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
A round-up of financial services developments....
This week's edition of Financial Services weekly highlights includes: FCA opens crypto authorisation gateway and publishes finalised guidance on...
A round-up of financial services developments....
A round-up of financial services developments, including (among other things) FCA opens crypto authorisation gateway and publishes finalised guidance...
The Financial Conduct Authority (FCA) has published Primary Market Bulletin 66....
Latest Financial Services Practice Notes
This Practice Note provides information on the liquidity coverage ratio requirements, set out in the Liquidity (CRR) Part and the Liquidity Coverage...
Investment Firms Prudential Regime (IFPR), MIFIDPRU and the MIFIDPRU Remuneration CodeFor general information on the UK Investment Firms Prudential...
This Practice Note considers the UK prudential framework for investment firms, known as the Investment Firms Prudential Regime or IFPR, as set out in...
The UK securitisation frameworkThe general UK securitisation requirements are principally in the Securitisation Regulations 2024, SI 2024/102, the...
Under article 60B(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 (RAO), entering into a regulated...
Latest Financial Services Precedents
This Agreement is made on [insert date]Parties1[Insert name of party] a company incorporated in England and Wales (under number [insert registered...
[On headed notepaper of PDMR]Strictly private and confidentialTo: [insert name of person closely associated with the PDMR][insert address of person...
[On headed notepaper of issuer]Strictly private and confidentialTo: [insert name of the person discharging managerial responsibility][insert address...
The model discretionary investment management agreement can be found on the Investment Association’s website here. Please note that non-members of the...
1Introduction1.1The Financial Conduct Authority (FCA) and the Prudential Regulation authority (PRA) (together the Regulators) require firms that are...
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
Controlled investment and controlled activity
Investments and activities which are listed in the FPO.
Non-mainstream regulated activities
This describes the regulated activities which authorised professional firms carry on in circumstances where these activities are complementary to a professional legal service.
Redemption rights
Investors in an open-ended fund can redeem their interest (shares or units) in a fund before it is wound up or dissolved in accordance with the constitutional documents of the fund. Subscriptions and redemptions can in some instances be made ‘in kind’ but are usually made in cash. Closed-ended funds do not offer redemption rights but hybrid funds can offer redemptions during a certain period of time, often following a lock-in period.
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