Financial services regulation

They have a strong track record of seeking innovative solutions on behalf of clients.

The Legal 500
Regulatory Compliance

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Penningtons Manches Cooper’s financial services group specialises in all areas of financial services regulation, compliance, disputes and enforcement. With many years of experience in their respective fields, our lawyers focus on delivering advice that is always pragmatic, commercially realistic and technically accurate.

We support banks, insurers and other Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) regulated firms and insurers on business structures and product design, ongoing regulatory compliance, route to market and financial promotion. Particularly known for our expertise in the cutting-edge fintech sector and for assisting peer to peer debt and equity crowdfunding platforms, we can, where appropriate, provide guidance on how to structure businesses to fall outside the regulated financial services regime.

Our team advises on ‘passporting’ and other EU directive rights. We help banks, corporates and financial institutions from outside the EEA to enter the UK and wider European markets; EU based banks and institutions to access the UK market; and UK regulated firms to expand into other European countries. We regularly execute high value cross-border M&A transactions for clients in the regulated financial services sector.

In-depth knowledge of current financial services law, regulatory trends and evolving practices enables us to anticipate how changes may affect our clients’ businesses. We advise regulated firms, and senior executives in their own right, on managing their obligations under the FCA Senior Managers Regime (and where applicable the Senior Insurance Managers Regime and the Approved Persons Regime), including dealing with compliance, recruitment, terms of employment, team moves and disciplinary matters.

Our financial services disputes specialists are able to help firms and individuals pursue and defend regulatory based claims, and to manage investigations and disciplinary actions by regulators.  We have a proven track record in achieving favourable settlements through the courts and by pre-action negotiations. Wider expertise within Penningtons Manches Cooper in areas such as banking and finance; private wealth; enforcement; cyber security;  data protection and international sanctions enables us to offer added value to our clients across the full spectrum of financial services sectors and markets.

We offer expert advice on:

  • UK and EU financial services legislation, regulation and market practice
  • structuring of investments, acquisitions, disposals and outsourcings
  • implementation of new products, technologies and business processes
  • cross-border marketing and selling restrictions
  • HR issues including disciplinary matters, recruitment and dismissals
  • obligations under the FCA Senior Managers, Senior Insurance Managers and Approved Persons Regimes
  • FCA investigations and enforcement
  • claims based on regulatory breaches including group actions
  • UK and worldwide freezing orders

Recent work highlights

Alternative finance solutions

Assisting a number of innovative fintech peer to peer and crowdfunding platforms from initial conceptualisation, fundraising, regulatory structuring and authorisation through to successful live launch.

Redress by the rulebook

Running an investigatory process against several directors of a company authorised by the FCA and an overseas regulator and ensuring that their departure from the firm was carried out smoothly, through agreement, but with the appropriate notifications to the regulators.

Dubious dealings under scrutiny

Acting for a property investment and development group in relation to a competitor’s attempt to manipulate the market and acquire shares at an undervalue.

Related expertise

Penningtons Manches Cooper LLP

Penningtons Manches Cooper LLP is a limited liability partnership registered in England and Wales with registered number OC311575 and is authorised and regulated by the Solicitors Regulation Authority under number 419867.

Penningtons Manches Cooper LLP