We can, but you might not need us.
We usually advise on regulated consumer credit issues, if (for example):
- A client is designing a new product, and it needs to know whether there will be regulated consumer credit (or not). If there will be regulated consumer credit, we can sometimes structure the product, to get a different result.
- A client is investing in, or buying, another business and the client needs to understand whether the target is properly authorised, and complying with its legal and regulatory obligations. All too often, we find it’s not, and we’re asked to advise on the risks and consequences of the non-compliance for the target and the acquirer, and the steps that need to be taken to sort things out;
- A client and its business partners are entering into new commercial arrangements which depend on, or include, primary or secondary credit broking; or primary or secondary regulated lending, and want to make sure the new arrangements are lawful, and consistent with their regulatory permissions.
We draft regulated and non-regulated lending agreements; and our colleagues enforce their terms.
Our financial services regulatory team doesn’t advise borrowers, and it doesn’t give routine advice on (for example) the variation or early termination of regulated credit agreements, or the promotion and sale of regulated lending products.