Felicity Rowan

Legal Director
Contact details

020 7814 6877

Felicity understands the regulator’s mindset and is exceptionally strong in the current FCA hot topic of retail, conduct, consumer credit regulation and culture.

Legal 500, 2017

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 including advising on how to manage adverse disclosures
  • preparation for risk assessments by the FCA
  • assessments of systems and controls against FCA regulatory requirements
  • financial promotions reviews and assessments
  • assessing compliance with the FCA’s Conduct of Business requirements
  • 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
  • advising current CCA licence holders on the transfer of the regulation of consumer credit to the FCA, including on the process for interim and full authorisation and compliance with the FCA’s senior management, systems and controls and Consumer Credit Handbook requirements
  • providing support to the Corporate team on transactions involving FCA authorised entities.

 

Clients

Current clients span retail banks, major insurance companies, a large IFA network, numerous other smaller investment firms and insurance intermediaries and individuals.

Significant experience

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.

Since returning to private practice over five years ago, Felicity has used her knowledge and understanding of the workings of the regulator to bring invaluable insight to her clients.

Felicity recently presented at two well attended seminars run for consumer credit brokers on the implications of financial services regulation when the regulation of consumer credit is transferred to the FCA next year.

 

Expertise

Career

Felicity has had a varied career. She started her working life with two years at the Legal Aid Board.  In 1999 she went to work for a niche criminal defence practice in central London specialising in cases being investigated by the Serious Fraud Office and Customs and Excise. In 2001 Felicity went to work at the FSA’s Enforcement Division where she remained for seven years before returning to private practice in 2008.

 

Contact details

020 7814 6877

Accreditations
Memberships
  • Financial Services Lawyers Association
  • Association of Regulatory and Disciplinary Lawyers
  • Finance and Leasing Association

QUOTES


Felicity Rowen is very well-informed and intelligent.

Legal 500, 2020

Approachable and knowledgeable senior associate Felicity Rowan is highly competent at work in the financial services arena.

Legal 500, 2015

Former FSA alumnus Felicity Rowan has significant expertise within the retail sector.

Legal 500, 2014

Insights by Felicity


articles

14 March - Felicity Rowan

The Financial Conduct Authority (FCA) has confirmed that it intends to go ahead with its proposals to: increase the Financial Ombudsman Service (FOS) award limit; and extend the definition of...

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articles

9 September - Felicity Rowan

On 29 July 2015, the Financial Conduct Authority (FCA) released its Policy Statement (PS15/19) detailing final rules to improve the complaints handling landscape for consumers and FCA authorised firms. PS15/19...

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articles

30 June - Felicity Rowan

The High Court  (slightly) demystifies one of the many vague provisions of the Consumer Credit Act (CCA) in Barclays Bank plc v L. Londell McMillan [2015] EWHC 1596 (Comm) (the Case).  In...

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