Eleanor Wagg
Eleanor is an Associate who advises corporate clients on a range of non-contentious financial services regulatory matters. Her work includes advising on perimeter issues, change in control applications, and compliance with the Money Laundering Regulations (MLRs).
She supports clients in navigating regulatory frameworks and engaging with UK regulators, including the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). Eleanor also assists with the regulatory aspects of corporate transactions, as well as ongoing compliance and risk management for regulated firms.
Practice Area
Panel
- Contributing Author
Qualified Year
- 2025
Experience
- Herbert Smith Freehills Kramer (2020 - Present)
Membership
- Solicitors Regulation Authority (SRA)
Qualifications
- LPC (2023)
- LLB (2021)
Education
- BPP (2022 - 2023)
- King's College London (2017 - 2021)
1 Contributions by Eleanor Wagg
PRACTICE NOTES
UK CCP Special Resolution Regime under FSMA 2023: Stabilisation Options, Statutory Tear-up, Safeguards, Bank of England Powers and Instruments
Background to Financial Services and Markets Act 2023
The Financial Services and Markets Act 2023 (FSMA 2023) delivers significant reforms to the UK’s regulatory architecture for financial services. It cancels retained/assimilated EU-derived rules in this field and empowers HM Treasury, alongside the financial services regulators, to substitute them with measures tailored for UK markets, building on the UK’s established regulatory model (see Practice Note: The Financial Services and Markets Act 2023—essentials). The accompanying Explanatory Notes explain that FSMA 2023 preserves the UK’s status as a competitive marketplace with strong regulatory standards by, among other steps, giving the Bank of England (BoE) new instruments to lessen risks arising from the failure of critical financial institutions. FSMA 2023 obtained Royal Assent on 2 June 2023, yet different provisions commence on varying dates, as indicated in section 86 and in subsequent commencement statutory instruments (SIs). Parts of the special resolution regime (SRR) for central counterparties (CCPs) began to apply from 29 August 2023, although a commencement SI is still awaited for the remaining provisions (see FSMA 2023, s 86 and Financial Services and Markets Act). These changes are intended to be bespoke to UK markets and closely align with the existing regulatory approach...
Restructuring & Insolvency
If you expected to see yourself on this page, click here.
