Insurance

We can, if there’s something especially novel about it; it’s unusually complex; or there’s a reason to think it might be rejected. If there isn’t, you probably don’t need a law firm, but you might need a compliance consultant.

If the compliance consultants need legal advice about something, we certainly help with that.

We can also help if the regulators ask you to get legal advice about an issue, before sharing this advice with them. For example, the regulators sometimes ask applicants (a) to get legal advice, which explains why they need to be authorised and regulated, and which particular regulated activities they need to be authorised for; and/or (b) to get a legal opinion, which confirms the regulatory capital status of their shares, and any other financial instruments they might have issued. Advice like that is right up our street.

Yes we frequently act for both firms and individuals who are addressing complex issues under the SMCR.

We frequently advise firms on how to comply with the SMCR when complex and sensitive issues arise. Our work includes advising on how to conduct internal disciplinary processes on an SMCR compliant basis. We do this by deploying our expertise in both the regulatory and employment law fields. We can ensure that firms meet their PRA and FCA regulatory obligations whilst acting on a fair and appropriate basis as an employer.

Equally, we can act for individuals who may be subject to internal investigation or are seeking to join a new firm as a Senior Management Function (SMF) holder, or as a certified staff member. We are experienced in dealing with difficult issues and the implications that can arise in respect of adverse regulatory references. We are also able to represent and support individuals who may be subject to investigation for breaches of the FCA’s Code of Conduct (CoCON) provisions.

If you need to know what a particular PRA or FCA rule means; or whether particular arrangements are rule compliant, we can help. If you need help working out how best to respond to questions from the regulators, we can help with that too. We can’t help with routine compliance activities, compliance monitoring, compliance auditing or the detailed design of new systems and controls. We may, however, be able to introduce you to a compliance consultant who can.