Rachel Hillier (Capital Law)

Rachel Hillier

Financial Services Regulation

Rachel is a Partner and leads our Financial Services team. She is an experienced financial services regulatory lawyer.

Rachel is a regulatory lawyer, specialising in the financial services and technology sectors, particularly Fintech and Insurtech. Rachel works with some of the most innovative financial services companies in the UK and internationally, alongside more traditional financial services businesses.

With 23 years’ experience in tech and commercial law, Rachel has built a well-respected team of lawyers who are focused on giving non-contentious advice to both innovative disrupting Fintech clients as well as more traditional financial services firms.

Rachel is a founding advisory board member of Fintech Wales and is ranked 1 in the Chambers & Partners Fintech Legal Guide for Wales. Her team is ranked Band 1 in the same guide.

Rachel advises on a broad range of regulatory and insurance issues in the financial services, insurance and technology sectors.

Her clients are Fintechs and Insurtechs, crypto-asset businesses, wealth management firms, IFAs, banks, payment service providers, mortgage lenders, loan and consumer credit providers, financial services comparators, placement agents, insurers, insurance brokers and SIPP operators.

Her work includes financial services regulatory advice, FCA/PRA authorisation and change of control applications, regulatory advice relating to the launch of new products and services, changes to FCA rules, compliance with PRA and FCA rules and EU regulations, contingency planning for Brexit, drafting and negotiating customer terms of business, KYC and IPID documents, appointed representative agreements, distribution and outsourcing agreements. She gives specialist regulatory due diligence advice on the sale and purchase of financial services businesses.

Rachel advises Fintech businesses developing innovative new products, including strategic and product structure, drafting policy wording, terms of business agreements and advising on UK regulation of financial products.

Rachel has expertise advising on the commercial and regulatory aspects of cryptoassets and blockchain.

She is a member of the Fintech Wales advisory board.

Rachel often assists clients on cross-border regulatory issues, collaborating with her personal network of specialist regulatory lawyers across the world.

Many thanks for this succinct summary of the regulatory status of our various activities. I think this is an exceptional body of work.”

Ian Pettifor, Co-Founder and CFO, Azur Group


  • Acting for a telematic API motor insurance insurance intermediary offering “pay-per-mile” motor insurance using a telematic advice. Giving written advice on FCA regulation, policy wording, customer terms and conditions, privacy policy and website terms. Reviewing contracts with underwriters.
  • Providing regulatory advice and guidance to an Insurtech in the motor sector with a next-generation telematics advice. Assisting with an application for authorisation as a “hybrid firm” being both an insurance intermediary and a regulated claims management service.
  • Advising Cover Genius on its launch, in partnership with Skyscanner, of a new Covid 19 travel insurance package. Including regulatory advice, policy wording, IPIDs, terms of business and associated commercial documents.
  • Supporting Azur Underwriting Limited with regulatory advisory and drafting services in connection with its European expansion into Ireland and intra-group services, in compliance with both the Irish and UK regulators.
  • Assisting an EU authorised insurer in preparing and submitting to the PRA a third country branch application to carry on insurance business in the UK.
  • Providing strategic and regulatory advice on the restructure of a UK Insurtech to allow its continued expansion into Europe.
  • Regulatory advice for an insurance broker on a complex cross border insurance distribution model with a Guernsey based insurer, including the design and modelling of insurance distribution and claims handling processes and the cross broader regulatory implications when operating the distribution models.
  • Advising insurer and brokers on planning for and the implementation of Consumer Duty obligations.
  • Supporting an international UK Insurtech to restructure its EU and UK group structure, drafting intergroup services agreements and assisting in an application for an insurance distribution licence in the Netherlands.
  • Policy drafting for an event insurance Insurtech.
  • Regulatory advice for financial services and ICO businesses
  • Regulatory advice relating to the launch of new products and services
  • Contingency planning for Brexit
  • FCA authorisation and change of control applications
  • Advising on the interpretation and implementation of FCA, PRA and EU regulations
  • Trust law, governance and regulatory advice relating to SIPP and SAS pension schemes.
  • Corporate restructuring of financial services businesses
  • Advising on, drafting and negotiating commercial contracts
  • Transactional work for regulated and technology firms
  • Joint ventures
  • Drafting and negotiating customer terms of business
  • KYC and IPID documents
  • Appointed representative agreements
  • Distribution and outsourcing agreements
  • Perimeter guidance and advice on the interpretation of consumer credit regulation and the application of CONC
  • Written and verbal advice on the application of CASS on the holding of client money and safe custody assets
  • Advising on drafting and negotiating commercial contracts for regulated firms.





  • Partner, Capital Law Limited (May 2020 – present)
  • Senior Associate, Capital Law Limited (Apr 2019 – Apr 2020)
  • Associate, Capital Law Limited (2017 – Apr 2019)
  • Solicitor, Capital Law LLP (2015 – 2017)
  • Consultant Solicitor, David Prosser & Co. (2008 – 2015)
  • Managing Partner, Le Brasseurs (2005 – 2008)
  • Solicitor, Le Brasseurs (2003 – 2005)
  • Solicitor, Caporn Campbell (2000 – 2003)
  • Solicitor, Hardmans (1999 – 2000)
  • Trainee Solicitor, Hardmans (1997 – 1999)


  • University of the West of England: LPC (1996 – 1997)
  • University of the West of England: Post Graduate Diploma in Law (1995 – 1996)
  • Canterbury Christ Church University: Bachelor of Arts: History (1992 – 1995)

Memberships / Trustee Positions

  • The Law Society of England and Wales
  • School Governor at Ysgol y Ddraig
  • Advisory board member of Fintech Wales
  • Crypto Assets Professional Advisory Group (CAPAG)
  • Member of Insurtech UK’s Insights and Initiatives Committee