FSA regulation
We provide technical and strategic advice on a wide range of regulatory issues affecting those involved in financial services and insurance, including:
- Applying for FSA authorisation
- Cross border regulation (including EU passporting)
- Exclusions and exemptions
- Regulatory responsibilities, including:
- Systems and controls
- Senior management responsibilities
- Handling client money
- Risk transfer
- Contract certainty
- Reporting requirements
- Approved persons
- Managing conflicts of interest
- Commission/earnings disclosure
- Financial promotions
- Conduct of business
- FSA enforcement action
- Withdrawal of authorisation
- Change of control
- Transaction due diligence
Tempting as it may be to source regulatory advice internally or from a non-lawyer compliance consultant, our experience has shown that:
- Only by instructing an independent law firm can a business secure legally privileged advice - and avoid the irony of an enforcement action based on a non-privileged compliance report;
- Acting upon independent legal advice can provide a prima facie defence or mitigation in an action for rule breaches;
- You may have little or no recourse if your ‘in-house' adviser or non-lawyer consultant gets things wrong; and
- Often an independent legal opinion helps to secure internal "buy-in" to changes that may be required.
To explore how our distinctive approach could benefit your business, please contact Nigel Wallis on 0151 906 1000 or contact us.
