Financial Services Regulatory overview

Providing expert ongoing advice on ever-evolving financial services regulation

Financial services regulation is going through a period of unprecedented, politicised change where requirements on matters as diverse as liquidity and compensation have been introduced at short notice. We have helped clients deal with measures on short selling, bonuses and bonus taxation, and living wills. The FSA’s more confrontational approach means that our clients look to us to help them prepare for questions and challenges from FSA. Our team have also helped individuals facing market abuse investigations and can advise on how to handle FSA’s approach.

Whether you require advice on whether your business needs to be regulated and assistance with the FSA application to do so, or for an already regulated company, advice on compliance with the FSA's requirements and handling FSA enforcement matters, we can help.

Authorisation involves an ongoing role for us and we can help you get comfortable with your new obligations, assist you to put in place structures to deal with your regulator’s key concerns and advise on the opportunities and risks posed by upcoming changes. Our work ranges from producing legal risk management documents, such as terms of business, to drafting internal procedures to achieve compliance with the FSA’s rules and developing monitoring processes to demonstrate compliance to the FSA.

Our latest alerts, briefings & reports
Nabarro briefings and reports
  • Compliance Clarified - January 2012  
Compliance update January 2012 View full briefing
  • AIFMD – FSA publishes discussion paper on UK implementation  
On 23 January 2012, the Financial Services Authority (FSA) published a discussion paper (DP12/1) on the implementation of the Alternative Investment Fund Managers Directive (AIFMD). View full briefing
  • AIFMD – ESMA publishes its technical advice on implementing measures  
On 16 November, the European Securities and Markets Authority (ESMA) published its technical advice on implementing the Alternative Investment Fund Managers Directive (AIFMD). Taking into account the "framework" nature of the AIFMD itself, ESMA's technical advice has been greatly anticipated as it provides further details and clarity relating to a number of areas covered within the AIFMD.  View full briefing
  • AIFMD - ESMA publishes its technical advice on depositaries  
On 16 November, the European Securities and Markets Authority (ESMA) published its technical advice on implementing the Alternative Investment Fund Managers Directive (AIFMD).
In the second of our briefings on the AIFMD Level 2 technical advice, we examine the outstanding issues in relation to depositaries View full briefing
  • Compliance Clarified - December 2011   
Compliance update December 2011 View full briefing
Externally published articles
  • Payment services - processing of payment timeline  
THOMSON REUTERS ACCELUS - (20 January 2012)
Payment services compliance update: transitional provisions for the processing of payments have now elapsed - contributed by Sam Robinson View full briefing
  • Regulated Covered Bonds  
Bloomberg Law Reports (3 January 2012). UK Financial Services Law - contributed by Adrian Brown and Sam Robinson View full briefing
  • Progress on Key Issues in the FSA Business Plan 2011/12  
Bloomberg Law Reports (5 December 2011). UK Financial Services Law - contributed by Adrian Brown and Sam Robinson. View full briefing
  • FSA telephone recording rules flowchart (from 14/11/2011)  
From March 2009, Financial Services Authority (FSA)-authorised firms have been required to record certain voice conversations and electronic communications. While firms were not required to record such conversations or communications that were made with, sent from or received on a mobile telephone or other mobile handheld electronic communication device, this exemption has been removed from November 14, 2011.
This flowchart summarises the types of conversations and communications that will need to be recorded under the rules in Chapter 11.8 of the Conduct of Business Sourcebook from November 14, 2011 onwards.
(First published by Thomson Reuters on 14 November 2011) View full briefing
  • Impact of the New “Twin Peaks” Structure of Financial Regulation on Enforcement   
Bloomberg Law Reports (7 November 2011). UK Financial Services Law - contributed by Adrian Brown and Sam Robinson. View full briefing
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