Strategic advisory
We support firms in navigating complex and evolving regulatory expectations, translating rules into pragmatic, proportionate and commercially workable strategics, including:
- Regulatory perimeter and permissions analysis – alongside our lawyers, assessing whether activities fall within scope of regulatory regimes and the associated PERG treatment and regulatory structuring.
- Interpretation of FCA / PRA rules and guidance - practical application of SYSC, COBS, BCOBS, ICOBS, PROD, MIFIDPRU, UK CRR, CONC and COCON etc.
- Regulatory strategy design - entry or expansion into new markets and products.
- Board-level advisory – focused on key regulatory aspects, governance frameworks, risk appetite, SMF applications and FCA interview preparation.
- Regulatory engagement strategy, including supporting proactive engagement with the PRA / FCA and preparation for supervisory interactions.
Implementation
We move beyond advice to practical implementation, ensuring frameworks are embedded and operate effectively in practice, not just in policy documents:
- Framework design and build - governance frameworks (Board / Committee structures and composition, MI packs and SMF reporting lines), three lines of defence models and risk management frameworks.
- Policy and procedure development - in relation to: conduct (COBS, PROD, Consumer Duty), financial crime (AML / CTF, sanctions, fraud), prudential (ICARA, Wind-down planning), and operational resilience and outsourcing.
- Control design and testing - clear documentation of control frameworks, aligned to risks, design effectiveness and operating effectiveness testing, and remediation planning and tracking.
- MI and reporting frameworks - Board and Committee MI design, Consumer Duty outcomes monitoring, and risk appetite metrics and key risk indicators.
- Embedding and training - staff training, briefing materials and operational reviews.
- Regulatory change delivery - including horizon scanning, impact assessments and implementation.
Business build and transformation
We support firms through major structural change, from initial design through to execution and regulatory approval:
- Authorisations, variations of permission - new firm authorisations, variations of permission for new products or services, as well as change in control notifications (both Directive and non-Directive firms).
- Target operating model design - design of key regulatory frameworks / processes such as allocation of responsibilities and integration of risk and compliance considerations.
- Group and structural transformation - legal entity structuring for prudential, governance and operational purposes.
- Remediation and transformation programmes - post-review of regulatory-driven remediation, and Skilled Person review readiness and response.
BAU support
We provide scalable, embedded support to strengthen internal capability and manage day-to-day regulation obligations:
- Ongoing compliance advisory - day-to-day rule interpretation and queries in relation to PRA Rulebook / FCA Handbook, as well as providing formal written opinions on material matters, with legal privilege applicable to opinions from our lawyers.
- Monitoring and assurance - execution of compliance monitoring programmes, thematic reviews on select PRA / FCA topics, and independent second line testing.
- Regulatory reporting support - advisory input or review of key regulatory returns under FCA Handbook (e.g. SUP, MIFIDPRU etc.).
- Policies and framework maintenance - periodic reviews and updates to ensure alignment to regulatory change.
- Secondments – provision of resource on secondment to assist clients with regulatory capacity or capability gaps.
Regulatory change delivery
We help firms stay ahead of regulatory change, ensuring timely, efficient and proportionate implementation in the following ways:
- Horizon scanning and impact analysis - under the Regulatory Initiatives Grid, tracking FCA / PRA consultations, policy statements, as well as Skilled Person and enforcement trends, alongside bespoke assessments of the impact of certain proposed changes on firms / sectors.
- Regulatory change delivery - gap analysis versus regulatory requirements / expectations, design and implementation, working collaboratively across the business and functions. This also includes programme management support on complex programmes.
- Embedding and assurance - post-implementation reviews and control assurance and effectiveness testing.
As part of our integrated legal services offering, we also work closely with our Legal colleagues to provide support to firms in relation to non-BAU regulatory / supervisory events, including regulatory supervisory interventions and enforcement investigations, alongside our Skilled Persons service solution [insert link to Skilled Person Reviews page].