Regulation

Businesses face an increasing burden of regulation, which is being more extensively monitored and aggressively enforced than ever before. Non-compliance has serious consequences both for the businesses and those who work in them. Our specialist teams are adept at providing prompt, focused and commercial advice and support to avoid the pitfalls.
  • Profile
  • Experience
  • Key contacts

Our regulatory practice has many facets, and is able to advise on regulation in all its manifestations. We have a strong banking and financial services capability, experienced in providing advice in areas including regulatory reporting, authorisation and approval applications, and the implications of the new senior managers regime.

Our regulatory compliance team advises on all aspects of the PRA and FCA conduct of business rulebooks, with particular experience in matters relating to client assets and custody, giving support to our diverse corporate teams. We advise on FCA and PRA supervisory visits.

Our renowned regulatory litigation team, which includes former prosecutors and regulators, has been at the forefront of the highest profile FCA investigations and enforcement actions over many years. It acts for individuals and corporates, and undertakes advocacy when appropriate.

The team also advises on business crime and corporate criminal liability over a wide spectrum. It has had significant involvement in all the high profile SFO investigations since that office was established in 1987 and the CMA, and increasingly finds itself dealing with cases having an international element, particularly with the US Department of Justice.

We advise in other areas of corporate liability, including consumer protection and health and safety. We act in professional standards and disciplinary matters.

"Responsive and highly effective in their handling of a range of complex issues." 

The Legal 500 UK 2020

Regulatory reporting

Advising institutions on compliance with obligation to make reports regarding capital adequacy, suspected rule breaches, money laundering and corruption.

Supervisory visits and section 166 FSMA 2000

Piloting clients through a regulatory inspection and their response to thematic reviews.

Conduct of business

Advising on financial service regulatory aspects of corporate transactions, and business issues arising out of the FCA and PRA Handbooks, including best execution, dealing commissions, conflicts of interest and client assets.

Authorisations and applications

Assisting in difficult applications for authorisation and approval to undertake business, including authorisation under the financial services legislation.

Senior manager responsibilities

Advising on the implications of the Senior Managers Regime established by the Banking Reform Act 2013.

Systems and controls failures

Representing senior executives in relation to allegations of systems and controls failures in the LIBOR and FX businesses, and following the crash in the UK banking sector in 2008.

Sanctions

Advising on the implications for transactions of the sanctions legislation; litigating the legality of sanctions legislation; obtaining relevant government licences.

Financial crime

Representing individuals under investigation by the FCA and the SFO, including several individuals involved in proceedings relating to the manipulation of LIBOR and collusion in the G10 FX Spot market.

Remediation

Acting for financial institutions in relation to selling issues concerning retail products and the design of schemes of arrangement to provide redress.

Policies and procedures

Advising on and drafting policies and procedures to secure compliance with regulatory and corporate governance requirements, including those required under the banking legislation, the Money Laundering Regulations 2017, the Bribery Act 2010, and similar legislation.

Lawyer

Tony Woodcock Partner

T:  +44 20 7809 2349
M:  +44 7825 625 903 Email Tony | Vcard Office:  London

Latest news & insights

07 Nov 2019

From Insights

Regulatory focus on directors of listed companies – specific issues to be aware of

Companies act through their directors and all directors of listed companies should be aware that the Stock Exchange and the SFC are increasingly making a priority for ..

More

04 Jul 2019

From Insights

Raphaels falls foul of the regulators' outsourcing requirements once again: how to avoid the regulators’ glare and what lies ahead

In November, we updated you on the FCA's decision to fine Liberty Mutual Insurance Europe SE £5.28 million for failing to properly oversee the insurance claims and com..

More

12 Jun 2019

From News

Justin McClelland joins Stephenson Harwood as partner

Law firm Stephenson Harwood LLP has strengthened its contentious regulatory and economic crime practice with the arrival of partner Justin McClelland, who joins the fi..

More

09 May 2019

From Insights

SM&CR Extension: issues for solo-regulated firms to consider as implementation date approaches

From 9 December 2019 47,000 FCA solo-regulated firms will become subject to the Senior Managers and Certification Regime ("SM&CR").

More

09 Apr 2019

From Insights

香港证监会因保荐人失职开出史上最高罚款

2019年3月14日,香港的证券及期货事务监察委员会(“证监会”)针对上市申请中保荐人的失职行为开出史上最高罚款。所有该等失职行为均由证监会认为的尽职调查不足所引发。

More

03 Jan 2019

From Insights

FCA fines for AML failings: important guidance for CEOs and boards

On 4 December 2018 the FCA published a Decision Notice in respect of Mohammed Ataur Rahman Prodhan, imposing a fine of £76,400 on the former CEO of Sonali Bank (UK) Lt..

More

20 Dec 2018

From Insights

Update on litigation privilege

2018 has seen a flurry of cases concerning the ambit of legal professional privilege, in particular the scope of litigation privilege, including the high profile Court..

More

30 Nov 2018

From Insights

Cyber and Technology Resilience – future supervisory and enforcement focus

On 27 November 2018, the FCA published a report summarising its findings from an in-depth survey into the technology and cyber capabilities of 296 firms. The report hi..

More

06 Nov 2018

From Insights

Key messages from the SFC’s new regulatory framework on virtual asset management, fund distribution and trading platform operation

It was reported by the Financial Stability Board that crypto-assets, such as bitcoin and ether, reached an estimated total market capitalisation of US$830 billion on 8..

More

05 Nov 2018

From Insights

Large insurer joins the list of firms to fall foul of the FCA's outsourcing requirements

In recent times, outsourcing in the financial services sector has been a firm focus for the FCA.

More

22 Oct 2018

From Insights

Developments and trends in FCA enforcement (webcast 2018)

Ellen Gallagher takes a look at the trends emerging from FCA enforcement action against firms and individuals over the last year and looks forward to consider what the..

More

25 Sep 2018

From Insights

Disclosure of privileged documents ordered in regulatory investigation: ground-breaking High Court decision

In what "is believed to be the first application of its type to have reached the courts", Arnold J granted an order requiring Sports Direct International PLC to disclo..

More

17 Sep 2018

From Insights

Extra-territorial document requests: the long arm of the law just got longer

Amid the hubbub of the Court of Appeal's decision in Serious Fraud Office v Eurasian Natural Resources Corporation[1], another important judgment involving the Serious..

More

12 Sep 2018

From Insights

Privilege and Investigations: Court of Appeal restores ambit of litigation privilege

In Director of the Serious Fraud Office v Eurasian Natural Resources Corporation Ltd [2018] EWCA Civ 2006, the Court of Appeal overturned an earlier ruling of Mrs Just..

More

22 Aug 2018

From Insights

SARs: a need for change, but in which direction? - the Law Commission consults

This alert examines the key topics raised in the Paper, and sets out the various proposals that the Paper puts forward.

More

10 Aug 2018

From Insights

The new Enforcement Decision Making Committee

On 3 August 2018, the Bank of England (the "Bank") published the Policy Statement "PS/EDMC2018" to establish the Enforcement Decision Making Committee (the "EDMC").

More

print-footer
logo
© Stephenson Harwood LLP 2016. Any reference to Stephenson Harwood in this document means Stephenson Harwood LLP and/or its affiliated undertakings. Any reference to a partner is used to refer to a member of Stephenson Harwood LLP.