Retail financial services covers consumer-facing banking and related products, such as accounts, loans, mortgages, card services, payments, investments and insurance distribution. A solicitor in this area helps clients review, draft and negotiate consumer-facing agreements, assess compliance with the Financial Conduct Authority rules and the Financial Services and Markets Act, and respond to regulator investigations or disputes with banks and product providers. They also handle complaints, claims of mis-selling, and disputes over terms, pricing or eligibility.
What a solicitor handles in these matters
The solicitor handles the formal terms, conditions and regulatory frameworks that govern consumer credit, payment services and financial promotions, including drafting standard terms, reviewing disclosures, and managing investigations or disputes that arise from the interaction between a consumer and a financial services provider.
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