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As part of our sector-focused series, we have curated the key resources and points you need to know from this quarter’s legal updates. Understand the key news stories, practice notes, timelines and upcoming webinars specific to the Financial Services sector.

A post-coronavirus (COVID-19) road map for UK financial services

Law360:  For those of us old enough to remember the pre-satellite navigation era, the concept of a road map conjures mixed memories—agreement over the destination, but arguments about the precise route. Map reading required decisive action and near constant vigilance, but even then, you were never quite sure that you were heading in the right direction. For the financial services industry, the road map for a return to ‘normal’ following the coronavirus (COVID-19) pandemic is no different. Read more…

FCA enforcement risk—The year ahead

Financial Services analysis: In this article, Matthew Banham, partner, and Daniel Natoff, associate at Dechert (with contribution from Craig Watson, trainee solicitor) discuss the Financial Conduct Authority’s (FCA’s) Business Plan for 2020/21 and FCA enforcement risk in the year ahead. Read more…

Deciphering crypto Part 1—an introduction to the issues

In the first part in a legal series on cryptocurrencies, Angharad Hughes and Will Glover, barristers at 3 Temple Gardens, begin their series of articles in the developing area of cryptocurrency regulation by providing an introduction to cryptocurrency and the crypto sector, the current approach in England and Wales and regulation under the Fifth Money Laundering Directive (MLD5). Read more...

Professional Investor Fund (PIF) explained

Financial Services analysis: Melville Rodrigues, senior consultant—Fund Services, Ocorian, who is leading this initiative for a new fund proposal for the UK funds industry, provides an overview of the proposal and outlines his hopes for the next steps of the initiative. Read more...

5 key news stories

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Covid-19 toolkit & blog

Organisations, irrespective of their business type, sector or size, have found themselves in uncharted water with the onset of coronavirus (COVID-19).

There are many common areas of concern for organisations at this challenging time. This has been created to provide in-house lawyers or legal advisers with easy access to news, practical guidance and Q&As from across a number of Lexis®PSL Practice Areas (subject to subscription) that relate to these key areas of concern.

In addition to coronavirus-specific content, this toolkit also highlights additional guidance and support materials of general relevance to each of these areas.

In-house lawyers at financial institutions may find the following resources particularly helpful:

Not a subscriber to Lexis®PSL? See the free resources and information on our Covid-19 blog. For a free trial of our Lexis®PSL product, click here.

Brexit focus - Commercial and practical help

To help you cut through the noise, here are a couple of resources giving you the need-to-know information:

1.  Brexit toolkit

Our Brexit toolkit draws together Brexit content for the practice areas that are relevant for you.

2.  Brexit - Statutory Instruments (SI) tracker

This tracker lists all Brexit-related financial services statutory instruments (SIs), together with explanatory memoranda and other information for each SI, as well as links to primary sources.

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Click here for a free trial of our Brexit Toolkit.

Keeping up-to-date

Key dates you need to know, publications and announcements relating to legal issues in Financial Services.

Click to view individual timelines in the following topic areas:

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Useful resources

Additional toolkits and timelines:

A series of chronological timelines monitoring the latest developments on:

(i) key EU financial services Regulations and Directives ie the creation of Level 1 texts, implementation of Level 2 (ITS/RTS), Level 3 (guidelines) and national implementation where applicable,

(ii) UK financial services regulation,

(iii) Brexit,

(iv) US-related financial services legislation (offering a summary of the legislation and its impact in various jurisdictions), and

(iv) timelines on other significant developments and regulatory regimes which impact financial services firms.

Practice notes give you information you need to hit the ground running on a new topic, or double-check to know the latest information in a area where law may have changed. Practice notes give you the practical guidance and reassurance that you are up-to-date and have covered everything you need to.

The Financial Services team's Essentials guides are a series of Practice Notes containing comprehensive overviews of key topics and/or EU Regulations and Directives covering all major points of interest and recent developments.

The Essentials Practice Notes serve as 'feeder notes' to further LexisPSL practical guidance and news content.

The Financial Services team's One minute guides are a series of Practice Notes containing a quick guide to key topics and/or EU Regulations and Directives. They are intended to get the reader up to speed quickly.

Webinars

Sign-up to upcoming and view on demand:

This year is set to be another year of great developments and challenges in banking and financial services practice and our diverse 2020 programme has been designed with this in mind to give practitioners all the knowledge and tools they will need to succeed.

An update on Fintech is our first webinar of the year, following that we have a free live webinar on the Equator principles.

We will also continue running ‘Brief’ webinars on banking and finance topics in throughout 2020 – be sure to keep your eyes peeled for those!

Get connected…

LexTalk®Financial Services: a Lexis®PSL community

Collaborate and network with a community of expert lawyers

LexTalk® is a new online community forum which gives Lexis®PSL subscribers the opportunity to post questions, hold conversations, participate in discussions and share best practice. It has been designed to provide a secure place for legal professionals to discuss legal developments, offer and receive peer support, and gain a sense of up to date market practice and advances in real-time. You can access and post questions on all of the dedicated practice area forums, including a dedicated community for Lexis®PSL Financial Services.

Click  to sign up and meet like-minded community members, create a profile, connect, share, and start participating today! Alternatively, you can access LexTalk® on the key resources tab on your Practice Area home page.