Financial Services
Regulatory Advice
The financial services sector is heavily regulated, and it is important that your advisers have a detailed knowledge and understanding of the complex regulatory context in which you operate as an FSA authorised firm.
We have experience of advising a wide range of intermediaries and distributors (IFAs, investment managers, networks, internet aggregators/comparison sites, mortgage and insurance brokers and non-financial services retailers who also sell insurance) and product providers (insurance companies, friendly societies) on the impact of regulation on their activities and the commercial arrangements that they may enter into.
Our focus is on providing practical, commercial advice to FSA-authorised firms that allows you to run your business successfully and in compliance with the relevant rules and regulations.
Areas and examples of our experience include:
- advising on applications for FSA authorisation/variations of permission
- drafting introducer and appointed representative agreements
- advising on arrangements for the distribution of products
- buying and selling regulated businesses
- perimeter advice on the conduct of regulated activities
- FSA disciplinary and enforcement actions against regulated individuals
- money laundering issues and legislation
We also have experience of advising Friendly Societies on the particular issues that affect them, including:
- transfers of engagements
- complaints by members
- new product launches - permission and other regulatory implications
- product literature
For initial advice please contact Alan Hughes on 01392 685266 or email alan.hughes@footanstey.com
Alan also advises credit providers and intermediaries on the related and complex area of consumer credit legislation.
Financial Services Disputes
Our team also advises on contentious financial services issues. Examples of our dispute resolution experience include:
- Complaints handling for regulated firms, including FSAVCs, pension transfer and endowment claims.
- Acting against insurance brokers for failing to notify claims on renewal of professional indemnity cover.
- Dealing with commission clawbacks and restrictive covenants.
- Seeking judicial review of a FOS determination.
- Regulated partnership and company shareholder fall outs.
- Referrals to the FOS and the Pensions Ombudsman.
- Negligent investment advice and portfolio management claims for private individuals and charities.
Our lawyers also have expertise in the related niche areas of pensions and banking litigation.
The most recent editions of the independent directories Chambers and Legal 500 comment on the team and its lawyers as follows:
The firm: A huge regional player... Recent work highlights include advising an animal charity on alleged negligent financial advice and representing a London media company. David Turner arrived in September 2007, to head the commercial litigation team. He brought with him some major clients, including a national network of independent financial advisers, and observers predict a busy future for the firm. Chambers 2009
The lawyers: The "very good" Foot Anstey team is led by David Turner, the " highly effective" Robin Brown and Toby Claridge . The team has strengthened its offering in commercial disputes, particularly banking and financial services cases. Legal 500 2008
For initial advice, please contact:
David Turner on 01392 685219 or email david.turner@footanstey.com.
Jonathan Kitchin on 01392 685246 or email jonathan.kitchin@footanstey.com.
