Rachpal’s clients turn to her for advice on complex UK and EU regulatory and compliance matters, in particular those relating to cross-border issues. She has for many years counseled overseas banks, payment service providers and consumer credit firms on UK authorization and licensing requirements, as well as on EU anti-money laundering and financial sanctions compliance matters. When clients interact with regulatory agencies, Rachpal provides technical and strategic support on regulatory investigations and breaches.
Rachpal also has extensive experience of advising clients on the regulatory aspects of structured finance and capital market transactions covering EU regulatory capital requirements and securitization risk retention, marketing and listing requirements, and market conduct issues.
Recent representative matters include advising:
- TowerBrook Capital Partners on the acquisition of CarTrawler.
- A European bank as its primary counsel on securitization risk retention requirements under the EU Capital Requirements Regulation within the context of its U.S. transactions.
- The independent compliance monitor of HSBC Holdings plc, who was appointed by the U.S. Department of Justice, the UK Financial Conduct Authority and the Board of Governors of the Federal Reserve System, in connection with a monitorship resulting from a US$1.9 billion resolution of money laundering and sanction violations.
- Investment managers and other financial institutions on the implementation of the EU Fourth Money Laundering Directive.
- A global custodian bank over a multi-year period on the group’s compliance program in relation to FATF Special Recommendation VII on wire transfers.
- A global payment institution on establishing a post-Brexit bank in Europe.
- The Bank of Cyprus in relation to the cross listing of its shares on the London Stock Exchange and the Cyprus Stock Exchange. The listing involved a complex corporate restructuring involving a Cypriot scheme of arrangement and the insertion of a new Irish holding company, cross-border settlement and significant regulatory interaction.
- The Bank of Cyprus on regulatory matters arising out of the bail-in of its bondholders and depositors and the transfer to it of certain of the operations of Cyprus Popular Bank (Laiki).
- A consortium of U.S. government sponsored banks with bonds listed in Europe on the EU Market Abuse Regulation.
Rachpal’s practice also encompasses advising on UK and EU consumer credit and mortgage regulation. She has assisted banks and finance and leasing companies on the development of new products and advising on preparing customer documentation in compliance with the Consumer Credit Act 1974 and the Financial Conduct Authority’s mortgage and consumer credit conduct of business rules.
Rachpal is recognized in The Legal 500 UK 2017 for Financial Services, with sources noting that she “provides ‘very thorough advice’ to clients.”