Financial services regulation in London Bar
The Financial services rankings are distinct from the Banking and finance section in that it is focused on contentious and non-contentious regulatory issues, rather than civil claims. Barristers ranked in this section are those with experience working for and against foreign and domestic regulators, such as the Financial Conduct Authority, and advising commercial clients on non-contentious regulatory matters.
3 Verulam Buildings remains 'a go-to set for any dispute with a financial services angle', according to instructing solicitors. Recently members such as Richard Brent QC have advised on several major test cases affecting the financial services industry. Members, including Rory Phillips QC, Robert Purves, and Sophie Mallinckrodt also acted for the Prudential Regulation Authority and the Financial Conduct Authority on the Part VII transfers of Barclays Bank, Lloyds Bank, HSBC, and Santander.
Blackstone Chambers is a 'go-to set for complex financial services work', where you are 'spoilt for choice' because the 'juniors and QCs are outstanding and have always make time for you'. Recent highlights include R (Holmcroft) v KPMG LLP and others before the Court of Appeal in which seven members were involved, including Javan Herberg QC and Hanif Mussa for KPMG, Ben Jaffey QC for Barclays Bank, (an interested party), and Monica Carss-Frisk QC and Daniel Burgess for the Financial Conduct Authority (FCA). Members also acted for the FCA on the issuance of the Tesco market abuse Final Notice.
Fountain Court Chambers is praised for its 'excellent all-round service' and 'remains one of the standout chambers for financial services regulation work', according to its instructing solicitors. The set has experienced members at every level, offering contentious and non-contentious regulatory advice. Highlights for members, such as Bankim Thanki QC, Richard Lissack QC, and Eleanor Davison, include successfully guiding Barclays Bank through numerous proceedings arising from the £11bn Qatar capital raising in 2008.
4 Stone Buildings houses members with experience representing a broad range of parties affected by the UK's financial services regulatory framework. The set's barristers also have strong expertise advising on regulatory issues in other key jurisdictions, including Dubai, where Sharif Shivji is experienced. In the UK, notable mandates include appearing before the Supreme Court in FCA v Macris, where Jonathan Crow QC represented the Financial Conduct Authority.
Gough Square Chambers has 'a strong reputation for banking disputes with a regulatory focus – clients do not need to be persuaded to instruct counsel from this set', say solicitors. Recently, members such as Thomas Samuels were involved in R (Berkeley Burke SIPP Administration Ltd) v Financial Ombudsman Service Ltd & Others. Simon Popplewell represented Fortwell Finance in Halstead v Fortwell Finance Ltd which went to the Court of Appeal.
Henderson Chambers is 'a good set for work of this nature' and 'always able to provide counsel at the right level of experience for claims of all sizes'. Members regularly act for and against regulators including the Financial Conduct Authority, with recent cases including FCA v Gopee (in which Julia Smith represented the regulatory body) , and are also highly experienced on the non-contentious side.