Financial Services Lawyers Association (FSLA)

An association for financial services lawyers, regulators, academics, judges
and policy experts to share ideas about financial services law
and regulation and to socialise with peers.

Latest News & Events

FSLA responds to the FCA’s Consultation Paper CP24/2

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FSLA has submitted a response to the FCA’s Consultation Paper CP24/2 titled “Our Enforcement Guide and publicising enforcement investigations – a new approach”.  FSLA considers that the FCA’s proposal to identify investigation subjects (whether firms or individuals) at the commencement of an enforcement investigation where it is in the public interest to do so, may not deliver on the FCA’s stated objectives namely: to build trust and show the public that the FCA is “on the case”; to educate and deter by being clearer about the types of misconduct which will warrant a formal investigation; and to improve accountability of the FCA by shining a light on the efficiency and pace of its investigations. Our response examines the significant legal and practical challenges which the FCA may face as a result of such a fundamental policy shift and explores some alternative approaches which could enable the FCA to achieve its aims in a proportionate manner which balances the public interest and consumer protection with the irreparable harm which could be caused to investigation subjects (especially where over 60% of investigations are closed with no enforcement action being taken).

Please note: The response as submitted on behalf of FSLA and is intended to capture the overall weight of contributions received from its membership, but the views, thoughts, and opinions expressed in this response belong to the individual authors of this paper (and not for example the author’s employer, chambers, organisation, committee or other group or individual members of FSLA). For the avoidance of doubt, this paper does not contain the views of or purport to make any representations on behalf of any FSLA members who are employed by the FCA, the Bank of England (including the Prudential Regulatory Authority) or any other regulatory bodies.

What can ED&I deliver for financial services?

By | Events, Financial Services Practitioners, Junior Lawyers, Students | No Comments

A FSLA panel discussion at Travers Smith LLP on Thursday 23 May 2024 at 6:30pm

On behalf of the Financial Services Lawyers Association (FSLA), we invite you to attend a panel event which seeks to examine the impact that equality, diversity and inclusion (ED&I) initiatives can have on financial services, and the advisors which service the sector.

We are grateful to the experts who will contribute to the event, including:

Sophie Hulm – CEO, Progress Together 

Progress Together is a not-for-profit membership body which aims to create equity of progression for individuals in the financial services sector, levelling the playing field and ensuring equal access to senior level roles for all, regardless of socio-economic background.

Sarah Minor-Massy – Director – Diversity, Equity & Inclusion, PwC

Sarah Minor-Massy is a trained behavioural scientist with 15+ years of management consulting experience. Sarah helps clients to refine their understanding of their current DE&I challenges, and develop DE&I strategies that are aligned with overall business strategy. Sarah has extensive experience in inclusive leadership development, working with leaders to deepen their understanding of DE&I, connect to the topic on a personal level, increase their confidence and competence to engage with stakeholders, and role model inclusion throughout their organisation.

Rupert Allen – Barrister, Fountain Court

Rupert has a broad commercial and civil practice, and frequently acts for and against regulators in professional disciplinary and regulatory investigations (particularly in relation to solicitors, accountants and matters concerning financial services), including where there are allegations of discrimination and/or offensive communications.    

Natalie Lewis – Partner, Travers Smith LLP

Natalie leads the Fintech, Market Infrastructure and Payments Group at Travers Smith, and is the executive sponsor of the firm’s Gender Balance Group.

Michael Raymond – Partner, Travers Smith LLP

Michael is a partner in the Financial Services and Markets Group at Travers Smith, and an active member of the firm’s LGBTQ+ Group.

A panel discussion will be followed by networking drinks and is open to any lawyers with an interest in financial services and/or ED&I within financial services (including students, private practice lawyers and in-house lawyers).  The event is not restricted to FSLA members.

The event will be hosted by Travers Smith at their offices at 10 Snow Hill, London EC1A 2AL.

The event will start at 6pm and the panel discussion will start at 6:30pm.

You can register to attend at this link.

If you have any queries or special requirements, please contact us at events@fsla.org.uk

We look forward to seeing you on 23 May 2024.

FSLA – Equality, Diversity and Inclusion Working Group

Essay Competition 2023: Winners

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Winners of the FSLA Essay Competition 2023

We are delighted to announce the winners of the FSLA Essay Competition 2023.  The title was: “Can the risks and opportunities of AI in financial services be managed by fine-tuning existing regulation, or is a new approach required?“ 

Congratulations to Ella Higgs-Sharrock, our first placed essayist and winner of the Chris Stallard Memorial Prize.  Ella will receive £1,500 and a legal internship with the FCA.

Many congratulations also to second placed Francesca Jackson (winning £750), and third placed Hubert Florianczyk (winning £500).

We are grateful to our esteemed judging panel, (Professor Eva Lomnicka KC (hon), recently retired Upper Tribunal Judge Tim Herrington, and Tracey McDermott, CBE (Group Head of Conduct, Financial Crime and Compliance at Standard Chartered)), who were impressed with the standard of entries across the board. 

FSLA is grateful to all of the individuals who entered their work.

The top three essays are available to read at the links below, with thanks to our winners who allowed us to share them.

https://drive.google.com/drive/folders/12Ufb8Kzx9238I8GclbEBwDDUb0_dphTO?usp=drive_link

Progress Your Career With FSLA

Financial Services Practitioners

Find out about work and social events, our social mobility and pro bono schemes, and more.

More about Practitioners

Junior Lawyers

Click here for information about events for junior financial services lawyers.

More about Junior Lawyers

Students

Find out about the annual essay competition and our student focused events.

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“In the end, our financial system only works – our market is only free – when there are clear rules and basic safeguards that prevent abuse, that check excess, that ensure that it is more profitable to play by the rules than to game the system. And that’s what these reforms are designed to achieve – no more, no less. Because that’s how we will ensure that our economy works for consumers, that it works for investors, that it works for financial institutions – that it works for all of us.”

(Barack Obama, at the signing of the Dodd-Frank Wall Street Reform and Consumer Protection Act)