Banking (Compliance) covers the regulatory framework governing banks and financial services in England. A solicitor in this area helps ensure firms meet rules set by the Financial Conduct Authority and Bank of England, including anti-money laundering, sanctions, customer due diligence and conduct of business standards. They draft and review internal policies, run regulatory risk assessments, respond to FCA investigations, prepare disclosures, and assist with authorisations, governance, reporting and remediation plans when breaches occur. Outcomes hinge on timely, compliant decision-making and accurate record-keeping.
What a solicitor handles in these matters
The complexity of these matters arises from the interplay of legislation, guidance and regulatory expectations (e.g., FSMA, the Money Laundering Regulations, product governance and sanctions regimes). The solicitor handles policy drafting, risk controls, regulatory reporting, and interface with the FCA, PRA and internal audit, ensuring the bank’s actions align with evolving expectations and avoid enforcement risk.