Financial Services Employment & Restrictive Covenants
People risk is seen as one of the principal operational risks in the financial services sector and the effective management of people is an area that the FSA considers to be highly important.
Michelmores has specialists who can support senior management and HR functions in managing people risk. Our lawyers understand how regulated firms operate and what constitutes fitness and propriety to meet the FSA Handbook requirements. Many firms fall foul of procedure or fail to appreciate the regulatory issues involved in taking action against an employee or a self-employed contractor. Michelmores can advise on how these pitfalls can be avoided.
Our services on employment issues include:
- Drafting contracts of employment and contracts for services
- Drafting job descriptions and reporting lines to meet SYSC requirements
- Drafting staff handbooks
- Advising firms on procedures for suspension and termination
- Advising on FSA fitness and propriety
- Advising on the notification process and how to liaise with the FSA
- Advising on approved persons and FSA procedures
- Defending wrongful, unfair and constructive dismissal claims
- Advising on effectiveness of restrictive covenants
- Advising on investigations and grievance/disciplinary procedures
- Defending claims for discrimination and equal pay
- Advising on redundancy and re-structuring
- Advising on business transfers, contracting out and TUPE
- Advising on confidentiality and whistleblowing issues
- Drafting or reviewing remuneration policies to comply with TCF requirements
