Adam is a partner at Freeths LLP, and acts for both FCA authorised and unauthorised clients active in the financial services sector. His clients include fund operators and service providers, financial advisors, finance brokers, brokerage firms, insurers and insurance brokers.
Adam has experience advising clients on securing FCA authorisation, varying regulatory permissions and passporting rights. He also advises on ongoing compliance obligations. Where clients wish to offer financial services without FCA authorisation, he can advise on appropriate business structures and solutions. Adam also has experience of supporting clients through FCA investigations and conducting financial services litigation, such as defending mis-selling claims.
Adam’s recent experience includes:
• Advising on the implementation of the FCA’s new Consumer Duty.
• Advising on a range of consumer credit and regulated mortgage contract issues, including on the upcoming regulation of the “Buy Now Pay Later” sector.
• Advising credit brokers and insurance intermediaries on their consumer documentation and sales processes.
• Successfully defending a national retailer in the automotive sector in relation to a high volume of FOS complaints and litigation in relation to mis-selling and secret commission claims brought by various law firms and claims management companies.
• Supporting several funeral plan providers on successfully applying for FCA authorisation, following the sector becoming regulated by the FCA in July 2022, including advising on the structuring of arrangements, all aspects of regulatory compliance and advising on and drafting key documentation, including trust and insurance arrangements backing the funeral plans, the terms and conditions of the funeral plans and key supporting documentation.
• Advising a motorcycle manufacturer on an introducer-appointed representative arrangement with a regulated insurer.
• Advising a London market insurer on managing down its multi-million pound exposure to secondary intermediary policyholders facing potential PPI mis-selling claims.
• Advising a FCA authorised firm on the potential regulatory implications of making interest-bearing loans to employees in order to facilitate the acquisition of shares in the business. Finding a solution that took advantage of a regulatory exemption, to enable the loans to be made at an interest rate the client was comfortable with.
• Assisting a motorcycle manufacturer to establish an “own brand” warranty scheme for used motorcycles. Working with counsel and client to find a compliant, commercially-viable proposition that worked for the manufacturer, its dealers and customers.
• Advising the US SIPA Trustee of Bernard L. Madoff Investment Securities LLC and Bernard L. Madoff in respect of his English and cross-border claims – arising out of the world’s largest Ponzi scheme.
• Acting for a range of client seeking to pursue claims for over on their business interruption policies for losses arising from Coronavirus
• Acting for both lenders and borrowers in disputed lending proceedings