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, including (among other things) AMLA publishes ITS on FIU co-operation and reporting to the EPPO....
This week's edition of Financial Services weekly highlights includes: FCA consults on Consumer Duty application clarifications; ESAs launch...
A round-up of financial services developments, including (among other things) Partial suspension of the motor finance scheme: FCA sets out...
Law360, London: The Financial Conduct Authority’s £7.5 billion redress schemes for motor finance customers will be partly suspended after the first...
A round-up of financial services developments, including (among other things) Financial trade associations urge EU to use MISP to strengthen...
Latest Financial Services Practice Notes
This Practice Note provides high-level information on the UK prudential regime for banks, building societies and systemically important investment...
Organisations subject to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), SI...
Over the last decades, climate change has become an issue of ever-growing importance. With evolving scientific understanding of the causes of climate...
This Practice Note considers the implications of the Financial Conduct Authority’s (FCA) Consumer Duty for insurers, including consideration of a...
This Practice Note considers the implications of the Financial Conduct Authority’s (FCA) Consumer Duty for insurance intermediaries, including...
Latest Financial Services Precedents
This Precedent memorandum sets out a ‘specimen’ group-wide dealing policy published by The Chartered Governance Institute (formerly known as ICSA: The...
This Agreement is made on [insert date]Parties1[Insert name of party] a company incorporated in England and Wales (under number [insert registered...
This clause consists of amendments and additions to the ILPA standard form Limited Partnership Agreement allowing ESG issues to be investigated,...
This Agreement is made on [insert date]Parties1[insert name of employee borrower], of [insert address] (Employee); and2[insert name of employer...
Strictly private and confidentialWall-crossed investor scriptWe are contacting you to discuss a potential [description of the nature of the securities...
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
Liquidity management tools
These tools include (among others) redemption fees, redemption gates, redemptions in kind (ie by way of assets rather than cash), side pockets and suspension of redemptions. For further information, see: IOSCO’s Final Report on Liquidity Management tools in Collective Investment Schemes: Results from an IOSCO Committee 5 survey to members.
Redemption gate
A temporary measure that limits investors’ redemption rights often during a short period of time in order to prevent a ‘run on a fund’ in stressed market conditions.
Tied agent
An intermediary who is employed by a company and can only promote that company's investment products.
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