Stephen works with banks, lenders, payment providers and retailers to enable them to stay on top of regulatory change impacting the banking and payments industry. Using his experience working on secondment at two UK banks, Stephen helps clients launch new products, carry out compliance reviews of, and implement regulatory changes to, their existing business. Stephen also brings his regulatory knowledge to support clients with entering into commercial and transactional arrangements, including debt portfolio acquisitions and disposals, and Part VII banking business transfers.
Stephen's knowledge and experience help him to understand the operational difficulties that regulation can cause, assisting clients to identify issues early and implement practical solutions which meet the challenges of overlapping regulation.
Stephen regularly advises on issues arising under sector specific regulation including the Consumer Credit Act, the Payment Services Regulations, BCOBS, CONC and MCOB as well as the impact of unfair terms, consumer rights, data protection and AML on the financial services sector.
Areas of Focus
Supporting UK banks with compliance reviews of their regulated consumer credit lending products.
Assisting two UK banks with transfers of banking businesses under Part VII of the Financial Services and Markets Act.
Advising a number of clients on issues arising under the Payment Services Regulations and the impact of the Second Payment Services Directive.
Assisting a UK bank with its potential purchase of a portfolio of regulated mortgages.
Advising a lender on the potential disposal of an unregulated loan portfolio.