Regulatory

Our regulatory team is experienced in advising on all aspects of financial services regulation in the UK, acting both for authorised firms and those seeking advice on authorisation. We have particular expertise in the investment management, private banking, private credit, fintech and cryptoasset sectors, and advise both UK-based firms and overseas firms who wish to provide services to the UK market.

Our service often begins at the very inception of a financial business. This may include advising a client on whether or not their activities require authorisation from or registration with the FCA and PRA, guiding the client through the preparation of the required FCA application forms and business plan and assisting throughout the authorisation process.

We advise regulated firms on compliance with the rules of the PRA and FCA, in particular their conduct of business requirements including the contents of their client documentation, anti-money laundering rules and suitability requirements. We also advise them on their internal obligations such as the senior managers and certification regime and on the obligations the firm owes to the FCA and PRA, such as the FCA’s principles for business and the FCA’s reporting requirements. As a firm’s business develops, we also assist with variations of permissions and change of control applications.

Our clients include funds, banks, non-bank lenders, investment advisers, investment managers and payment firms. Reflecting the breadth of the sector, we are renowned for our experience across the full spectrum of products and asset classes.

Our regulatory practice has expanded as a result of technological innovation. We have advised numerous participants on regulatory issues in the cryptocurrency markets, and our client base also includes a number of fintech firms such as payment service providers and electronic money issuers.

We work alongside our funds colleagues in advising on the regulatory aspects of setting up and managing investment funds and have considerable expertise in the regulation of the marketing of investments and funds to UK investors, particularly those established in offshore jurisdictions aimed at high-net-worth investors.

We advise both regulated and unregulated businesses in relation to their obligations under the UK’s sanctions regime and the Proceeds of Crime Act.

We are also experienced in advising individuals and institutions involved in regulatory investigations by various bodies and subject to regulatory action.