Ex-regulator Felicity Rowan, is insightful, proactive and trusted by the regulator.
Specialising in financial services regulation, Felicity advises regulated firms and Approved Persons, private individuals and businesses on financial services issues.
Main areas of practice
She has a detailed, practical understanding of financial services legislation and the FCA Handbook, including perimeter guidance, systems and controls, conduct of business issues and financial promotions. Also retail banking, mortgage and insurance products, commercial distribution arrangements and the structuring and promotion of unregulated collective investment schemes and retail funds.
Felicity also undertakes pre-enforcement and enforcement-related investigatory and defensive work.
She advises on all matters relating to the regulation of financial services, including:
- perimeter enquiries
- FCA authorisation and variation of permission processes
- the FCA’s Approved Persons regime, Senior Managers and Certified Individuals Regime including advising on how to manage adverse disclosures
- assessments of systems and controls and policies and procedures against FCA regulatory requirements
- financial promotions reviews and assessments
- assessing compliance with the FCA’s Conduct of Business requirements
- Appointed Representative arrangements
- early defensive work and advice when regulatory or criminal issues are identified by firms
- representing firms and individuals in regulatory supervision and enforcement investigations undertaken by the FCA and in subsequent proceedings of the Regulatory Decisions Committee;
- complaints and litigation brought by clients and assisting clients to bring complaints against FCA authorised firms
- providing support to the Corporate team on transactions involving FCA authorised entities.
Current clients span retail banks, major insurance companies, investment banks, IFA networks, numerous other smaller investment firms, insurers and insurance intermediaries and individuals.
Felicity gained considerable experience working for the former Financial Services Authority in the Enforcement Division, where she was involved in investigations relating to systems and controls issues and breaches of the FSA’s Conduct of Business Rules. She was also involved in the FSA’s Treating Customers Fairly and Client Money project boards.
Felicity has used her knowledge and understanding of the workings of the regulator to bring invaluable insight to her clients.
- Financial Services Lawyers Association
- Association of Regulatory and Disciplinary Lawyers
- Finance and Leasing Association
"Felicity Rowan is very well informed and intelligent."
"Felicity understands the regulator’s mindset and is exceptionally strong in the current FCA hot topic of retail, conduct, consumer credit regulation and culture."
"Approachable and knowledgeable senior associate Felicity Rowan is highly competent at work in the financial services arena."
Insights by Felicity
The Financial Conduct Authority (FCA) has been discussing and consulting on introducing a new consumer duty since 2017 (delayed because of COVID-19). The idea is that it will build on...Read More
The FCA is placing increasing focus on arrangements where a firm has some responsibility for a third party's actions. These types of arrangements take various forms (some key examples are...Read More
The judgment in the recent high court case of Jackson v Ayles and another  EWHC 995 (Ch) (23 April 2021) is a stark reminder how easy it can be...Read More