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Jeremy Fraser

Solicitor

Banking & FinTech Consultant 

Email jeremy.fraser@mbmcommercial.co.uk

Tel 07834396991

Jeremy Fraser use

Jeremy is a senior financial services lawyer, specialising in banking/Open Banking and financial services regulatory advice and data protection. Solutions-focused, with significant strategic and management experience from executive roles, legal partnership, advisory boards and non-executive directorships.

As a consultant since early 2018 Jeremy has supported a variety of clients, including running the GDPR Project for a mortgage lender in the South East of England, acting as Compliance/Data Protection Officer for an established tech co, taking on the role of Data Protection Officer for a FinTech aggregator and advising on FCA permissions and FCSC related issues for a FinTech start-up.

Prior to that Jeremy held a variety of in-house roles including Compliance Director and Data Protection Officer for Tesco Bank, Head of Legal/Compliance and DPO for Sainsbury’s Bank, and Chief Compliance & Risk Officer for a start-up Private Bank, and between these roles was appointed to represent the UK Challenger Banks on the Open Banking Implementation Entity Steering Group after its launch in autumn 2016.

Jeremy spent 4 years based in Oxfordshire where he was Legal & Compliance Director for ING Direct, until its sale to Barclays Bank, managing the Legal and Compliance functions of the Dutch banking giant's UK convenience banking subsidiary. Between 2003 and 2010 he was a financial services partner in law firms in Edinburgh and prior to that he held various senior roles within Lloyds TSB Banking Group.

Jeremy is an English and Scottish dual-qualified Solicitor; Chartered Banker; Notary Public; Fellow and former Member of Council of the Chartered Banker Institute. He has held various advisory board and Non-executive Director positions within a number of FinTech start-ups and was a member of the Council of Mortgage Lenders Legal Advisory Panel.

Specific activities: 

  • Jeremy led a team of lawyers for the acquisition of £3.4 billion of retail deposits from two Icelandic banking groups under the Banking (Special Provisions) Act and the subsequent integration exercise;
  • Led the Part VII Banking Business Transfer project for ING for its sale to Barclays;
  • Acted for the Scottish Government in the attempted rescue of a Scottish building society;
  • Acted as principal legal adviser on Payment Services Directive projects for several UK banks;
  • Implemented the new Senior Managers & Conduct Regime framework for a challenger bank;
  • Completed a 6 month secondment with a UK banking group as adviser for a major mortgages regulatory implementation project; produced CCA loan and credit card documentation for a Scottish bank;
  • Led a project to harmonise the personal and small business customer account documentation of a major banking group;
  • Drafted and negotiated outsourcing contract for insurance services and IT contract for a mortgages platform;
  • Provided the compliance support for GDPR implementation projects for 2 banks;
  • Provided data protection advice for banks relating to marketing and privacy notices and procedures;
  • Provided quarterly hindsight reviews of financial promotions for a large UK banking group.

Outside work Jeremy keeps fit playing hockey and doing the occasional half marathon, and is a fair weather golfer.