With the FCA rule book 10,000+ pages financial services regulation can be a minefield even for established businesses. In addition, consumer credit in the UK has seen a myriad of changes in recent years including those required under the EU Consumer Credit Directive.
Our experienced Financial Services Team has strong links with a number of financial services businesses and a wealth of experience, especially in the consumer finance sector. We have advised lenders, brokers and debt collection agencies as well as a number of trade associations (including the Association of Finance Brokers, the Consumer Credit Association and the British Cheque and Credit Association) in relation to all aspects of the Consumer Credit Act 1974.
The Team has a broad client base including lenders, brokers, debt collections agencies, insurance intermediaries, mortgage lenders, brokers, stockbrokers, land banking schemes and private equity providers and provides advice on a complete range of Financial Services legal advice including: CCA, FCA Regulation, Payment Protection Insurance (PPI), anti-money laundering, and data protection.
We often undertake corporate acquisitions and reorganisations of financial services providers which requires detailed assessments of risk via exhaustive due diligence on debt books and compliance issues (for example, assessing the enforceability of credit and PPI agreements).