Our financial services lawyers offer market-leading insight into the industry, demonstrated by our innovative work on financial products, our support for new technologies and our comprehensive knowledge of the regulatory framework.
We have a particular focus on FCA and PRA regulated clients providing or distributing funds, products or services to retail clients including: fund operators (including UCITS ManCos and AIFMs), investment platforms, wrapper providers (including SIPP operators and ISA managers), financial advisers (including networks), insurance companies and distributors, credit providers and brokers.
Our lawyers have a detailed understanding of a wide range of FS regulatory areas including: the regulatory perimeter; COLL and FUND; conduct of business; MiFID and insurance distribution; cross border activities; financial promotions; client assets and money; reporting and fees; and prudential requirements.
A number of our lawyers have spent time working in-house or on secondment for financial institutions. We also deal with the FCA on a daily basis and have good working relationships with the Investment Association (of which we are an affiliate member). This allows us to respond practically and effectively to regulatory change and to the needs of our clients operating in the sector.
Areas of focus
We have an established international network of preferred firms which allows us to provide a seamless service to clients with an international business model.
- The formation and regulation of retail fund structures regulated by the FCA such as UCITS and NURS (whether structured as OEICs, AUTs or ACSs).
- The provision of segregated portfolio services to institutional and retail investors including the development of new and innovative model portfolio structures.
- The design, development and establishment of new investment services and products, including tax "wrappers" such as ISAs, SIPPs and SSASs, bonds and EIS funds.
- All aspects of compliance with applicable regulatory requirements including the Financial Services and Markets Act 2000 and related legislation and the FCA and PRA Handbooks.
- The distribution of funds and other investment and savings products including drafting and negotiating distribution agreements, intermediary terms of business, appointed representative agreements and platform arrangements. We also advise on regulatory requirements including around product governance in the context of distribution (e.g. oversight of intermediaries), suitability, remuneration and inducements.
- All aspects of consumer credit and regulated mortgage contracts, including compliance with regulatory requirements relating to credit broking, customer on-boarding, affordability assessments, the content of customer contracts, notices and other documentation, and debt collection.
- Advising insurers, insurance brokers and intermediaries on the design, distribution and operation of retail and consumer insurance products. Our services include reviewing policy wordings, advising on claims handling procedures, drafting MGAs and cover-holder agreements and advising on reinsurance arrangements. We also advise on regulatory and compliance matters such as compliance with FCA rules (such as ICOBS, PROD and SMCR) and advising on strategic complaints and FOS claims.
- Advising FCA and PRA regulated firms on market consolidation/M&A, product development , distribution and compliance, disputes/enforcement, data & cyber security, technology and competition.