Financial services regulation in London Bar
3 Verulam Buildings 'offers unbelievable strength in depth, brilliant clerking and has some of the best barristers in the financial services sector'. Members are praised for their 'very substantial regulatory and commercial experience', while the set as a whole is also commended for having 'organised some great seminars and training events'. The chambers fields several silks and juniors who are regularly called upon for their regulatory expertise, including Rory Phillips QC, who, alongside Robert Purves and Sophie Mallinckrodt, advised the Prudential Regulation Authority (PRA) on the Ring Fencing transfers for Barclays, Lloyds, HSBC, and Santander banks. On the contentious side, Hodge Malek QC and James Potts have been advising ICAP on LIBOR rigging investigations launched by the Financial Conduct Authority (FCA) and the Serious Fraud Office (SFO).
Blackstone Chambers is 'understandably the leading set in financial services. The quality of counsel and service provided are second to none'. The chambers 'is a cornucopia of experience in the area' with 'great bench strength both in silks and juniors'. Members command respect for their contentious and non-contentious advice, often acting for and against the regulators both at home and abroad. Recently Javan Herberg QC and Ben Jaffey QC successfully acted for the claimant in Qatar Financial Centre Regulatory Authority v First Abu Dhabi Bank. Andrew George QC and Daniel Burgess also represented the Financial Conduct Authority (FCA) in the high-profile case of Ford v Financial Conduct Authority.
Fountain Court Chambers is 'quite simply one of the best chambers in London with the bench strength and quality to handle the largest and most complex cases'. The set has a 'good range of silks and senior juniors in the financial services field', several of which, including Richard Coleman QC and Andrew Mitchell QC offer strong non-contentious advisory support. On the contentious side, members have been involved in proceedings arising out of Barclays Bank's Qatar capital raising, with Richard Lissack QC and Eleanor Davison among those representing Barclays. Lissack, Tamara Oppenheimer QC, Bankim Thanki QC and Rebecca Loveridge were also on ENRC's team in Director of the Serious Fraud Office v ENRC.
4 Stone Buildings has several silks and juniors with a strong grounding in financial services regulatory law. Members regularly represent clients before the Financial Conduct Authority's (FCA) Regulatory Decisions Committee and the Financial Services & Markets Tribunal. Charles Marquand is especially strong on the advisory side, providing strong support to clients in the public and private sectors. On the contentious side, Jonathan Crow QC has been involved in several offshore-related regulatory cases. Sharif Shivji QC, who recently took silk, John Brisby QC, and Alastair Tomson also all have noteworthy track records in this area.
Gough Square Chambers is a 'very good set for complex regulatory issues' and 'financial services regulated lending work'. This includes high-end advisory support, as well as contentious dealings with the financial regulators. Stephen Neville is active on the non-contentious side and advised Aldermore Bank on the £380m MotoNovo Securitisation of car finance hire purchase agreements. On the disputes side Jonathan Kirk QC and Thomas Samuels represented the self-invested pension plan administrator in R (Berkeley Burke SIPP Administration Ltd) v FOS, FCA and Charlton, which went to the Court of Appeal. Fred Philpott and Kate Urell were also involved in CFL Finance Ltd v Bass.
Henderson Chambers is 'an excellent set for financial services regulatory matters' with a selection of 'highly recommended' silks and juniors. There is a strong overlap with its market-leading work on the consumer credit end, and its members are regularly instructed by the major retail banks, financial services companies, and fintech providers. The set offers a wide range of expertise on contentious and non-contentious matters, where senior silks and juniors such as Richard Mawrey QC, William Hibbert and Julia Smith have long held sway. Other names of note include up-and-coming silks Toby Riley-Smith QC and Henry Warwick QC, who took silk in 2020, and Nazeer Chowdhury.
Outer Temple Chambers has 'strength and depth across the gamut of financial services' and is 'generous in offering insights and education and training programmes'. Members are experienced across a range of areas, including regulatory enforcement proceedings, both for and against regulators such as the Financial Conduct Authority (FCA). Silks such as Michael Bowes QC also offer strong support on the overlap between criminal, regulatory and civil issues. James Counsell QC is also highly experienced and was involved in The Council of Lloyd’s v Equity Syndicate Management Company Limited and Others.