Independent external advice for professional services
Specialist advice on regulatory requirements and risks
We regularly support professional service providers to navigate their legal and regulatory responsibilities. Members of our team have experience working at professional services firms (including the Big Four) and at regulators, giving us a deep understanding of the regulatory and legal environment in which professional services firms operate.
Firms that provide services to the financial services sector may be seeking to understand their regulatory footprint as regulators are increasingly bringing unregulated service providers in scope of their rules. We advise on the obligations arising from regulators’ increasing focus on operational resilience in relation to both financial institutions and service providers.
Services
Our services include advising in relation to:
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Why instruct Norton Rose Fulbright?
> Market insightsWe have a broad view of common practices across the professional services market due to our diverse client base. |
> Protected adviceBy establishing legal privilege, our advice will be protected from disclosure. |
> Depth of experienceWe understand the issues which arise when managing regulatory risks and balancing internal sensitivities, and can help you navigate these complexities. |
> Full-serviceOur global multidisciplinary team of contentious and non-contentious lawyers and risk consultants enables us to provide a broad range of advice across all key jurisdictions. |
- Advising an international professional services company on the impact of UK sanctions with respect to Russia on various areas of its business, including consulting, accounting and auditing services.
- Advising an accountancy firm in relation to an internal investigation into concerns raised by a number of individuals, primarily relating to the culture of the firm. This involved conducting a fact-finding investigation regarding the extent to which there was any substance in the concerns raised and considering recommended next steps to address the findings.
- Advising a listed company in relation to enquiries from the FCA and the FRC following a report by an environmental charity which raised a number of concerns regarding the adequacy of that company’s climate-related disclosures in its annual report and accounts. Both the FCA and the FRC closed their enquiries with no action being taken against the company.
- Advising a manufacturing group following a confidential report made to the SRA regarding the professional conduct of a member of the client’s legal team, including in relation to expense claims made by the individual. We provided a detailed response to the SRA’s enquiries and successfully secured the closure of the SRA investigation with no further action being taken.
- Representing a legal services provider in connection with a multi-regulator investigation concerning potential regulatory breaches arising from its insurance-related activities. The case required consideration of complex technical issues such the interaction between FCA and SRA requirements and privilege attaching to the firm’s internal and client communications in the context of an investigation relating to the provision of legal services.
- Advising an accountancy firm in relation to its reporting obligations to the National Crime Agency and FCA in respect of potential criminal offences and regulatory breaches committed by a FTSE 100 listed entity that the firm had audited before being made aware of the potential misconduct, specifically in relation to the firm’s reporting obligations under POCA, the FCA Handbook and the FSMA Auditors Regulations 2001.
A superb world class firm with outstanding ability at all levels.Financial services: Contentious, Legal 500 2023
Financial Services: Global Regulation Tomorrow
Helping you keep track of the evolving and increasingly complex global financial services regulatory environment.
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