Felicity Rowan

Legal Director
Contact details

020 7405 2000

Ex-regulator Felicity Rowan, is insightful, proactive and trusted by the regulator.

Legal 500, 2022

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.

 

Clients

Current clients span retail banks, major insurance companies, investment banks, IFA networks, numerous other smaller investment firms, insurers 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.

Felicity has used her knowledge and understanding of the workings of the regulator to bring invaluable insight to her clients.

 

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 7405 2000

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

QUOTES


"Felicity Rowan is very well informed and intelligent."

Legal 500, 2020

"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

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

Legal 500, 2015

Insights by Felicity


articles

30 June - Felicity Rowan

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...

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articles

10 June - Felicity Rowan

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...

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case-studies

29 April - Felicity Rowan

The judgment in the recent high court case of Jackson v Ayles and another [2021] EWHC 995 (Ch) (23 April 2021) is a stark reminder how easy it can be...

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