct Au­thor­ity (FCA) to par­ti­cip­ate in its 2021 reg­u­lat­ory sand­box (the sand­box). The FCA re­ceived 58 ap­plic­a­tions for the sand­box, with...
16/06/2021
Pay for your cof­fee with crypto? In El Sal­vador you can!
The FCA an­nounced on 3rd June 2021 that they were ex­tend­ing the end date of the Tem­por­ary Re­gis­tra­tions Re­gime (“TRR”) for ex­ist­ing cryptoasset busi­nesses from 9th June 2021 to 31st March 2022. On...
14/06/2021
Risk-weight­ing cryptoassets: BCBS con­sults on the pruden­tial treat­ment...
On 10 June 2021, glob­al stand­ard set­ter the Basel Com­mit­tee on Bank­ing Su­per­vi­sion (“BCBS”) pub­lished a con­sulta­tion on the pruden­tial treat­ment of banks’ cryptoasset ex­pos­ures, with com­ments to...
03/06/2021
Con­sumer cred­it in­form­a­tion sheets up­dated by FCA
The FCA has pub­lished re­vised con­sumer cred­it in­form­a­tion sheets on its webpage. In ac­cord­ance with sec­tion 86A of the Con­sumer Cred­it Act 1974, lenders are re­quired to in­clude a copy of the rel­ev­ant...
27/05/2021
Back to the draw­ing board for Amigo: FCA suc­ceeds in chal­len­ging its pro­posed...
The Court (Mr Justice Miles) has re­fused to sanc­tion a scheme of ar­range­ment (the “Scheme”) between ALL Scheme Lim­ited (the “Com­pany”) and its cred­it­ors. The Com­pany is an en­tity with­in the Amigo...
17/05/2021
FCA pub­lishes ‘CP21/23: A new “Con­sumer Duty”’ (owed by fin­an­cial ser­vices...
On 14 May 2021, the Fin­an­cial Con­duct Au­thor­ity pub­lished ‘CP21/13: A new Con­sumer Duty’, its con­sulta­tion on in­tro­du­cing a new “Con­sumer Duty” for fin­an­cial ser­vices firms deal­ing with con­sumers...
12/05/2021
Has the Chan­cel­lor in­tro­duced enough new de­vel­op­ments to make a dif­fer­ence...
In his key­note speech open­ing Lon­don FinTech Week, the Chan­cel­lor of the Ex­chequer, Rishi Sunak, an­nounced a series of new policy de­vel­op­ments re­lat­ing to FinTech. In par­tic­u­lar: the launch of a new FCA...