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Financial Services Lawyers

We have specialist Financial Services Lawyers across a variety of our Corporate, Commercial, Regulatory & Compliance, Employment, Immigration and Dispute teams. 

We have many years experience working in the financial services sector across a range of our team on many different legal aspects, from Regulatory & Compliance through to Employment and M&A.

Financial Services Regulatory Services

Regulatory & Compliance Services > 

Our Regulatory and Compliance teams have extensive experience advising household names operating in many sectors in the financial services industry, including high street banks, insurance companies, insurance brokers, pre-paid card providers and independent financial advisors.

We have advised clients operating in the financial services sector at every stage of their corporate life, from:

  • drafting and advising on Financial Conduct Authority applications,
  • associated policies and procedures for businesses just starting out in the financial services sector,
  • assisting long established financial services businesses with their compliance programs and reporting obligations.
FCA Change in Control Assistance

If you wish to increase your control in an FCA-regulated firm (outside of the permitted control bands), or acquire control in an FCA-regulated firm, you will need to obtain prior approval from the FCA. If you fail to obtain prior approval, this is a criminal offence under section 191F of FSMA.

To apply for a change in control, you will be required to submit a section 178 notification. These can be completed for companies or for individuals. In some instances, you may be required to submit both. It is a tricky process to navigate, as you must demonstrate to the FCA that the proposed controllers meet the relevant regulatory requirements. To do so, you will likely be required to produce documentation to highlight the skills and experience the individual or company can bring to the role.

Our regulatory team has experience in submitting successful change in control applications and are able to act as the contact with the FCA, so we can ensure that if there are any follow up questions, these are answered carefully and promptly.

The FCA is currently experiencing long delays in processing change in control applications, and as such, it is more important than ever to make sure that your application is deemed to be ‘complete’ first time around.

We can assist in every step of the process, including the preparation of supporting documents and the submission to the FCA.

Financial Services M&A

Our Corporate team include specialist lawyers able to deal with the technical aspects relating to the sale and purchase of Financial Services Companies. 

PDF: 2021 Financial Services Deal Highlights >

Financial Services Companies have their own unique set of issues, including complex payment mechanisms linked to the recurring revenue of the Company.

Financial Services Companies tend to be governed by the Financial Conduct Authority, and we are able to assist with the applications which need to be made as part of a sale of purchase.

Additionally you often see Appointed Representative Agreements being used post completion of a deal, where a seller remains with the company for a period. We have experience in drafting these to ensure that they comply with the requirements under SUP 12 of the FCA handbook.

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      We are solicitors in Camberley, Wokingham and London. In 2019, Herrington Carmichael won ‘Property Law Firm of the Year’ at the Thames Valley Business Magazines Property Awards, ‘Best Medium Sized Business’ at the Surrey Heath Business Awards and we were named IR Global’s ‘Member of the Year’. We are ranked as a Leading Firm 2022 by Legal 500 and Alistair McArthur is ranked in Chambers 2021.

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