Regulatory advice

Regulatory authorisations and permissions

Assisting clients with new authorisations and variations of permission and provide related advice including reviewing internal systems and controls.

European/UK regulatory developments

Advised clients on the impact of new and forthcoming financial regulation, including MiFID II/MiFIR. We are experienced at updating legacy client documentation to reflect new regulatory requirements.

Conduct of business

Advised on conduct of business issues arising out of the FCA Handbook, including, the FCA’s rules on best execution, use of dealing commissions and conflicts of interest.

Regulatory compliance

Advised our clients with the creation and implementation of compliance frameworks and programmes, and their evolution in the face of regulatory changes and developments. 

Regulatory scrutiny

Advised clients in connection to their interaction with regulators on a range of issues, including inquiries relating to market announcements, employment issues with a regulatory dimension, and obligations to make reports regarding capital adequacy, suspected rule breaches, money laundering and corruption. We also help to pilot clients through regulatory inspections and to respond to thematic reviews.

Regulatory enforcement

We work closely with our award-winning regulatory litigation team to help guide our clients – both individuals and corporates – through every stage of investigations instigated by both domestic and international regulators, often with a criminal dimension. 

Where appropriate, we advise on challenging the exercise of power by regulators, including by way of judicial review. Our experience includes helping clients to set aside unlawful search warrants and compelled information requirements, and curbed proposed enforcement steps. 

We also assist with the conduct of complex, and often sensitive, internal investigations.

Custody/client money

Advised a number of global financial institutions in relation to complex custody and client money matters, including in relation to issues arising out of the clearing and settlement of derivatives contracts. We advised a leading asset manager on custody and client money issues arising out of the bulk transfer of ISAs and savings accounts. We also recently drafted a template global custody agreement on behalf of an international bank.

Corporate support

Advised on the regulatory aspects of M&A and corporate finance transactions, including in connection with FCA change in control notifications, the financial promotions regime and disclosure under the Disclosure and Transparency Rules.

Remuneration

Advised a Level 1 entity on its Remuneration Policy. We have also assisted clients with provisions for clawback and malus as well as the impact of CRD IV remuneration requirements.

AIFMD/funds

We have obtained cross-jurisdictional approval for various leading US asset managers to market their funds across Europe under the AIFMD including, where necessary, the appointment of depositary-lites.

Contact
Contact

To find out more, drop us a line

SHCapitalMarkets@shlegal.com