About Financial Services Law
It’s the known unknowns and the unknown unknowns that make Financial Services such a fascinating and challenging area of law. Advising clients in the here and now, or helping them plan ahead, how are you sure you haven’t missed something?
Financial Services Enforcement Database
Our Financial Services Enforcement Database includes hundreds of FCA, PRA and PSR enforcement actions. Searches can be filtered by multiple criteria such as rule breach, saving lawyers time and money.
FCA Consumer Duty
Our resources enable customers to stay updated with key developments. Materials include details on the rules and guidance, analysis, sectoral implications, a timeline, and checklists on key compliance issues.
Key developments and horizon scanning
Our current awareness offering includes daily, weekly and intraday alerts. We have a suite of comprehensive horizon scanners and timelines on many topics, enabling lawyers to stay on top of regulatory changes
Sustainable finance and ESG
Sustainable finance and ESG are becoming increasingly important for financial institutions and their lawyers. Our practical guidance, summaries, timelines and toolkits help practitioners navigate this complex area
Topics We Cover
Our Financial Services Experts
Dan Jones
Neil Jepson
James Henson
James Burnie
Guy Wilkes
Latest Financial Services News
The Financial Stability Board (FSB) has published a report analysing the vulnerabilities in non-bank commercial real estate (CRE) investors,...
The Financial Conduct Authority (FCA) has published its 2025–2030 strategy, outlining a five-year plan in which it aims to deepen trust, rebalance its...
The European Securities and Markets Authority (ESMA) has published its final report setting out draft Regulatory Technical Standards (RTS) concerning...
The Council of the EU and the European Parliament have provisionally agreed to amend the EU Central Securities Depositories Regulation (CSDR)...
The Financial Action Task Force (FATF) has announced revisions to Recommendation 16 (R.16) of its Standards—commonly known as the ‘Travel Rule’—to...
Latest Financial Services Practice Notes
Developments in the regulation of UK investment funds and asset managementThis Practice Note provides a high-level overview of key UK legal and...
UK EMIR—essentialsThis Practice Note explains the key elements of Assimilated Regulation (EU) 648/2012 (UK EMIR) and covers: (1) the clearing...
Introduction to UK sanctions compliance for financial services firmsThis Practice Note provides an overview of the UK financial sanctions legal and...
Brexit—implications for data protection [Archived]ARCHIVED: This archived Practice Note provides information on the Data Protection, Privacy and...
Challenging UK sanctions designations under SAMLA 2018This Practice Note explains how designations made under the UK domestic sanctions regime under...
Latest Financial Services Precedents
Unsecured employee loan agreement—company and employee—short-formThis Agreement is made on [insert date]Parties1[insert name of employee borrower], of...
Sustainability glossary terms (The Chancery Lane Project)These Precedent sustainability definitions, produced by The Chancery Lane Project (TCLP) as...
Retained EU law—training materials [Archived]ARCHIVED: This Precedent has been archived and is not maintained.These training materials consist of...
Environmental Targets for a Limited Partnership Agreement (Stella & Flora’s Clause) (The Chancery Lane Project)This clause consists of amendments and...
Joint and several liability clause1Joint and several liability[Except for clauses [insert],] the liabilities and obligations of [insert names of...
Latest Financial Services Q&As
Featured Financial Services content
Financial Conduct Authority—Principles for Businesses (PRIN)
Financial Conduct Authority—Principles for Businesses (PRIN)This Practice Note explains the Principles for Businesses (PRIN) set down by the Financial...
CMA identifies Monzo's breaches of Retail Banking Market Investigation Order and secures agreement for corrective action
The Competition and Markets Authority (CMA) has identified several breaches by Monzo Bank Limited (Monzo) of the Retail Banking Market Investigation...
Insurance conduct regulation—COBS and ICOBS
Insurance conduct regulation—COBS and ICOBSThe Financial Conduct Authority Handbook (FCA Handbook) includes sourcebooks to regulate the conduct of...
Second charge mortgage regime
Second charge mortgage regimeSecond charge mortgages definedA regulated second charge mortgage is a loan secured on a borrower’s property that is used...
FCA client money rules
FCA client money rulesBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period...
Non-UCITS retail schemes (NURS)
Non-UCITS retail schemes (NURS)This Practice Note explores non-UCITS retail schemes (NURS) and comments on investment powers, key investor information...
Introduction to the UK AML/CTF/CPF legal and regulatory framework for financial services
Introduction to the UK AML/CTF/CPF legal and regulatory framework for financial servicesThis Practice Note provides a detailed introduction to the...
Debt sale and purchase agreements
Debt sale and purchase agreementsThe debt sale and purchase market is an important way for lenders and debt sellers to reduce balance sheet liability....
Consumer Credit Act 1974—early settlement
Consumer Credit Act 1974—early settlementIntroduction to early settlementBorrowers are entitled, at any time, to bring regulated agreements to an end....
Where a lender is required to send notices of sums in arrears on a fixed sum loan under section 86B of the Consumer Credit Act 1974 (CCA 1974) and the customer clears the arrears but leaves default sums outstanding, is the lender required to keep sending subsequent notices of sums in arrears under CCA 1974, s 86B(5)(b)?
FCA Handbook—introduction
FCA Handbook—introductionBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period...
Unregulated collective investment schemes—essentials
Unregulated collective investment schemes—essentialsWhat are unregulated collective investment schemes?In the UK, an unregulated collective investment...
Credit limits
Credit limitsThis Practice Note provides an overview of the rules that apply to credit limits. A borrower will be set a credit limit on the maximum...
Consumer credit agreements—pre-contract requirements
Consumer credit agreements—pre-contract requirementsBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit...
What are regulated activities?
What are regulated activities?Scope of this Practice NoteThis Practice Note explains what constitutes regulated activities under the UK regulatory...
MiFID and non-MiFID business
MiFID and non-MiFID businessThis Practice Note summarises what MiFID business is as the term is defined in the Financial Conduct Authority (FCA)...
Part VII Transfer of Banking Business
Part VII Transfer of Banking BusinessBackgroundAs noted in Practice Note: Insurance business transfer schemes, a regime for transferring portfolios of...
Financial Services Act 2012 [Archived]
Financial Services Act 2012The Financial Services Act 2012 (FSA 2012) received Royal Assent on 19 December 2012 and went into effect on 1 April 2013....
Associated legal terms
Advising
This is the regulated activity of giving advice to a person in his capacity as a potential investor, or agent, as to the merits of buying or selling a particular investment (article 53 of the Regulated Activities Order).
IOSCO
International Organisation of Securities Commission—the international policy forum for securities regulators
Property authorised investment funds (PAIF) (Property AIF)
A PAIF is an open-ended investment company (OEIC), which: • has a business portfolio comprising predominantly real property or shares in UK REITs or non-UK REIT-type entities • meets a number of other conditions as to its ownership, funding and business activities, and • has notified HMRC that it wishes to be subject to the PAIF regime
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