United Kingdom > London > Corporate and commercial > Financial services
Index of tables
- Financial services (non-contentious/regulatory)
- Financial services (contentious)
- Financial services (non-contentious/regulatory)
- Leading individuals
Financial services (non-contentious/regulatory)
Financial services (contentious)
Financial services (non-contentious/regulatory)
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- Chris Bates Clifford Chance
- Peter Bevan Linklaters LLP
- Patrick Buckingham Herbert Smith LLP
- Margaret Chamberlain Travers Smith LLP
- Paul Edmondson CMS Cameron McKenna LLP
- Mark Evans Travers Smith LLP
- Ruth Fox Slaughter and May
- Simon Gleeson Clifford Chance
- Jonathan Herbst Norton Rose LLP
- Mark Kalderon Freshfields Bruckhaus Deringer LLP
- Michael Kent Linklaters LLP
- Rachel Kent Hogan Lovells International LLP
- Tamasin Little SJ Berwin LLP
- Rob Moulton Ashurst LLP
- Bob Penn Allen & Overy LLP
- Tim Plews Clifford Chance
- Michael Raffan Freshfields Bruckhaus Deringer LLP
- Barney Reynolds Shearman & Sterling LLP
- Charlotte Stalin Simmons & Simmons
- Pamela Thompson Eversheds LLP
Leading individuals
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- Elizabeth Barrett Slaughter and May
- Roger Best Clifford Chance
- Calum Burnett Allen & Overy LLP
- Carlos Conceicao Clifford Chance
- Charles Evans Norton Rose LLP
- James Gardner Linklaters LLP
- Martyn Hopper Herbert Smith LLP
- Simon Morris CMS Cameron McKenna LLP
- Sidney Myers Berwin Leighton Paisner LLP
- Philip Parish Hogan Lovells International LLP
- David Scott Freshfields Bruckhaus Deringer LLP
- Tony Woodcock Stephenson Harwood
‘First-class practice’ Clifford Chance acted for LCH.Clearnet on the development of its SwapClear Futures Commission Merchant service, and assisted Gartmore in an internal investigation into the conduct of Guillaume Rambourg. Advisory head Chris Bates and Tim Plews are key contacts. Simon Gleeson is also recommended, along with contentious experts Roger Best and Carlos Conceicao.
The ‘responsive’ team at Freshfields Bruckhaus Deringer LLP includes Michael Raffan, who leads non-contentious matters, with Mark Kalderon and Guy Morton also key figures. It recently provided regulatory advice in respect of the merger of the London Stock Exchange with the TMX Group. David Scott and Sarah Parkes are also recommended.
At Linklaters LLP, Sarah Parkhouse was promoted to partner and counsel Harry Eddis joined from Morgan Stanley. The practice undertook a comprehensive review of the client-facing documentation of an international private bank for retail regulatory and consumer protection issues, and advised in an FSA enforcement investigation into customer complaints handling. Global practice head Michael Kent, James Gardner, Peter Bevan and Christa Band are highly rated.
Allen & Overy LLP advised on one of the first RRP plans for a UK bank; assisted with changes to derivatives markets; and advised on the first dormant account reclaim fund. Bob Penn leads on the non-contentious side, and Damian Carolan and John Goodhall are also key figures. Calum Burnett heads the regulatory litigation practice, and Arnondo Chakrabarti and Tim House are also well-respected practitioners. The contentious team assisted with mis-selling issues, market abuse matters and claims relating to structured products in the retail area.
Ashurst LLP welcomed Rob Moulton from Nabarro LLP. Work highlights included a market abuse action; and advising on AIFMD, the Short Selling Regulation, MiFID II, custody and client money issues, and the regulatory aspects of OTC derivatives. James Perry, David Page, Jonathan Drake, Nick Cheshire and Wilson Thorburn are recommended.
Hogan Lovells International LLP’s Rachel Kent has ‘excellent market knowledge’, and Dominic Hill is experienced in systems, governance, prudential supervision, conduct of business, and outsourcing projects. Emily Reid’s ‘knowledge of banking sector products is phenomenal’, and Roger Tym ‘provides commercially focused advice’. The team acted for Santander in relation to FSA issues concerning the integration of Alliance & Leicester’s business in the Santander Group. Ailbhe Edgar gives ‘robust advice’, and Philip Parish has ‘great expertise’.
Norton Rose LLP’s Jonathan Herbst advises on commodity derivatives, outsourcing transactions, custody and clearing, and the regulatory aspects of acquisitions and disposals, while Peter Snowdon is focused on retail financial services. Charles Evans and Dorian Drew are recommended for investigations.
Simmons & Simmons’ client base spans the whole institutional market, and the firm represents several leading private banks. Its consumer finance practice is noteworthy, as is its cross-border regulatory work. Charlotte Stalin, Darren Fox, Sarah Bowles and Jonathan Melrose are key contacts. On the contentious side, the firm advised on controversial regulatory issues arising from hedge funds. Richard Sims is recommended.
Slaughter and May’s recent workload includes advising on the setting up of new businesses, the viability of new financial products, passporting issues, capital raising exercises, consumer credit issues and new regulatory regimes. Ruth Fox is recommended; Jan Putnis ‘provides an outstanding service’; and Ben Kingsley is ‘a thoughtful lawyer’. On the contentious side, the team advised in a multi-jurisdictional SFO investigation. Elizabeth Barrett and Ewan Brown are recommended.
Travers Smith LLP’s team is ‘superb’. Jane Tuckley is ‘truly excellent’; Tim Lewis is ‘a thought leader in his area’; Margaret Chamberlain is ‘a strong department head’; Mark Evans has ‘unparalleled technical knowledge’; and Stephen Paget-Brown is also recommended. On the contentious side, the team advised on loss of client data, market abuse, systems failures and challenges to FSA notices in connection with the approval of individuals as approved persons.
While Jonathan Marsh left Berwin Leighton Paisner LLP to become Vitol’s general counsel, the firm recruited Jacob Ghanty from Pinsent Masons LLP and also DLA Piper UK LLP’s financial services head Daren Allen. The firm advised Chartis on wholesale changes to its approved persons structure, and the practice saw an uptick in actions against financial institutions’ senior management members. Contentious experts Nathan Willmott and Sidney Myers are highly rated.
CMS Cameron McKenna LLP is known for its retail and buy-side expertise, as well as its Europe-wide footprint, but the practice is also strong in wholesale markets. The team advised on the UK regulatory issues involved in Islamic Bank of Britain’s rescue by Qatar International Investment Bank. Paul Edmondson is a key contact, and Simon Morris has ‘an enthusiasm that makes you want to listen to every word he says’. Ash Saluja is ‘knowledgeable’.
Since recruiting Lloyds Banking Group’s former regulatory head Jenny Stainsby, Herbert Smith LLP has increasingly worked with retail banks. Recent highlights include assisting a fund manager in responding to the FSA’s RDR consultation paper and draft rules on changes to the regulation of platform businesses. Patrick Buckingham and contentious expert Martyn Hopper are recommended. Clients appreciate the ‘level of proactive delivery’. Peter Burrell left for Willkie Farr & Gallagher LLP.
Standing out for its European offering, SJ Berwin LLP advised on regulation-led trends such as de-consolidation and non-core asset disposals, corporate transactions pursuant to regulated sector consolidation, the Remuneration Code, the AIFMD, and the European Market Infrastructure Regulations. Tamasin Little leads the team; David Calligan advises on compliance; and Gregg Beechey is ‘the rising star’.
Stephenson Harwood saw an increase in instructions relating to ARROW visits and advice on capital adequacy. It also gained market share in the consumer credit area, and advised in criminal proceedings brought by the FSA. Charlotte Hill heads the non-contentious practice, and contentious head Tony Woodcock is ‘an exceptional talent’. The ‘technically strong’ Sean Jeffrey joined from Freshfields Bruckhaus Deringer LLP, along with the ‘impressive’ Sara George from Allen & Overy LLP.
‘Responsive to clients ’ needs’, Addleshaw Goddard LLP provides advice across all aspects of banking, building society and investment regulation, and is establishing a strong reputation in the area of prudential regulation and in wholesale markets, where the practice advises multilateral trading facilities. John Ahern and David Heffron are key contacts, along with Elizabeth Robertson on the contentious side. Jonathon Watson, former UK head of legal at UBS Wealth Management, joined the team.
As a leading adviser to the City’s authorised fund sector, Eversheds LLP provides regulatory advice to asset management houses, and is a market leader on regulatory issues affecting the buy side of the industry. Pamela Thompson is widely praised, and Michael Wainwright is ‘particularly good’. Clients include Henderson Global Investors and Lloyds TSB.
Field Fisher Waterhouse LLP’s Kirstene Baillie advises on regulatory developments, particularly with regard to new funds, and ‘sorts out complex issues in an efficient manner’. Duncan Black’s work includes market abuse, systems and controls, fitness and propriety, conflicts of interest and money laundering; he ‘relishes the complexities of regulatory work’.
Bridget Barker heads the group at Macfarlanes LLP, with David Berman noted for non-contentious issues and Barry Donnelly for contentious matters. The team recently advised on compliance reviews, and on the application of client money rules and regulatory issues surrounding the establishment of an innovative fund, as well as handling FSA disputes and market abuse issues.
At Mayer Brown International LLP, regulatory investigation expert Marc Cohen joined the team from the firm’s Washington, DC office on a three-year secondment, and Mark Compton arrived from BP. Cohen’s ‘ability to make things happen, particularly in foreign regulatory matters, is difficult to match’. Angela Hayes has ‘good knowledge’, and Ed Sautter is also highly rated.
Reed Smith’s Jacqui Hatfield has ‘detailed knowledge of financial regulation practice’. The team advised Federated Investors on the position under Basel, the EU and the UK in terms of the functional equivalency of money market funds. The team also includes ‘technically good’ litigation partner Robert Falkner, who arrived from Morgan Lewis; contentious expert Charles Hewetson, who ‘knows what clients want’; and Simon Hart, also a key contentious contact.
Shearman & Sterling LLP has both UK and US capabilities. The team advised US-based DTCC on setting up a subsidiary to run a new global derivatives repository. Barney Reynolds is a principal contact, and Richard Kelly has investigations experience. Azad Ali is also recommended.
Speechly Bircham LLP’s Vincent Mercer has ‘deep knowledge’. The team advised on the FSA’s treatment of carbon credits, the application of regulation for traders in the London markets, FSA applications for approved person status, and regulatory changes in the private banking sector. Jonathan Bayliss and Nick Janmohamed are recommended.
The arrival of Ian Mason from Barlow Lyde & Gilbert LLP boosted Baker & McKenzie LLP’s practice. The team advised on the FSA’s remuneration rules, the Payment Services Directive, and US-related regulatory developments. The team was also active in regulatory issues arising from consolidation in the banking and financial services industry, and mis-selling issues. Arun Srivastava is highly rated.
Insurance is at the heart of Beachcroft’s practice. The team advised on the Solvency II Directive; assisted with regulatory issues arising from global distribution arrangements in relation to medical insurance; and prepared new standard terms of business agreements for the distribution of insurance products. Allianz, Skandia and Zurich are clients. David Hunt is a key contact, and James MacNish Porter advises on regulation, with a particular interest in insurance and wealth management businesses.
Experienced in supporting bank and building society clients, DLA Piper UK LLP also has a network of regulatory experts across Europe in addition to its London team. Contentious highlights ranged from advising banks, hedge funds, and insurance industry players on complaints handling, PPI mis-selling, and complex market abuse cases. Michael McKee is recommended, and Elisabeth Bremner is noted for contentious matters.
Sidley Austin LLP is noted for complex cross-border matters. The team advised a US-based hedge fund trade association on the AIFM Directive, the proposed EU Regulation on Short Selling and Credit Default Swaps, and MiFID. John Casanova is recommended; and Leonard Ng ‘shows a highly professional approach’.
White & Case LLP welcomed regulatory specialist Stuart Willey from the FSA, where he was chief counsel. The team advised on the establishment of a new UK shari’ah-compliant retail bank. Carmen Reynolds and contentious expert Alistair Graham are recommended.
Barlow Lyde & Gilbert LLP is ‘excellent for regulation’. The team achieved a number of successes in appealing cases to the Regulatory Decisions Committee. Chris Brennan was appointed partner, and Josie Marwick joined from the FSA.
Covington & Burling LLP focuses on advising banks, investment managers, institutional funds and broker-dealers, with an emphasis on the asset management sector. Simon Currie is recommended.
To complement the firm’s established presence on the insurance side of financial services, Dewey & LeBoeuf LLP recruited Robert Finney from SNR Denton, who is looking to build the financial services practice in the area of banking and investment services across Europe and the Middle East. The practice advised on the marketing of non-EU equities into Europe; capital and liquidity issues arising from a regulated financial institution’s proposed acquisition of a minority shareholding; and the avoidance of market abuse issues in an IPO context.
Recent work for Dundas & Wilson LLP includes advising on the second e-money directive and the client asset rules. Patrick Brandt has ‘the ability to speak to the complex FSA laws in a straightforward, jargon-free manner’; and Philip Mackay is also recommended.
Farrer & Co recruited Robert Guest from Rosenblatt Solicitors, where he was head of financial services. The team obtained authorisation for a UK-domiciled Qualifying Money Market Fund structured as a UK OEIC. Grania Baird is ‘knowledgeable and responsive’.
Jones Day recently submitted and negotiated various non-standard controllership and other applications to the FSA; Tim Flood is a key contact. Michael Brown is experienced in advising financial institutions on contentious matters relating to financial structures and products, and bribery and corruption.
Kirkland & Ellis International LLP advises clients setting up new financial services businesses, and acts on the regulatory issues surrounding the acquisition of financial services businesses. Lisa Cawley is recommended; and Stephanie Biggs has expertise in regulatory matters affecting private equity firms.
Lawrence Graham LLP advised on the setting up of new financial services enterprises in the UK by overseas institutions, and saw increased contentious and payment services regulation work. Richard Everett has ‘first-class industry knowledge’.
Nabarro LLP’s team head Adrian Brown and Sam Robinson joined from SJ Berwin LLP. The practice advised on a pre-packaged administration sale, the role involving liaising with the FSA to ensure compliance prior to administration. Rob Moulton moved to Ashurst LLP.
Olswang’s work ranges from advising investment banks on regulatory capital matters and the FSA’s Remuneration Code, to advising retailers on consumer credit law. The team has particular expertise in the payments sector. Brian McDonnell ‘combines outstanding legal knowledge with business expertise’.
Paul, Hastings, Janofsky & Walker (Europe) LLP focuses on the regulatory side of domestic and international finance. Thomas O’Riordan is valued for his ‘insightful contributions’.
Pinsent Masons LLP advises on regulatory obligations and investigations, and has a dedicated insurance-sector regulatory team. Tim Dolan is a key contact. Al-Harith Sinclair joined from DLA Piper UK LLP, while Jacob Ghanty left for Berwin Leighton Paisner LLP.
PricewaterhouseCoopers Legal LLP advised Jersey Finance in relation to AIFMD’s impact for fund management businesses based on the island. Laura Cox heads the team. James Greig advises on funds’ regulatory issues.
Reynolds Porter Chamberlain LLP focuses on the London insurance market, financial advisers and wealth managers, and the financial services divisions of professional firms. Jonathan Davies is ‘a recognised leader for regulatory legal expertise in the London and Lloyd’s markets’. Contentious specialist Steven Francis is also well regarded.
Noted for regulatory consumer finance matters, Salans’ ‘response times are excellent’. Paula Howard has ‘excellent consumer credit expertise’; and Bill McCaffrey ‘offers depth of industry knowledge’.
TLT LLP provides regulatory advice in relation to financial services products, including mortgages. Suzanne MacDonald is a ‘standout lawyer’.
Taylor Wessing LLP’s Clive Cunningham is noted for regulatory advice to the financial services, banking and funds sectors.
A ‘go-to’ firm for contentious financial regulation, particularly for retail matters, Bingham McCutchen (London) LLP can draw on practical expertise gained from in-house FSA experience. Peter Bibby is ‘always on top of whatever he does’, and Helen Marshall is ‘very good’.
Finers Stephens Innocent LLP’s ‘highly rated’ Philip Rubens advises brokers, hedge fund managers and investment bankers in enforcement proceedings.
Fulbright & Jaworski International LLP’s Chris Warren-Smith and Lista Cannon have experience in investigations, both in the UK and US. Warren-Smith’s ‘dedication to clients makes him invaluable’. Melanie Ryan is also recommended.
Kingsley Napley LLP acts in complex investigations. Stephen Pollard is ‘an excellent criminal lawyer who understands commercial sensitivities’; and Louise Hodges ‘carries weight with the regulators’.
Mishcon de Reya has a growing reputation in litigation and the defence of FSA enforcement actions. Adam Epstein is recommended.
Peters & Peters Solicitors LLP’s work ranges from criminal investigation and prosecution, through to regulatory misconduct, disclosure obligations, and interaction with the FSA as regulator. Monty Raphael QC, Neil Swift and Sarah Gabriel ‘combine astute client manners with expertise’.
BCL Burton Copeland advises in relation to insider dealing and market abuse matters, and other enforcement action. Ian Burton is ‘hugely experienced’; Richard Sallybanks is ‘extremely good’; and Guy Bastable ‘possesses a fearsome intellect’.
Irwin Mitchell LLP’s financial crime regulatory experience is noteworthy. Andrew Wallis is recommended, and Kevin Robinson’s track record includes acting in the largest-ever insider dealing prosecution. Sarah Wallace is ‘dedicated to achieving the client’s best outcome’.
The team at Withers LLP expanded with the arrival of ex-FSA internal troubleshooter Harvey Knight. The practice advised the chief executive of Keydata Investment Services in relation to the FSA’s investigation.