Financial Markets and Regulation

Our Financial Markets and Regulation Team advises a broad range of clients from the UK and internationally on the full scope of issues under the Financial Services and Markets Act 2000 (FMSA) the Financial Services Authority (FSA) regulation and under the Consumer Credit Act. Our clients range from small start-up businesses through to global household names. We advise exchanges and trading systems, banks, payment card and e-money issuers, brokers and traders, investment managers and advisers, hedge funds, fund operators, insurance companies (life and general) and intermediaries and financial advisers. A number of our lawyers have worked in the FSA's General Counsel and Enforcement divisions or at the Office of Fair Trading and several have worked in financial services firms.

We cover a wide range of areas, such as:

  • authorisation and conduct of business requirements, under the FSMA including:
    • establishment, licensing and European passporting of financial services businesses
    • compliance with regulatory requirements
    • documentation and relationships with customers, including terms of business for investment management, securities and futures dealing and retail financial services
    • compliance documentation
    • management of conflicts of interest
  • regulatory capital
  • economic crime issues, including compliance with anti-money laundering/terrorist finance legislation and the FSA's market abuse regime
  • marketing and distribution of investments and financial services including distance marketing, prospectus requirements and FSMA promotion restrictions
  • launch, operating and regulation of investment funds
  • regulatory requirements and due diligence on sales, mergers and acquisitions of financial businesses
  • market infrastructure, including advice to exchanges, clearing houses, governments and regulators in the UK, EU, emerging markets and the Middle East
  • energy and other commodity trading and derivatives
  • netting and risk management
  • in conjunction with our dispute resolution department, advice and representation in respect of FSA enforcement actions 
  • advice on all aspects of retail financial services, such as advertising and distance marketing, unfair terms, consumer credit agreements and other documentation
  • payment services and systems.