Banking & deposit takers

Our banking and deposit taking clients include UK small and medium-sized wholesale and retail banks; public and private banks; the UK branches and subsidiaries of Asian, American, European, and middle-Eastern banks; and UK credit unions.

Our banking specialists help banks and other deposit takers to understand and meet their complex and ever-changing regulatory obligations in a commercial, proportionate and timely way.

We specialise in advisory and contentious regulatory work that is complex, sensitive, unusual or “bet the bank” high risk.

Banking & deposit takers experience

• Advised on the admissibility and categorisation of new debt and equity regulatory capital instruments.

• Advised on terms of business for restricted deposit accounts.

• Advised a UK bank on corporate governance, internal systems and controls issues, to bring the bank’s systems into line with current best practice and to allow the board of the UK bank to meet its legal and regulatory obligations, despite the strength of, and the extent of control previously exercised over the UK bank by, its US parent.

• Provided specialist advice on whether certain activities were permitted (or not) under the terms of an existing banking licence, followed by advice on an application for a Variation of Permission to bring ongoing and longstanding licence breaches to an end without triggering enforcement action.

• Advised on internal investigations into actual and potential insider dealing and other forms of market abuse, disciplinary action against senior bankers and reporting to the regulators in a safe, appropriate and timely way.

• Advised on terms of business for eligible counterparty and professional clients, using our client banks’ MiFID II investment services.

• Advised on transactional regulatory due diligence for PEVC funds investing in established challenger banks.