This book explains how to deal with legal, compliance, and enforcement issues faced by banks and other financial institutions and their legal advisers. It focuses on the practical application of the generally applicable regulations and rules under the Financial Services and Markets Act 2000 governing the financial services sector as it changed and developed during and after the financial crisis. The book considers the key changes made by the
Financial Services Act 2012 and the Financial Services (Banking Reform) Act 2013 as well as policy developments brought about by the change in regime from the Financial Services Authority to the
Prudential Regulation Authority and Financial Conduct Authority. Guidance is given on the application and enforcement of the rules taking all relevant sources into account including speeches and announcements by regulatory authorities, policy documents and pronouncements, practice developments, court cases, tribunal decisions, and enforcement proceedings. Providing real insight into the practical, legal, and policy issues affecting all dealing with the post-crisis
regulatory environment, this book is essential for all advising on legal matters, compliance and enforcement in the financial sector.
This book explains how to deal with legal, compliance, and enforcement issues faced by banks and other financial institutions and their legal advisers. It focuses on the practical application of the generally applicable regulations and rules under the Financial Services and Markets Act 2000 governing the financial services sector as it changed and developed during and after the financial crisis. The book considers the key changes made by the
Financial Services Act 2012 and the Financial Services (Banking Reform) Act 2013 as well as policy developments brought about by the change in regime from the Financial Services Authority to the
Prudential Regulation Authority and Financial Conduct Authority. Guidance is given on the application and enforcement of the rules taking all relevant sources into account including speeches and announcements by regulatory authorities, policy documents and pronouncements, practice developments, court cases, tribunal decisions, and enforcement proceedings. Providing real insight into the practical, legal, and policy issues affecting all dealing with the post-crisis
regulatory environment, this book is essential for all advising on legal matters, compliance and enforcement in the financial sector.
1: Background, Sources, and Structure
2: General Orohibition & Specified Investments
3: Specified Activities & Exclusions
4: Regulators
5: Authorisation
6: Individual Approval
7: Rules & Principles
8: Prudential Regulation
9: Conduct Regulation
10: Marketing
11: Supervision and Powers
12: Enforcement
13: Financial crime
14: Redress
Simon Morris is a solicitor who has been a Partner at CMS Cameron McKenna LLP since 1988, and is a member of the firm's financial services group, advising financial institutions on a broad range of matters. He is a Commissioner of the Jersey Financial Services Commission and a member of the City of London Law Society Regulatory Committee.
Any practitioner seeking to give advice on the numerous complex
issues that relate to the many branches of financial services
business faces a real struggle to find the answers that clients
need. Dr. Morris has provided us with a compact but through summary
of the key issues in this field, which hands the reader an
excellent guide to finding the information needed.
*Dr. Edward J. Swan, Partner, Elborne Mitchell LLP*
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