Financial services

We advise firms regulated by the Financial Services Authority (FSA) on all aspects of activity, from obtaining authorisation through all areas of ongoing FSA compliance through to enforcement proceedings. The Regulatory team has particular specialisms in working for London Market insurers and Lloyd's Syndicates, independent financial advisers and wealth management firms, especially the financial services subsidiaries/ divisions of professional firms.

We carry out compliance audits and draft and negotiate compliance documentation and procedures on behalf of insurers, reinsurers, intermediaries, financial advisers, banks, investment houses, corporates and their respective advisers.

Selected directory listings

• "[Jonathan Davies is] widely perceived as a key practitioner on regulatory matters in the insurance market... 'fully committed to his clients and firmly understands their needs and perspective'" - Chambers UK 2013
• "[Jonathan Davies and Richard Burger are] outstanding lawyers" - The Legal 500, 2012 edition
• "[Jonathan Davies is] a recognised leader for regulatory legal expertise in the London and Lloyd’s markets" - The Legal 500, 2011 edition
• "Reynolds Porter Chamberlain LLP's advice is 'spot on'" - The Legal 500, 2009 edition
• "An impressive team" - The Legal 500, 2009 edition

Examples of relevant work

Authorisation

• Acting for an insurance intermediary obtaining FSA authorisation under the Insurance Mediation Directive
• Negotiating with Lloyd's to obtain permission for the establishment of new Lloyd's syndicates
• Obtaining a Small e-money issuer certificate on behalf of Associated Newspapers Limited and the Evening Standard Limited
• Assisting firm on passporting issues

Supervision/Compliance

• Reviewing the complaints procedure of a major IFA network
• Drafting outsourcing agreements for regulated financial services firms
• Assisting an IFA firm in its responses to the FSA's thematic review of pension switching advice, and successfully persuading the FSA not to bring enforcement proceedings
• Assisting firms in their preparation for ARROWs visits, including document reviews and mock interviews with directors and other senior managers

Enforcement/Regulatory litigation

• Acting for firms with complex claims before the Financial Ombudsman Service
• Representing firms in claims/complaints handling arising out of failed investment schemes
• Acting for the former chief executive officer of a substantial financial institution during an FSA investigation management of that institution

For more information please contact Jonathan Davies (jonathan.davies@rpc.co.uk)

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