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Robbie Constance

Head of Financial Services Regulatory // Co-Head of Financial Services Sector, London

Robbie leads our Financial Services Regulatory practice in the UK and is co-head of our Financial Services Sector; supporting our people and our clients with DWF's multi-disciplinary offering across regulated financial services markets.

Experience

Robbie advises on conduct risk and regulation, proposition and distribution, principally in wealth and investment management, including digital / automated (robo-advice / ODIMs), trading and custodian platforms and personal pensions (SIPPs, DB transfers etc). As a regulatory consultant, he advises on business and distribution models, regulatory structures, regulated activities, permissions and the FCA's perimeter and the implementation of new regulation.

He assists with product and service governance and development, terms of business and intermediary agreements and provides day-to-day risk management and compliance advice on systems and controls framework to firms and their Senior Managers. As a problem solver, Robbie helps firms manage systemic risks, dealing with internal investigations and regulatory notifications, responding to thematic and multi-firm reviews, 'close' or 'event' supervision, skilled persons' reviews, and enforcement actions or regulatory litigation.

He has 20 years' experience in dispute resolution, defending firms against claims or regulated complaints and is an expert on the parallel jurisdiction of FOS and its rules, Judicial Reviews of Ombudsmen's decisions, and the liability and regulatory exposures associated with retail investment mis-selling. Robbie supports firms dealing with recurring or systemic problems, mis-selling exposures, 'root cause analysis' and 'past business reviews', customer contact exercises and redress and/or remediation projects.

Recent cases

Robbie has been involved in all the major issues affecting the retail investment market since FSMA came into force. He is currently assisting clients in relation to: DB pension transfers, mini-bonds / speculative illiquid securities, the FCA's ACD / illiquid funds and principal / AR thematic reviews, high risk investments on trading platforms, copy trading and signal providers, 'phoenixing' and non-financial misconduct.

Publications

To Judicially Review or not: Key considerations for challenging the FOS. May 2019.

Defined Benefit Pension Transfer Advisers Beware: Clear and Repeated Warnings. January 2019

Testimonials

Robbie is recognised in The Legal 500 for work in discretionary investment management and robo-advisors in particular.

"As well as his insurance market expertise, the ‘very well-respected and well-connected’ Robbie Constance is also active in the wealth management sector, where his recent work includes a growing number of instructions surrounding the regulatory issues impacting on the burgeoning robo adviser market." Legal 500.

Articles