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Baker McKenzie

Baker McKenzie is highly experienced in payment services. This is an area with both regulatory and technical complexity – with the fast-paced nature of technology developments often challenging the application of rules. Technical expertise should of course be a given, but to stay ahead of the competition, our clients need lawyers that can go beyond the black letter of these complex rules and who have a deep knowledge of the eco-system. As well as providing technical and legal excellence, we are skilled in assessing the risks and issues involved for businesses as they craft bespoke solutions to comply in a way that also meets commercial imperatives.

Our European payments and financial services team works on a highly co-ordinated basis in delivering advice to clients on the European Union’s Single Market Directives, the European Supervisory Authorities and the conduct of cross border business within the European Economic Area. Our practitioners are used to dealing with issues involving different legal and regulatory systems and fully appreciate the need to take into account requirements of local markets and clients carrying on business in other jurisdictions. We regularly work with clients carrying on cross border business and transacting cross border deals.

Articles

HMT confirms introduction of new financial promotions gateway

On 22 June 2021, HM Treasury (HMT) confirmed that it will take forward legislation to introduce a gateway for the approval of financial promotions of unauthorised persons. Once the gateway is in place, only firms which have successfully applied to the FCA to approve financial promotions will be permitted to approve the financial promotions of unauthorised persons. Compliance with regulatory requirements regarding the approval of financial promotions has been a recent supervisory concern for the FCA, especially in circumstances where the products being marketed are complex and targeted at the retail market, and the FCA has issued a number of letters and publications setting out concerns and guidance for authorised firms approving financial promotions

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