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).
Project managing strategic corporate projects
We have extensive experience spanning many years in advising UK and US clients in the financial services sectors on all aspects of corporate law and regulation. Our advice includes everything from corporate governance and compliance issues to M&A, IPOs, fund raisings and takeover bids. By drawing on the firm’s extensive experience of advising on these matters we are able from the outset to give you commercially focussed legal advice to assist you in achieving your goals.
Through an understanding of the sectors in which our clients operate and through our specialist knowledge across core legal sectors, we can deliver solutions which are client led and meet our clients’ commercial needs. We adopt a proactive approach to provide focussed, cost-effective and timely advice, in relation to the challenges and opportunities faced by our clients’ businesses.
Supporting you as a trusted adviser
Our extensive experience acting for FSA-regulated entities includes compliance advice, managing investigations and defending civil and criminal proceedings. We regularly advise in relation to FSA disciplinary proceedings and our experience in this area includes a significant market abuse investigation. In addition, we advise businesses on commercial, corporate and debt recovery issues.
In 2007, we successfully obtained the first FSA authorisation of a Land Banking company. More recently, we have advised a high street retailer on its authorisation application to provide electronic money via a pre payment card scheme. Our consumer finance expertise extends to unsecured and secured lending, fixed sum and running account credit and hire purchase arrangements. We also provide guidance on implementing the regulations made under the CCA, governing such issues as the form and content of agreements, advertising, APRs and early settlement rebates. We regularly draft regulated agreements and approve advertising copy for clients.
"Walker Morris has acted for us since 2008 giving us advice in connection with our dealings with the FSA. We cherish their advice for its direct practical usefulness."