Regulation
Businesses, the world over, are trying to steer a course through the 'perfect storm' that has engulfed them - every pound's a prisoner, every venture is being re-evaluated and every new revenue opportunity is being explored. More often than not, this activity throws up regulatory compliance issues.
We work with insurers, underwriting agencies, captive managers, insurance brokers, claims management companies, IFAs, law firms, retailers and other organisations to provide specialist regulatory advice on their operations across a wide range of insurance, financial services and professional conduct issues.
We continue to be amazed at how many, quite legitimate, revenue opportunities are being turned down for fear of regulation. We see our job as helping businesses to achieve their commercial goals in a way that is compliant from a legal and regulatory perspective so they can take full advantage of the many opportunities the perfect storm has created.
Tempting as it may be to source regulatory advice internally or from a non-lawyer compliance consultant, our experience has shown that:
- Only by instructing an independent law firm can a business secure legally privileged advice - and avoid the irony of an enforcement action based on a non-privileged compliance report;
- Acting upon independent legal advice can provide a prima facie defence or mitigation in an action for rule breaches;
- You may have little or no recourse if your ‘in-house' adviser or non-lawyer consultant gets things wrong; and
- Often an independent legal opinion helps to secure internal "buy-in" to changes that may be required.
To explore how our distinctive approach could benefit your business, please contact Nigel Wallis on 0151 906 1000 or contact us.
