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General regulatory

Our financial services lawyers provide advice to a varied client base of regulated businesses operating in and from the UK. All of our clients benefit from our extensive experience of the legal and regulatory aspects which affect financial services and products, as well as domestic and EU regulatory requirements.

Using our up-to-date knowledge of the financial services sector, we advise on a wide range of issues from perimeter issues, including the need for authorisation, to advice on general conduct of business matters, as well as advice on specialist areas. We frequently draft bespoke client facing documentation for our clients taking account of all relevant law, regulation and best practice.

We are recognised for the breadth and quality of our regulatory advice. We regularly advise on the impact of new regulations such as MiFID II, Payment Services Directive 2 (PSD 2), Alternative Investment Fund Managers Directive (AIFMD), Senior Managers & Certification Regime and its extension to FCA solo regulated firms and Market Abuse Regulation to name just a few. We draft and review investment management agreements, terms and conditions and bespoke product documentation and act on outsourcing arrangements. We also advise on international compliance issues such as FATCA and the Common Reporting Standard.

We act as standing legal adviser to most of our clients and are happy to field smaller one-off queries as well as handling much larger projects.

We provide our clients with regular updates on legal and regulatory updates via briefings and a seminar programme, and also deliver in house bespoke training to our clients.

Regulated lending

We act for many of the leading private banks in London advising them on their lending and security documentation and the rules which apply to lending to consumers. In the regulated arena this includes advice in relation to regulated mortgage contracts and the impact of MCOB, including drafting the ESIS and Offer documentation, together with lending terms and conditions. We also provide advice in relation to lending procedures manuals and supplementary documentation. We often advise on scope questions in particular whether an arrangement is a regulated credit facility and if so under which regime.

Payments and e-money

We advise banks, other payment service providers and e-money institutions on the impact of regulation in this area, including the Payment Services Regulations 2017 (PSRs) and the Electronic Money Regulations 2011 (EMRs). Our work includes drafting terms and conditions covering the provision of payment services or e-money, advising on scope issues such as what is a payment account and what is e-money. We also advise payment service providers and e-money institutions on ongoing compliance with the PSRs and EMRs, including, for example, providing advice regarding safeguarding requirements in respect of e-money. Increasingly, we are providing regulatory advice to new entrants to the payments market, including emerging Fintech businesses.

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