Browne Jacobson LLP

Financial Services

Jeremy heads Browne Jacobson’s financial services and insurance regulatory practice, part of the firm’s broader offering to clients in the Financial Services and Insurance markets.
Jeremy’s practice covers both prudential (capital) and conduct regulation for risk-carriers (including banks, insurers and reinsurers) and intermediaries (including brokers, investment advisers and managing general agents).  His practice is primarily focused on strategic advice for clients’ boards as well as their compliance, legal and risk functions.  Central to this practice is advice on the growing regulatory requirements as to environmental, social and governance (“ESG”) sustainability and responsibility.

A principal area of advice is the regulatory risk management of strategic projects – both in terms of value protection (eg dispute resolution involving competitors, or former counterparties or employees), and growth / value enhancement (eg corporate deals and commercial ventures).  The advice involves the effective handling of regulators’ actual or prospective responses to the aims, methodologies and outcomes of such projects, and especially the handling of internal inquiries and investigations, and resultant regulatory notifications.  Jeremy frequently advises on issues arising from firm authorisations, changes in control, challenges to capital adequacy (in terms of capital requirements, allocation, typology and values), cross-border business, appointed representative and other delegation / distribution arrangements, and senior manager approvals.

Products and sectors on which Jeremy advises include consumer credit, derivatives, funds, general and life insurance (in particular on the UK implementation of ‘Solvency 2’ and the ‘Insurance Distribution Directive’), payment services and electronic money.

Jeremy is the head of our financial services regulatory practice. This practice advises on prudential (capital) and conduct regulation across a range of industries including banking, claims management, consumer credit, derivatives, funds, general and life insurance, payment services and electronic money, and securities.

Jeremy primarily focuses on strategic advice for clients’ compliance, legal, risk and sustainability functions in relation to regulators’ BAU and enhanced supervisory activity, such as risk management programmes and skilled person reports, and enforcement activity. Jeremy advises extensively on ESG issues, especially firm culture and governance.

Jeremy’s work includes corporate growth projects (e.g. M&A and strategic partnerships) and value protection (e.g. dispute resolution involving competitors or former counterparties or employees). This involves matters such as: firm authorisations; changes in control; capital adequacy; cross-border business; appointed representative and other outsourcing or distribution arrangements; investigations and notifications; senior manager approvals, structures and responsibilities; and whistleblowing.

Jeremy frequently advises in relation to the ‘regulatory perimeter’ and the potential need for authorisation, exemption or additional permissions. These issues have the potential to attract criminal liability and financial crime risk.