Expertise

Richard is a partner in the Financial Services Regulatory Group in the London office. He assists UK and international clients to navigate the regulatory regime and in their interaction with regulatory authorities. Richard advises clients in connection with the regulatory perimeter, the market abuse regime and conduct of business issues arising out of the FCA Handbook. His clients include financial institutions and corporates, with a particular focus on investment managers and private wealth. Richard has specific experience advising on custody and client money matters.

Experience

  • Investment managers: advising on the AIFMD, including in relation to reporting, disclosures and the marketing of funds.  Assisting on the impact of new and existing regulation including MiFID II and the SM&CR. Updating legacy documentation and systems and controls to reflect new regulatory requirements.  Drafting fund related documentation including discretionary management agreements, operator agreements and key information documents. 
  • Private banks and wealth managers: advising on the regulatory issues impacting private banks and wealth managers, including the SM&CR, money laundering and custody and client money issues. Advising on the establishment, operation and winding up of collective investment schemes.  Assisted a leading wealth manager on the regulatory issues in connection with the transfer out of investment trust ISAs and savings schemes.  
  • FCA perimeter and conduct of business: advising on conduct of business issues arising out of the FCA Handbook, including the FCA’s rules on best execution, use of dealing commissions and conflicts of interest. General FCA perimeter advice. Assisting clients with new authorisations and variations of permission and providing related advice including reviewing internal systems and controls.                                                    
  • Custody/client money: advising clients on custody and client money matters, including perimeter advice on the scope of the CASS rules and the drafting custody agreements.  Provided specific advice on the CASS rules in the context of the design of new financial products.  Assisted clients with CASS compliance matters (both in relation to internal investigations and in respect of FCA investigations).