Our expertise

FCA / HMRC supervision and authorisation

We advise housing associations on:

  • determining whether they need to be supervised for AML and exceptions to supervision;
  • determining whether they are liable to pay the Economic Crime Levy;
  • applications for supervision;
  • applications to de-registered and end supervision;
  • mitigating factors and penalties/ fines for late application for supervision.

Consumer Credit

We assist housing associations with all areas of consumer credit regulation and compliance, including:

We have extensive experience on implementing complex restructuring including:

  • applications to the FCA for new or a variation of permission;
  • drafting and updating FCA required policies and procedures;
  • drafting and advising on regulated credit arrangements e.g. for repayment of leaseholder major repair works;
  • reviewing business activities to provide an assessment of regulatory status;
  • reviewing shared equity loans to determine regulatory status;
  • reviewing customer correspondence under credit arrangements to check for compliance.

Senior Managers and Certification Regime

We advise on the FCA’s Senior Managers and Certification Regime, including:

  • providing briefing notes and board reports on the application of SMCR to your business;
  • providing training on the SMCR and Conduct Rules;
  • reviewing client action plans for implementation of SMCR;
  • reviewing or providing draft templates for Statement of Responsibilities, Regulatory References and Fit and Proper assessments.

Consumer Duty

We advise on the FCA’s Consumer Duty, including:

  • providing training on the Consumer Duty;
  • reviewing or providing templates for your Consumer Duty Policy and Consumer Duty Board Report;
  • providing briefing notes on the application of Consumer Duty to your business.

HMRC / FCA Interventions

We advise clients under scrutiny including:

  • Targeted HMRC investigations;
  • Responding to Supervisory Notices;
  • VREQ/OIREQ;
  • Skilled Person appointments;
  • Challenging, appealing and mitigating fines.

Money Laundering

We advise extensively on the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, assisting clients with:

  • AML risk assessments;
  • Policy implementation and review;
  • Suspicious Activity Reports to the National Crime Agency;
  • Ad hoc advice on transactions of concern;
  • Regulator engagement.

Criminal Defence

We advise clients subject to criminal investigations and proceedings brought by HMRC, the CPS, CFO or NCA under, amongst others:

  • Taxes Management Act 1970;
  • Customs and Excise Management Act 1979;
  • VAT Act 1994;
  • Proceeds of Crime Act 2002;
  • Fraud Act 2006;
  • Companies Act 2006;
  • Bribery Act 2010;
  • Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017;
  • Criminal Finances Act 2017.

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020 7628 7576

www.devonshires.com