Response to new regulation

Advising energy trading companies and potential e-money issuers on dealing with new regulation affecting their activities, including:

• the impact on the business
• how to deal with the Financial Services Authority
• the action needed to comply with the new regulatory requirements
• the subsequent structure of the UK operations.

Lobbying

In relation to issues arising out of EMU, advising various banks and financial institutions, including the official adviser to an EU Central Bank, on:

• the changes needed to proposed EMU legislation
• interpreting the legislation
• lobbying trade bodies and EU institutions (including the European Commission) to change the draft legislation.

Regulatory breaches

Advising on various breaches and potential breaches of regulatory requirements including advice on dealing with UK and overseas regulators and remedial action to be taken following a breach, including advice to a global banking group on:

• the implications for the UK operations of criminal offences having been committed in other jurisdictions
• review of systems and procedures of the UK businesses.

Regulatory review of business

• Reviewing businesses following regulatory breaches and/or failure in systems and controls and recommending remedial action.
• Carrying out regulatory and documentary healthchecks for a range of financial services institutions - for instance, work with risk management departments to assess internal treasury operations, internal procedures, and the role and responsibilities of senior management.

Corporate social responsibility and financial education of consumers

Advising on financial education of consumers in relation to the promotion of retail financial services products and advice given in respect of those products.

New businesses

Advising on the establishment of various new businesses (from scratch and by acquisition) - for example, the establishment of a standalone UK internet banking operation, including:

• advice on savings, credit and mortgage products
• sharedealing activities
• arrangements with non-financial institution partners for providing other services.

Corporate strategy review

Advising a US-based financial institution on the establishment of a European banking operation to complement its existing activities in the retail financial services sector.

New products

• Advising a UK banking group on the rollout of products in various countries worldwide, including:
• advice on local regulatory requirements
• adjustments to the products to make them suitable for the local markets
• advertising
• marketing and sales strategies.
• Working with retail financial institutions to develop mortgage, savings and credit products to be sold direct, through intermediaries and over the internet.

Capital management

• Capital-raising - advising financial institutions on capital, own funds and financial resources requirements, including tier 1 and tier 2 capital structures.
• Capital treatment of products - advising on large exposure exemption and credit-risk mitigation for transactions (netting and collateralisation), including: lease structures, netting for group treasury arrangements, defeased transactions.

Reorganisations

• Advising on the reorganisation of various financial services groups (including banking groups, mortgage companies and broking businesses) in numerous jurisdictions, with advice on the structure of the group, the regulatory issues involved, the mechanics and methods of transfer and the implementation programme.

Particular examples include:

• acting for an international banking group on a dual-listed company structure (the forerunner of the structure used by an international banking group for its 2002 listing)
• the transfer (in six weeks) of all assets and liabilities of a European bank's UK operations and co-ordination of advisers in other countries.

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The information contained in this website does not provide, or purport to provide, specific advice relevant to particular circumstances and Ruth Finch accepts no liability for any loss or damage that may be suffered or incurred as a result of any person relying on any such information.

© Ruth Finch 2009