About Financial Services Law
It’s the known unknowns and the unknown unknowns that make Financial Services such a fascinating and challenging area of law. Advising clients in the here and now, or helping them plan ahead, how are you sure you haven’t missed something?
Financial Services Enforcement Database
Our Financial Services Enforcement Database includes hundreds of FCA, PRA and PSR enforcement actions. Searches can be filtered by multiple criteria such as rule breach, saving lawyers time and money.
FCA Consumer Duty
Our resources enable customers to stay updated with key developments. Materials include details on the rules and guidance, analysis, sectoral implications, a timeline, and checklists on key compliance issues.
Key developments and horizon scanning
Our current awareness offering includes daily, weekly and intraday alerts. We have a suite of comprehensive horizon scanners and timelines on many topics, enabling lawyers to stay on top of regulatory changes
Sustainable finance and ESG
Sustainable finance and ESG are becoming increasingly important for financial institutions and their lawyers. Our practical guidance, summaries, timelines and toolkits help practitioners navigate this complex area
Topics We Cover
Our Financial Services Experts
Dan Jones
Neil Jepson
James Henson
James Burnie
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Latest Financial Services News
The Competition and Markets Authority (CMA) and each of four banks (Citi, HSBC, Morgan Stanley and Royal Bank of Canada) have agreed to settle cases...
The International Capital Market Association (ICMA) has expressed its support of the European Central Bank's (ECB) decision to expand its initiative...
The Financial Stability Board (FSB) has launched a thematic peer review on the implementation of its global regulatory framework for cryptoasset...
The European Securities and Markets Authority (ESMA) has released new and updated questions and answers (Q&As), relating to the European Market...
The Prudential Regulation Authority (PRA) has published its final ‘Approach to Policy’ document in Policy Statement PS3/25, detailing how the PRA...
Latest Financial Services Practice Notes
EU data reporting services providersThis Practice Note provides an overview of the data reporting services providers (DRSPs) regime that was...
EU MiFID II and MiFIR level 2 measuresThe purpose of this Practice Note is to track the status of the level 2 measures required to be adopted by the...
AIFMD—transparency rules and the prospectusThe Alternative Investment Fund Managers Directive (Directive 2011/61/EU) (AIFMD) was transposed into...
UK AIFMD—essentialsThis Practice Note explores key elements of the UK’s Alternative Investment Fund Managers Directive (AIFMD) (Directive 2011/61/EU)...
The effect of sanctions on loan agreementsThis Practice Note looks at:•issues that sanctions can pose on lending transactions•the key provisions of...
Latest Financial Services Precedents
Market Abuse Regulation—Issuer wall–crossing script with confidentiality and no trade conditions and email confirmationsStrictly private and...
Retained EU law—training materials [Archived]ARCHIVED: This Precedent has been archived and is not maintained.These training materials consist of...
Policy—regulatory references1Introduction1.1The Financial Conduct Authority (FCA) and the Prudential Regulation authority (PRA) (together the...
Limited partnership agreement—private fund limited partnershipThis limited partnership Agreement is made on [insert day and month] 20 [insert...
Environmental Targets for a Limited Partnership Agreement (Stella & Flora’s Clause) (The Chancery Lane Project)Additional/Amended Recital:[Name of...
Latest Financial Services Q&As
Featured Financial Services content
The Money Laundering Reporting Officer (MLRO)
The Money Laundering Reporting Officer (MLRO)This Practice Note provides information on the role of the nominated officer and the Money Laundering...
Financial Conduct Authority—Principles for Businesses (PRIN)
Financial Conduct Authority—Principles for Businesses (PRIN)This Practice Note explains the Principles for Businesses (PRIN) set down by the Financial...
Second charge mortgage regime
Second charge mortgage regimeSecond charge mortgages definedA regulated second charge mortgage is a loan secured on a borrower’s property that is used...
Financial Conduct Authority—objectives and principles
Financial Conduct Authority—objectives and principlesThe role of the FCAThe Financial Conduct authority (FCA) forms part of the regulatory structure...
Accepting deposits
Accepting depositsBackground to the regulated activity of accepting depositsUnder section 19 of the Financial Services and Markets Act 2000 (FSMA...
What is electronic money?
What is electronic money?BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period...
Fund management—Cayman Islands—Q&A guide
Fund management—Cayman Islands—Q&A guideThis Practice Note contains a jurisdiction-specific Q&A guide to fund management in Cayman Islands published...
Insurance conduct regulation—COBS and ICOBS
Insurance conduct regulation—COBS and ICOBSBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit...
Non-UCITS retail schemes (NURS)
Non-UCITS retail schemes (NURS)This Practice Note explores non-UCITS retail schemes (NURS) and comments on investment powers, new rules on NURS...
Complying with the collective investment schemes sourcebook (COLL)
Complying with the collective investment schemes sourcebook (COLL)The Financial Conduct Authority’s Collective Investment Schemes Sourcebook (COLL) is...
Different types of short selling
Different types of short sellingShort selling: the two key typesRegulation (EU) 236/2012 (OJ L 86/1) (the EU Short Selling Regulation) came into force...
Where a lender is required to send notices of sums in arrears on a fixed sum loan under section 86B of the Consumer Credit Act 1974 (CCA 1974) and the customer clears the arrears but leaves default sums outstanding, is the lender required to keep sending subsequent notices of sums in arrears under CCA 1974, s 86B(5)(b)?
What are regulated activities?
What are regulated activities?Under the general prohibition a person cannot carry out a regulated activity, or purport to carry out a regulated...
Multilateral Trading Facilities (MTFs)
Multilateral Trading Facilities (MTFs)BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit...
Regulated activities relating to dormant assets
Regulated activities relating to dormant assetsBackground to regulated activities relating to handling dormant assetsUnder section 19 of the Financial...
UK regulation of payment services providers—essentials
UK regulation of payment services providers—essentialsScope of this Practice NoteThe Payment Services Regulations 2017, SI 2017/752 (PSRs 2017)...
Unregulated collective investment schemes—essentials
Unregulated collective investment schemes—essentialsWhat are unregulated collective investment schemes?In the UK, an unregulated collective investment...
Complaints handling by financial services firms
Complaints handling by financial services firmsCORONAVIRUS (COVID-19): The FCA has issued a statement setting out its expectations on complaints...
Associated legal terms
Demands and needs statement
Firms which arrange and/or recommend contracts of insurance for a client must comply with the SRA Financial Services (Conduct of Business) Rules 2001 and provide their client with a demands and needs statement in most cases
Hybrid funds
Funds which use common features from both closed-ended funds and open-ended funds may also have a lock-in period.
Regulated sale and rent back agreements
This is a regulated investment as defined in article 63(J)(3) of the Regulated Activities Order.
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