The extensive changes in financial services regulation during 2013/2014 have created new challenges for all involved in the area. Our Financial Services Compliance team, which combines the expertise of our FCA and CCA specialists, is able to advise the full range of affected clients on the practical steps required to make sure they are compliant with all relevant issues, including items such as Data Protection Act (DPA), Anti-Money Laundering (AML) Legislation and Bribery Act requirements, as well as general FCA rules and guidance.
Specific areas include:
Our financial services compliance clients include:
We also provide advice on regulatory issues, including FCA, CCA, DPA and AML compliance, to numerous commercial providers of goods and services who are involved on the periphery of financial services, whether as funders for their own products or as credit brokers.
Examples of where our advice has recently proved invaluable to our clients include:
Two experienced solicitors have joined our London based Banking and Finance team to strengthen its position as a leading firm.
A look at the FCA's newly published report and consultation on the regulation of crowdfunding.
We highlight the the recently proposed new rules on how platforms will be funded.
We provide an update on the delayed consultation paper on the new regulatory regime for Consumer Credit.
We consider the recent FSA announcement that it had reached an agreement with Barclays, HSBC, Lloyds and RBS to provide appropriate redress where mis-selling of IRSAs has occurred.
Richard considers the changes recently issued by the OFT to the consumer credit licencing regime.
Richard Humphreys looks at the Government's decision to give some consumer credit licence holders a rebate of their licence fee.
On the whole, CONC appears to reflect the majority of the existing CCA Regulations and OFT guidance. However, there are some things to watch out for!