Michael is a financial institutions lawyer advising clients across the banking and payments industry, from large and established financial institutions to small FinTech start-ups, on new legislation as well as the current direction of travel. He helps to foresee issues and develop commercial solutions, whether launching new products to reviewing existing products and processes for compliance with incoming legislation.
Michael is also able to assist on all sector specific regulation including the Consumer Credit Act, the Payment Services Regulation, BCOBS, CONC and MCOB as well as the impact of unfair terms, consumer rights, data protection and AML on the financial services sector.
He also brings his regulatory knowledge to transactional activities, such as loan portfolio acquisitions, disposals, and outsourcing agreements.
Michael has spent time on secondment in the legal departments of a major UK bank and a global payments company, and previously held a non-legal role at a UK building society. These experiences have provided him with the deep industry knowledge required to provide commercial, practical and timely advice.
Areas of Focus
Advising various institutions on the incoming PSD2 requirements.
Advising a number of banking institutions on the impact of, and compliance with, the Payment Accounts Directive.
Assisting a UK bank with its proposed acquisition of a second charge lending business.
Advising a number of banking institutions on the impact of, and compliance with, the Interchange Fee Regulation.
Assisting with drafting banking product terms and conditions for a major UK bank.
Co-ordinating various multi-jurisdictional reviews for lenders in relation to regulatory compliance and the launch of new products.
Advising a number of FinTech companies on the structuring of their businesses and products to enable them to meet regulatory requirements.
Advising a P2P lender on the launch of a new P2P lending product.