Employment and Employee Benefits

We advise FCA regulated firms on hiring, retention, incentive, exit and outsourcing arrangements both in the UK and abroad in conjunction with iGlobal Law and our overseas law firm networks.

We help clients with employment documentation that complies with relevant regulation, manage conduct and performance issues in the context of regulated businesses, and advising on sophisticated appropriate remuneration structures.

We support firms with contentious issues such as conduct breach investigations, whistleblowing allegations and threats of competitive activity from former employees.

In relation to the Senior Managers and Certification regime we help firms:

  • define legal and regulatory responsibilities of Senior Managers
  • identify staff who come under the regulations
  • identify activities that should not be outsourced
  • manage staff in other jurisdictions
  • train staff
  • manage data protection issues

With regard to the Senior Managers regime we can offer assistance in:

  • reviewing and mapping responsibilities and reporting lines
  • defining job roles, responsibilities and accountabilities in contracts
  • reviewing outsourced contracts and arrangements
  • reviewing and updating HR policies and procedures
  • managing job sharing arrangements

With regard to the Certification regime and the conduct rules generally we advise on:

  • the requirement to confirm fitness each year and how to combine with the firm’s existing processes (particularly appraisals)
  • dealing with poor performance: when does poor performance become a conduct or fitness issue, and how to differentiate between the two
  • investigating suspected conduct rule breaches and other disciplinary issues
  • the consequences of disciplinary action or of concluding an individual is “unfit”
  • ensuring that the roles of HR and Compliance are complementary in relation to investigations or breach reporting
  • legal privilege issues in investigations or disciplinary matters
  • addressing the potential right of employees to have legal representation at internal disciplinaries

We advise individuals on termination provisions; garden leave; restrictive covenants; confidentiality and fiduciary duties; remuneration; long term incentive plans (“ LTIPS”); short term incentive plans (“STIPS”); share options; RSU’s; “sweet” equity and “good leaver/bad leaver” provisions.

We also advise in relation to team moves, working with the team, their new employer and with the head-hunter as appropriate.