Financial Services Regulatory
Providing financial services guidance with a global view
Every day, your team tracks market and regulatory changes to help you make business decisions. Keeping up with regulatory system changes around the world can be a fulltime job. You watch for and react to regulatory developments across wholesale markets, funds regulation, ESG, use of data and cybersecurity and fintech and payments. Regulatory intervention, investigations and enforcement matters have also become increasingly cross-border. You need advisors that can advise on multijurisdictional issues across your business.
Our Financial Services Regulatory practice advises global financial institutions and companies that offer financial products. We handle the most complex and high value regulatory, risk management and compliance issues around the world. Our experience includes US and EU financial services legislation and UK divergence and approaches driven by the Financial Stability Board, the Bank of International Settlements, IOSCO and the International Association of Insurance Supervisors.
“Our close connections with regulators in the US, Europe and around the world allow us to help you stay connected and informed.”
We help you assess regulatory issues affecting the viability of your institution and your investments, anti-money laundering compliance, board governance and senior executive responsibilities, and investigations and enforcement actions. We help clients handle regulatory processes for group reorganizations, asset transfers and matters affecting insurers, non-bank lenders and other financial institutions. We assist with the regulatory requirements in matters including the recovery and resolution of financial institutions.
Our close connections with regulators in the US, Europe and around the world allow us to help you stay connected and informed. Our team includes financial regulatory lawyers with significant experience from both in-house roles and working for regulatory bodies. We regularly advise and assist regulatory bodies and financial market infrastructure clients.
- Advised ING Bank and collaborating firms on the regulatory implications and build-out of Project Pyctor – a decentralised permissioned network that aims to provide digital asset safekeeping and transaction services (with a focus on regulated security tokens issued either on private or public blockchain).
- Assisting the UK FCA with assessing change in control applications. Under section 178, FSMA, persons who decides to acquire or increase control over regulated firms require pre-approval from the UK regulators.
- Advised two Indian public sector banks - Syndicate Bank and Canara Bank - on the UK aspects of a merger ordered by the Government of India.
- Advised one of the world’s leading online banks on the appropriate legal treatment of cryptocurrencies. Following this, we were appointed to advise on the restructure of this business.
- Advised the Limited Partnership Advisory Committee (LPAC) of this Fund (ANAF II) in the context of the high-profile unwinding of the investment business of The Abraaj Group. This was part of a wider appointment on a number of Abraaj funds, the majority of which have now transferred to new management.
- Acting for a former Group Executive of one of the Big 4 banks in relation to an the Australian Securities and Investments Commission (ASIC) investigation concerning AML/CTF issues, and also in relation to a range of issues following the Hayne Royal Commission
- Advising a global multinational risk management, insurance brokerage and advisory company relation to global IT outsourcing project involving c. 93 jurisdictions. This involved advising on UK and EU outsourcing requirements, coordinating advice outside the UK and preparing a draft notifications to regulators.
- Advising Bank Leumi Israel on all relevant banking law aspects in connection with the sale of its entire participation in Bank Leumi Romania to First Bank, controlled by U.S. investment fund J.C. Flowers & Co., in a process of restructuring its international presence.
- Advising a US conglomerate on the restructuring of its financial services arm in Germany.
- Advised a multinational bank on the reorganisation of its agency securities lending business including ensuring regulatory compliance with UK, French and other European local laws.
- Advising an international bank’s project to set up regulated branches in various European countries. Our team worked with a combination of regulatory and corporate lawyers to provide solutions to the Dutch-headquartered, regulated entity.
- Advising a major bank on the financial services regulatory arrangements necessary to integrate a private bank and their clients into the bank. The transaction relates to USD10 billion of client assets.
- Advising a French crowdfunding platform on its regulatory requirements.
- Advising one of the main Spanish digital banks in the establishment of a branch in UK.