FCA Regulation

Operating under FCA regulation means managing obligations that are detailed, wide-ranging and subject to regular change. Our solicitors advise firms and individuals on the full range of financial services compliance, from authorisation and permissions through to financial promotions, AML and enforcement support.

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What FCA regulation looks like for your firm

The FCA regulates firms differently depending on the permissions they hold and the customers they serve. Consumer duty introduced a new standard of care for retail customers. SMCR placed personal accountability on senior individuals. Financial promotions rules have tightened significantly. Each change carries compliance implications that need working through at a firm level. Our solicitors work with financial services firms across Manchester and the UK to understand those obligations, build the frameworks to meet them and provide clear support when the FCA asks questions.

How our solicitors help with FCA regulation

Advice across the full range of FCA regulatory obligations, from day-to-day compliance through to authorisation, financial promotions and financial crime.

FCA Compliance

Ongoing advice on meeting your FCA obligations, including the Code of Conduct, consumer duty, SMCR responsibilities and your firm’s internal compliance frameworks. Our solicitors help regulated firms build compliance arrangements that hold up under FCA scrutiny and adapt as the regulatory environment changes.

FCA Authorisation

Support for firms applying for FCA authorisation or seeking a variation of existing permissions. Our solicitors advise on the application process, what the FCA expects to see and how to present your application effectively. We also advise FCA appointed representatives on their obligations under principal firm arrangements.

Financial Promotions

FCA rules on financial promotions are detailed and the consequences of getting them wrong are serious. Our solicitors advise on the approval process, what the FCA expects from firms communicating with retail customers and how to review existing marketing materials to confirm they meet current requirements.

AML (Financial Sector)

Financial services firms are subject to the Money Laundering Regulations as well as FCA rules on financial crime. Our solicitors advise on AML policy frameworks, customer due diligence, suspicious activity reporting and how to respond if your financial crime controls are questioned by the FCA or HMRC.

What this means for your firm

  • FCA obligations managed proactively rather than reactively
  • Authorisation and permissions support that reflects how the FCA assesses applications
  • Financial promotions reviewed and approved before they go out
  • AML frameworks that meet FCA and HMRC expectations
  • Regulatory investigation support from the point of first contact

When to seek FCA regulation advice

  • You are applying for FCA authorisation or varying your permissions for the first time
  • Your firm has received correspondence from the FCA that requires a response
  • You need to approve a financial promotion and want to confirm it meets FCA requirements
  • A senior manager is joining or leaving, and you need to manage the SMCR implications
  • Your AML controls have been questioned, or you want to review them before they are

Meet the Founder

Marium brings 22 years of experience advising regulated firms and financial services businesses on FCA regulation, compliance frameworks and regulatory investigations across the UK and internationally. A solicitor regulated by the SRA (ID: 277854), MCIArb, and DIFC Courts mediator, she founded MAR Legal to give businesses direct access to senior legal advice without the cost and overhead of a large consultancy.

Marium Razzaq - Solicitors in Manchester
Marium Razzaq
Solicitor & Director Mar Legal
MCIArb

Why firms choose MAR Legal for FCA regulation support

Solicitor Led Advice

FCA regulation advice delivered by solicitors who understand how the regulator thinks and what it looks for.

Fast Response

All enquiries responded to within one working day and work delivered to agreed timescales.

Fixed Fee Pricing

Clear pricing on compliance reviews, authorisation support and financial promotions approval before work begins.

Commercial Focus

Regulatory advice shaped around how your firm operates.

Trusted by financial services firms and regulated individuals across the UK for clear, practical advice on FCA regulation and financial services compliance.

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How our FCA regulation process works

01

Initial Consultation

We discuss your firm’s regulatory position, identify the relevant FCA obligations and confirm exactly how we can help.

02

Advice and documentation

We provide written advice, draft or review the required policies and frameworks, and identify any gaps in your current compliance arrangements.

03

Implementation support

We work with your team to put the right processes in place and ensure the individuals responsible understand what is required of them.

04

Ongoing compliance support

For firms requiring continued input, we provide regular compliance reviews, regulatory updates and support as your obligations evolve.

What Our Clients Say

FCA Regulation FAQs

FCA regulation means meeting your ongoing obligations under the FCA handbook based on the permissions your firm holds and the customers it serves. That covers how you treat customers, communicate with them, manage your senior managers, maintain financial crime controls and respond when things go wrong. The FCA expects firms to demonstrate compliance at any point, not just when they are being reviewed. Getting that right requires active compliance management, not a set-and-forget approach.

Yes. If you carry out regulated financial services activities in the UK, you must be either directly authorised by the FCA or operating as an appointed representative of an authorised firm. Carrying out regulated activities without authorisation is a criminal offence under the Financial Services and Markets Act 2000. What counts as a regulated activity is broader than many businesses assume, and if you are uncertain whether your activities require authorisation, taking advice before you start is the right approach.

Consumer duty sets a standard requiring firms to deliver good outcomes for retail customers across four areas: products and services, price and value, consumer understanding and consumer support. It applies to all firms with a material influence over retail customer outcomes, including manufacturers and distributors of financial products. If your firm serves retail customers in any capacity, consumer duty almost certainly applies and the FCA expects firms to evidence their compliance position rather than simply assert it.

Financial promotions must be fair, clear and not misleading, and most must be approved by an FCA-authorised firm before being communicated to retail customers. The rules apply broadly to any communication that invites or induces someone to engage in a financial services activity, including digital content, social media and email. The FCA has significantly increased its scrutiny of financial promotions in recent years and has powers to require immediate withdrawal of promotions that do not meet its standards.

Financial services firms carrying out certain activities fall within the scope of the Money Laundering Regulations and are subject to FCA supervision for AML purposes. Firms are expected to have a written AML policy, a nominated officer, client risk assessments and ongoing due diligence procedures in place. The FCA has made clear that inadequate financial crime controls are a priority enforcement area, and firms that cannot demonstrate a functioning AML framework face significant regulatory risk.

An FCA investigation typically begins with a request for information or documents under its investigative powers. Firms must cooperate and respond within the timeframe given. The investigation may close with no further action, be resolved through a regulatory settlement including financial penalties and public censure, or result in enforcement action. The FCA’s enforcement process can take months or years, and the way a firm engages at the outset has a significant bearing on how the matter develops and what the outcome looks like.

Our solicitors advise on both. For firms going through the authorisation process, we advise on what the FCA expects to see and support you through the assessment process. For authorised firms, we provide ongoing FCA regulation support covering compliance frameworks, financial promotions, AML and regulatory change management. The two often go together, firms that get the right advice at the point of authorisation tend to find ongoing compliance more manageable as their business grows.

MAR Legal provides advisory and documentation support on FCA regulation and financial services compliance matters. Where a matter involves regulated representation before the FCA or the Financial Services Tribunal, we work alongside appropriately regulated professionals.