In-house lawyers—risk management—financial services

Copyright © 2025 LexisNexis
Published by a LexisNexis Financial Services expert
Practice notes

In-house lawyers—risk management—financial services

Copyright © 2025 LexisNexis

Published by a LexisNexis Financial Services expert

Practice notes
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How to use this Practice Note

The terms and definitions used in this Practice Note match those used in the financial conduct authority (fca) Handbook and Prudential Regulation authority (PRA) Rulebook (together—the Regulators). Companies that are authorised, or seek to be authorised, by the Regulators are referred to in the Rulebook and Handbook as 'firms'. For consistency this term is utilised throughout this Practice Note. A full definition of the term 'firm' can be found in the FCA and PRA Glossary.

This Practice Note is divided into two parts and will allow you to:

  1. •

    decide if your firm is conducting a regulated activity and therefore requires authorisation or a variation of an existing permission

  2. •

    follow the process for obtaining authorisation or submitting an application for a variation of an existing permission

The risk for in-house lawyers

The provision of financial services and products is no longer the preserve of banks and building societies. Due to an expanding and highly competitive market, particularly in relation to the provision of consumer related retail products, it is now

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Risk management definition
What does Risk management mean?

A system which identifies, assesses and prioritises risk and identifies resources to minimise, monitor and control it.

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