Agenda
Policing in-house counsel
The Financial Conduct Authority (FCA) launched a consultation in January on whether in-house lawyers at finance houses should be policed under the incoming Senior Managers Regime, in an attempt to clarify uncertainties regarding the overall responsibility of an in-house legal function under FCA’s rules. Bringing lawyers under the regime, designed to boost accountability in the City, could potentially usher in yet another front for finance counsel and conflict with the professional regulation of solicitors.
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