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Financial Services Regulatory

Our financial services regulatory practice is wide-ranging and covers both contentious and advisory matters.

Financial Services Regulatory

Investigations and Enforcement

We advise on a wide range of financial services regulatory contentious matters, including:

  • Information requests
  • Internal investigations
  • Announced and unannounced visits (“dawn raids”)
  • Settlement negotiations
  • Regulatory Decisions Committee meetings
  • Upper Tribunal hearings

Recent matters include:

  • Internal investigations
  • Advising on an internal investigation for a bank involving SMF misconduct
  • Advising a director of a listed company on their disclosure obligations
  • Acting for a firm seeking FCA registration as a cryptoasset exchange provider


Transaction regulatory support

We work with our corporate team acting for buyers and sellers on mergers, acquisitions and corporate restructuring to advise on regulatory notifications sand approval processes and compliance risk allocation in transaction documentation.

  • Change in control
  • SPA clauses
  • Legal due diligence review

Perimeter advice and getting authorised

Does your business or commercial activity require PRA and/or FCA authorisation or registration? We can advise on whether or not you fall within the scope of regulation, and assist with any necessary applications.

  • Regulated activities
  • Registration under the MLRs (crypto)
  • E-money and payment services
  • Appointed representative arrangements
  • Advising on interactions with regulators, including FCA and PRA

Advertising and financial promotions

We advise both financial services firms and unregulated firms such as marketing platforms and advertising agencies with financial services clients, on how to comply with regulatory requirements applicable to financial promotions. This complex area of regulation is evolving rapidly in the UK and a series of fundamental changes are coming into force in 2023 and 2024.

  • Advertising policies
  • Rules applicable to specific types of financial promotion
  • Financial promotions requiring approval, and availability of relevant exemptions

Employment and other BAU matters

We advise on regulatory matters arising in the course of your day to day business. Queries we commonly cover concern:

  • SMCR
  • Corporate governance
  • Employment contract terms
  • Remuneration
  • Fitness and propriety
  • Regulatory references
  • Whistleblowing
  • Outsourcing contracts and oversight arrangements
  • Regulatory disclosures

Cryptoassets, AI and fintech

We have a specialist focus on cryptoassets, including NFTs, and advise a wide range of firms son all aspects of legal and regulatory compliance.

Our Clients

We act for a broad range of financial services firms as well as individuals, including:

  • Banks
  • Investment firms and funds (including hedge funds)
  • Payment services and e-money firms
  • Appointed representatives
  • Cryptoasset firms
  • Social media platforms

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19 March 2024

The FCA has recently committed to carrying out enforcement cases more quickly as it seeks to increase the deterrent impact of its enforcement actions.

Financial promotions regulatory horizon scanner

Financial promotions regulatory horizon scanner

12 December 2023

Our financial promotions horizon scanner (below) identifies regulatory changes and updates that are likely to impact firms who offer financial services and products in the UK. The tracker identifies key current and future developments across numerous areas including, anti-greenwashing, social media, high risk investments and cryptoassets.

Non-financial misconduct podcast - The Agenda by Lewis Silkin

New year new standards: will regulated individuals in financial services need to be “paragons of virtue”?

12 December 2023

The Financial Conduct Authority (“FCA”) and Prudential Regulation Authority (“PRA”) are looking to re-emphasise the regulators’ position that non-financial misconduct is misconduct for regulatory purposes. On the agenda by Lewis Silkin, we discuss the fitness and propriety and conduct rules requirements, as well as the forthcoming guidance ahead of the consultation closing date on 18 December.

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07 December 2023

Since the National Security and Investment Act (the NSI Act) came into force on 4 January 2022, one of the criticisms levelled at the legislation has been its broad scope and ambiguity over whether a transaction might be captured by the mandatory notification regime or voluntary notification regime.

FCA publishes long-awaited rules and guidance on anti-greenwashing and sustainability

01 December 2023

The UK’s Financial Conduct Authority (FCA) has published long-awaited guidance on anti-greenwashing and sustainability due to come into effect in 2024.

Financial promotions

Financial promotion exemptions for high net worth individuals and sophisticated investors: HM Treasury publishes its response

15 November 2023

HM Treasury has published its Response to the Consultation: Financial promotion exemptions for high net worth individuals and sophisticated investors (Consultation) which set out proposals to reform exemptions in the Financial Promotion Order 2005 (FPO) relating to high net worth individuals and sophisticated investors.

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