FINANCIAL REGULATION
LAWYERS

We are recognised as one of the leading building societies and mutuals teams in the UK. We advise more than 30 of the UK's 42 building societies, as well as numerous other clients in the wider mutuals sector both in the UK and beyond, including mutual deposit-takers, mutual insurers, major employee owned mutuals, friendly societies, co-operatives and credit unions. 

Our experience includes working closely with regulators, participating in industry working groups and helping to shape legal and regulatory change affecting the sector.

Visit the Building Societies and Mutuals page

We have one of the most well-established payments practices in the market and have worked on the some of the highest profile and innovative payments projects of the last decade. 

Our lawyers frequently advise payment service providers, technology companies, retailers and banks on a range of payments systems, payment methods (including cards and alternative payment methods), and the underlying infrastructure that supports and connects the payments value chain.

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Our clients span a variety of market sectors and our work covers the full range of products, from consumer credit and mortgages to current accounts, savings and retail investments. We also have a growing payments practice covering pre-paid products and payment technologies, merchant acquiring and other payment services.

We strive to make complex legislation understandable and provide workable solutions to all our clients. Understanding the market, the business drivers and the regulator means that we deliver compliance creatively and practically.

Our clients include leading banks, building societies, credit card providers, debt collectors, debt purchasers, debt management companies, brokers, payday loan providers, home credit lenders and point of sale finance providers. We also advise smaller niche lenders of financial services providers, such as specialist private banks.

We provide regular publications to our clients that allow them to stay up-to-date on developments in the consumer finance industry. AG is a member of, and active participant in, trade associations, and we also organise regular meetings of the Consumer Credit Forum which brings together specialists from industry and private practice.

Our Regulatory Risk and Compliance support four key sectors:

Retail Banking
The decade following the financial crisis has seen significantly greater regulatory intervention upon banks, and the regulatory interventions seem unlikely to slow down. 2018 marks the introduction of Open Banking, IFRS 9, MiFID II and GDPR among other initiatives led by the HM Treasury and the FCA, such as ring-fencing, PPI complaints consultation and the Occasional Paper on Consumer Vulnerability.

Further, the regulatory landscape will also be subject to the political uncertainty of Brexit. An increase in innovation is also creating additional challenges on firms to innovate and modernise themselves while continuing their battle with cybercrime. There is a pressure on retail banks to innovate, increase profits and comply with vast numbers of regulatory legislation. 

We offer a combination of legal and compliance services. We have supported retail banks in a variety of matters that relate to Authorisation, Senior Managers' Regime and Ring-Fencing. We have also provided extensive support in matters relating to remediation or dealing with vulnerable customers. Our wide ranging compliance support is tailored specifically to the client.

Retail Lending
We have combined our industry leading consumer finance legal team with experienced compliance professionals who can help firms navigate their way through the regulatory architecture. We provide effective commercially tailored solutions to your needs.

Our experience includes supporting leading consumer finance providers, including tier one banks, with compliance monitoring programmes, compliance manuals and relevant training. Our experience includes support with consumer finance, such as credit cards, consumer hire agreements and mortgages.

Our tailored approach ensures that our support is exactly what your firm needs. 

General Insurance and Protection
The majority of UK households hold general insurance products and the regulatory environment for this sector has largely remained unchanged over the years. There have however, been commercial pressures upon this sector due to changed consumer behaviour as a result of social media and increased use of technology.

There is, therefore, a pressure on the sector to adapt, provide appropriate products and treat customers fairly, in particular, by being more transparent. 

Our compliance team works in sync with market trends and is aware of the commercial sensitivities with significant understanding of the regulatory obligations. We have vast experience of working on insurance related compliance matters, including assisting firms with the implementation of the insurance distribution directive, assisting firms with remediation work and providing support with ongoing compliance matters.

We have also been involved with related litigation and can provide tailored support, as needed by you.