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 Conduct Authority (FCA) has announced that a year on from the introduction of the FCA’s new regulatory regime to protect access to cash...
HMRC has published a technical note on the tax rules for Reserved Investor Funds (RIFs)...
The Prudential Regulation Authority has warned that the rapid growth of Funded Reinsurance (FundedRe) as a source of capital may be benefiting from...
As part of the Treasury Committee’s inquiry on the use of Artificial intelligence (AI) in the UK financial services sector, Dame Meg Hillier MP, Chair...
Law360, Expert analysis: Monzo Bank's onboarding, risk assessment and transaction monitoring were unable to keep up with its rapid growth from 600,000...
Latest Financial Services Practice Notes
UK regulation of credit default swaps—the UK Short Selling Regulation [Archived]ARCHIVED: This Practice Note has been archived and is no longer...
Key dates for Financial Services—horizon scannerThis Practice Note contains a list of key future developments and dates for financial services lawyers...
Treatment of vulnerable customers—essentialsThis Practice Note considers the Financial Conduct Authority’s (FCA) expectations of firms’ treatment of...
Cancellation and withdrawal provisions for consumer credit and hire agreementsThis Practice Note considers the various cancellation and withdrawal...
REITs—tax treatment of the REIT and its shareholdersThis Practice Note looks at the tax treatment of UK real estate investment trusts (REITs or, as...
Latest Financial Services Precedents
Model discretionary investment management agreementThe model discretionary investment management agreement can be found on the Investment...
Time of the essence clause1Time to be of the essence of all clausesEach time, date or period referred to in this agreement (including any time, date...
Unsecured employee loan agreement—company and employee—short-formThis Agreement is made on [insert date]Parties1[insert name of employee borrower], of...
Commencement and term clause1Effective date1.1Effective date (specified future date, date of signature or specified previous date)This Agreement...
Environmental Targets for a Limited Partnership Agreement (Stella & Flora’s Clause) (The Chancery Lane Project)This clause consists of amendments and...
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
Article 67 exclusion
An exclusion applies to the regulated activities of dealing, arranging, safe custody and assets and applies when the regulated activity may reasonably be regarded as a necessary part of other services provided in the course of that business
Equivalence assessment
The process by which the European Commission gathers information and makes a decision with regards to whether or not the financial market rules and supervision of a third country are as strict and comprehensive as those of the European Member States.
Lock-in period
A period when investors are not able to redeem or transfer their interest (shares or units) in the fund.
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