Skip to content
mutuals and building societies hero image
mutuals and building societies hero image

Mutuals and Building Societies

This experience enables us to take an informed and commercial view of situations and give advice to clients which combines legal accuracy and practical experience.

The practice has advised on a number of market firsts, including the creation of the UK's first 'super-mutual' under the Butterfill Act, the first acquisition under the Banking Act 2009, the first covered bond by a building society and the use by building societies of self-issued covered bonds to access central bank funding.

We have advised societies and other mutuals, and entities dealing with them, for many years and have considerable experience and expertise in advising on constitutional issues, directors' duties and corporate governance, regulatory matters (including regulatory investigations), defence issues and strategic transactions (including mergers and acquisitions).

In addition, we have advised on numerous building society covered bonds and securitisations. Other areas on which we regularly advise societies and finance arrangers include public senior and subordinated debt issues, medium term note (MTN) and commercial paper (CP) programmes, transfers of mortgage portfolios, commercial lending, project financing, housing association financing and other types of treasury transactions. We also advise societies on regulatory capital, liquidity, mortgage regulation, consumer credit, unfair contract terms, employment, pensions and incentives matters, tax, data protection, intellectual property, outsourcing, electronic communications and insurance.

News & insights

Exterior of a modern high rise building

Publications: 11 AUGUST 2020

Cross-Border Distribution of Collective Investment Funds

The regulatory landscape for marketing funds in Europe is complex due to the divergent approaches taken by the various Member States in implementing fund distribution and marketing rules. 

Read more
A laptop, notebook, pen and coffee cup placed on a desk

Publications: 07 AUGUST 2020

Russia: Law on categories of investors has been adopted

The Federal law dividing all investors in the financial market into two categories, regulating investment activities carried out by individuals and reforming the procedure by which non-qualified…

Read more
Capitol Hill building in the United states

Publications: 05 AUGUST 2020

Don't let the 2020 campaign season affect your ability to seek investment from public investors

With less than 100 days before the November 2020 election, campaign fundraising is entering its busiest period of the cycle. Although campaign fundraising is largely virtual this year, there is no…

Read more
Bill 7637 – Luxembourg adds the missing piece for the issuance and circulation of blockchain securities

Publications: 05 AUGUST 2020

Bill 7637 – Luxembourg adds the missing piece for the issuance and circulation of blockchain securities

Bill of law 7637 (the Bill) notably amends the Luxembourg act dated 6 April 2013 on dematerialised securities (the Dematerialised Securities Act 2013) by:

Read more

Download the practice brochure

Looking up to the sky between two skyscrapers

Our Building Societies and Mutuals practice

Our Building Societies and Mutuals practice includes specialists with specific sector experience across a range of practice areas