Financial services: non-contentious/regulatory in London

Allen & Overy LLP

Home to ‘excellent industry and market knowledge’, Allen & Overy LLP, a Magic Circle firm, is acclaimed for its regulatory change and implementation, licensing, risk management and operational resilience know-how. The practice is fronted by Damian Carolan, an expert in derivatives and securities regulation, and also includes Bob Penn, a go-to name for asset managers, financial institutions, market infrastructure providers and banks. Ben Regnard-Weinrabe is famed for his fintech, payments, consumer finance and retail baking experience, while Kate Sumpter leverages a track record in regulatory-driven structural change projects, often acting on behalf of international banks. The practice deploys its international footprint to support on matters which intersect UK, EMEA, US and APAC regulations and is bolstered by up-and-coming partners Nick Bradbury and Nikki Johnstone; the former co-leads the financial markets and markets infrastructure regulatory practice while the latter supports digital banks, online marketplaces and technology companies on new product launches, geographic expansion and legislative changes. Beyond partner level, Kelesi Blundell is a senior associate with exposure to native digital debt securities, digital deposits and payments and digital custody affairs.

Practice head(s):

Damian Carolan

Other key lawyers:

Bob Penn; Ben Regnard-Weinrabe; Kate Sumpter; Nick Bradbury; Nikki Johnstone; Kelesi Blundell


‘Great strengths in prime brokerage and bespoke netting arrangements.’

‘Nick Bradbury – great client service with a very practical commercial approach.’

‘Excellent industry and market knowledge combining financial market infrastructure and derivatives expertise.’

Key clients

Virgin Atlantic Airways Group

LCH Ltd.






Nomura International Plc

SwapAgent Ltd.


Paysafe & Skrill

Edenred group (including prepay solutions)

Western Union

Work highlights

  • Acted for the sellers on LSEG’s acquisition of Refinitiv for $28bn.
  • Advising a client across a number of its €20bn digital investment initiatives.
  • Advised over twelve EU banks to support on their applications for authorisation in the UK.

Clifford Chance LLP

At Clifford Chance LLP, the team ‘pulls advice from around its international network and processes it into a consistently useful package’. Practice head Caroline Meinertz has forged a particular reputation for her Brexit-related advice to financial institutions, while Simon Crown is the go-to for asset management and fintech affairs. Elsewhere, Simon Gleeson serves as an authority on post-crisis reforms in respect of financial regulatory and resolution law, whereas Monica Sah caters to global financial institutions in respect of financial product structuring, custody and cryptocustody affairs and fintech-related M&A. Caroline Dawson is an up-and-coming partner who acts on investment banking, securities and derivatives business affairs and the team also benefits from significant bench strength at senior associate level; examples include Diego Ballon Ossio, who is a benchmark and financial services trading expert, and Stephanie Peacock who is well reputed for her asset management, securities and derivatives knowledge.

Practice head(s):

Caroline Meinertz

Other key lawyers:

Simon Crown; Simon Gleeson; Monica Sah; Caroline Dawson; Diego Ballon Ossio; Stephanie Peacock


‘The team pulls advice from around its international network and processes it into a consistently useful package, looking beyond the legal issues and considering what the practical implications are for our business.’

‘Monica Sah brings in-house experience that not many partners have and so she is also a good sounding board for practical matters and how to apply the law in a business setting. Laura Douglas is deeply knowledgeable and able to translate this into advice we can digest and use.’

‘Monica Sah and Diego Ballon Ossio have outstanding expertise in UK regulations and in particular consumer lending. Their experience in advising clients with a cross border element makes them not only experts in the field but also very practical and knowledgeable about market practice. Their strength lies with their expertise which compares to no others in the market.’

‘Monica Sah brings in her previous in-house experience which makes her an outstanding adviser for any regulatory questions impacting private banks and their clients. Diego Ballon Ossio has extensive knowledge of the regulations and how they came about and therefore can provide a very pertinent interpretation of the rules.’

Work highlights

  • Advised Wells Fargo & Company on the disposal of Wells Fargo Asset Management Holdings LLC and its subsidiaries, which housed Wells Fargo’s market leading asset management arm and holds $603bn in assets under management, to private equity houses GTCR LLC and Reverence Capital Partners, L.P.
  • Advised a large global bank on the scope and implementation of settlement discipline requirements under the EU Central Securities Depositories Regulation.
  • Advising a leading blockchain solutions provider on the establishment of a new crypto-asset exchange in Gibraltar, the participants in which are the client’s underlying customers, including retail customers.

Linklaters LLP

Linklaters LLP is famed for its ‘strength in-depth, commercial expertise and context-sensitive advice’; its practice is fronted by Martyn Hopper and is backed by Michael Kent’s first-rate knowledge of market infrastructure developments, namely clearing systems, trading platforms and settlement systems. Peter Bevan has distinct expertise in new product development, trading issues and regulatory structuring and the team is also home to significant fintech expertise in the form of Harry Eddis, a payment systems and payment services specialist. Nikunj Kiri is the group’s contentious regulatory and risk management authority while, at the more junior end of the partnership spectrum, Sebastian Barling is an expert on the impact of a number of key directives and Alastair Holt has notable regulatory licence, prudent regulation and conduct of business expertise. At counsel level, Raza Naeem is a name of prominence, particularly in respect of retail and wholesale conduct, ESG and governance affairs. Carl Fernandes re-joined the firm from Latham & Watkins in January 2022.

Practice head(s):

Martyn Hopper

Other key lawyers:

Michael Kent; Peter Bevan; Harry Eddis; Nikunj Kiri; Sebastian Barling; Alastair Holt; Raza Naeem; Carl Fernandes


‘Strength in depth; commercial expertise; context-sensitive advice.’

‘Michael Kent – excellent judgement, excellent risk-based adviser.’

‘Super responsive and commercial. Time taken to really understand the client structure and operating model.’

‘We primarily work with Michael Kent, whose knowledge and experience is invaluable. He is technically sharp and quickly grasps complex topics, and he advises in a way that is understandable, practical and makes commercial sense. He is also an absolute pleasure to work with.’

Key clients

Visa Europe Limited

SMBC Bank International plc

Fnality International Limited

Masthaven Bank Limited

Latham & Watkins

With an ‘outstanding’ team of ‘senior lawyers and very capable juniors’, US-headquartered Latham & Watkins covers financial services-related transactions, consumer credit and payment issues, conduct and culture work, and MAR, taxonomy and AIFMD matters, among many others. Practice head Nicola Higgs routinely acts on large-scale regulatory and reform mandates for leading global players; she is supported at by David Berman, a governance, accountability, conduct, culture and compliance specialist, and Rob Moulton, who is one of the market’s foremost experts on MiFID issues. Up-and-coming partner Stuart Davis is also a name of prominence, especially in respect of fintech initiatives and market infrastructure, trading, regulatory surveillance and tokenisation affairs.

Practice head(s):

Nicola Higgs

Other key lawyers:

David Berman; Rob Moulton; Stuart Davis


‘Latham and Watkins is the best practice I have worked with during my career, they set high standards internally and operate with excellence every day. They are reliable and provide quality advice but the key thing that sets them apart is the importance they place on their clients.’

‘David Berman is by far the best partner I have worked with and has helped us create a strong compliance program and keep abreast of regulatory developments in a practical manner. His advice and responsiveness is exceptional and he is always focused on providing a pragmatic and commercial response.’

‘Rob Moulton and Nicola Higgs are the two standout UK regulatory partners within a very high performing team and firm.’

‘The team is an excellent blend of senior lawyers and very capable junior lawyers. They have consistently provided very good and practical advice.’

‘I work closely with David Berman and he gives very practical advice. He cuts through the regulations and tells us what we need to focus on and how best to ensure we’re ahead of peers to ensure we’re best-in-class from a regulatory perspective. He is also available 24/7 on the end of a phone line which is invaluable and has never let me down in that regard.’

‘The L&W team are absolutely outstanding. There is real strength and breadth across the team and they are industry experts.’

‘Rob Moulton and David Berman are truly excellent and provide top regulatory advice on a range of issues in the financial services sector. They are our “go to” regulatory advisers and provide thoughtful, clear advice and are never afraid to give a view and don’t hide behind options. They are our trusted advisers on a range of issues.’

Key clients

Marcus by Goldman Sachs

Credit Suisse

Central Bank of Egypt

Royal Bank of Canada


IHS Markit

Numis Securities

Smith & Williamson


Houlihan Lokey

Work highlights

  • Advised on the £8bn direct listing of Wise on the London Stock Exchange.
  • Advising Goldman Sachs on the build of its first UK Retail Investment Platform – Marcus Invest.
  • Advising Central Bank of Egypt on the formulation of Egypt’s new banking law, a key pillar of the Republic’s ongoing programme of economic reform.

Norton Rose Fulbright

Norton Rose Fulbright leverages ‘deep knowledge of fintech, digital assets and blockchain technology’, among other areas. The practice is equipped to act across both the wholesale and retail financial services sectors, honing its focus on governance, conduct and market affairs. Jonathan Herbst is renowned for his knowledge of bank structuring, commodity derivatives, custody and relevant M&A considerations, while Hannah Meakin is a go-to for fintech, commodities derivatives and market infrastructure mandates; the pair co-lead the team alongside Katie Stephen who fronts the complementary contentious practice. Imogen Garner leads the buy-side offering, catering to asset and wealth managers, custodians and depository banks, while, at counsel level, Matthew Gregory serves as a policy development specialist, having previously been seconded to HM Treasury. Albert Weatherill garners praise as an ‘expert in the crypto space‘.

Practice head(s):

Jonathan Herbst; Hannah Meakin; Katie Stephen

Other key lawyers:

Imogen Garner; Matthew Gregory; Albert Weatherill


‘Deep knowledge of fintech, digital assets, and blockchain technology from regulatory and legal perspectives (related to UK and Europe, based on our experience). NRF collaborate with many different stakeholders in blockchain technology and that matters in this industry.’

‘Attentive partners and associates who want to build relationships, not just billable hours. Hannah Meakin, Albert Weatherill – the people, the long-standing relationships, make all of the difference.’

‘Depth of market knowledge; connections; pragmatism and responsiveness.’

‘Jonathan Herbst – incredible breadth of knowledge and experience, manner that is attractive to all and incredible pragmatism – real value add.’

‘Hannah Meakin – FS regulatory partner whose wide-ranging expertise has supported us on several matters, she is willing to engage with innovative propositions and provide comprehensive and pragmatic advice tailored to our particular context.’

‘Albert Weatherill – an expert in the crypto space whose deep understanding of the context has been invaluable in helping us understand the risks of accepting cryptocurrency donations and the mitigations available to help us reduce the potential risks.’

‘Our firm has needed a lot of help in delivering a SWDP. That has needed a lot of interaction with our regulators, and innovation to develop ways of working that are new to the regulator as well as the firm. The NRF team has given us first-rate support through that process of innovation as well as ensuring compliance through the implementation of our SWDP.’

‘Jonathan Herbst has been an excellent lead for our team. He has been able supported by Matthew Gregory. The stand out for us has been the way difficult concepts are explained clearly so that we can make the right business decisions. The level of team work is excellent, and that means we get the benefit of the whole team’s expertise.’

Key clients


CME Group


Goldman Sachs


BNP Paribas

Société Générale

UK Finance

River and Mercantile

Work highlights

  • Advised BMO Financial Group on the sale of its EMEA asset management business to Ameriprise Financial, Inc.
  • Leading two legislative and regulatory reform projects in two countries of operation for the European Bank for Reconstruction and Development (EBRD): Armenia and Jordan.
  • Advised The Investment Association in relation to an update of its model Investment Management Agreement.

Simmons & Simmons

Simmons & Simmons provides support to both  buy and sell-side clients, acting on an array of crypto and digital asset, SMCR, payment, MiFID3, EU and financial markets affairs. Practice head Penny Miller has significant expertise in strategic governance, regulatory change and SMCR extension affairs, while Charlotte Stalin is a key port of call for pan-European and global offerings of products and services, FCA rules and risk management mandates. Darren Fox is the other stand-out partner in the team, acting on a number of market conduct, shareholding disclosure, AIFMD and short selling matters within the asset management industry.

Practice head(s):

Penny Miller

Other key lawyers:

Charlotte Stalin; Darren Fox


‘The lead partner is always available and easily accessible. The teams are well versed in our business and always available to provide tailored solutions.’

‘Penny Miller and the team go out of their way to provide commercial options.’

Key clients


Allianz Global Investors

BNP Paribas

Royal Bank of Canada

Standard Bank

State Street Global Advisors

Prudential Financial


Work highlights

  • Acted for global financial institutions and asset managers on a wide range of complex regulated people issues including the implementation of the SMCR and related conduct, culture and people issues.
  • Advising on the Netting + Collateral Reviewer.

Slaughter and May

The team at Slaughter and May is highly regarded for its ‘rare combination of technical excellence, market knowledge, strong negotiating capabilities and great people skills’. The practice is especially accomplished in the UK banking and payment services sectors, acting across a sizeable breadth of matters such as regulatory capital, prudential governance and policy developments. Jan Putnis serves as practice head, leveraging a far-reaching roster of expertise in matters such as structural reform work, corporate and commercial transactions, resolution planning and regulatory reform; he is supported at partner-level by Nick Bonsall, an optimal capital structure, risk transfer arrangement and governance arrangement expert. Kristina Locmele disperses considerable knowledge of e-money, consumer credit and payment services affairs, while fellow senior counsel Tim Fosh has expertise in bank capital structuring issues, cryptoassets, AI and derivatives regulation.

Practice head(s):

Jan Putnis

Other key lawyers:

Nick Bonsall; Kristina Locmele; Tim Fosh


‘The Slaughter & May team have a rare combination of technical excellence, market knowledge, strong negotiating capabilities and great people skills. They are a pleasure to work with and even in the most stressful time pressured environments always approach their work with complete professionalism and good humour.’

‘Nick Bonsall and the team truly stand out. What differentiates them from competitors is their innate ability to understand and analyse our business goals/needs and construct a way of realistic way to achieve them in a compliant and beneficial way for our customers, our business and our shareholders. They do this quickly and are able to always keep pace with what has been a challenging market and regulatory backdrop.’

‘An ability to focus a number of very able and committed individuals on the matter at hand, and scale up and down teams as required. This is something uniquely well down by Slaughter and May in my experience.’

‘Nick Bonsall is exceptionally friendly and approachable; very strong on regulatory matters. The firm has a wide experience of working on cutting edge and tricky issues across industry sectors and brings this to be bear in its advice and approach.’

‘Kristina Locmele is a fantastic senior counsel who works with our team on complex regulatory and product matters. She is a trusted pair of hands who is able to engage with the real-world challenges faced by our business.’

‘The team provide a depth of experience and expertise with knowledgable and credible individuals supported by experienced partners who work together to provide good coverage in a number of evolving areas.’

‘Tim Fosh at Slaughter & May demonstrated depth of knowledge and understanding of evolving businesses applied to existing regulatory frameworks. Built his understanding of our business and leveraged the team at S&M to provide cohesive and coherent advice and guidance.’

Key clients

Standard Chartered

SC Ventures

abrdn plc


Softbank Vision Fund 2

OneSavings Bank






Work highlights

  • Advised abrdn plc (formerly Standard Life Aberdeen plc) on the issuance of subordinated contingent convertible notes.
  • Advised SC Ventures on its partnership with BC Technology Group, Asia’s leading digital asset company, to launch a digital asset brokerage and exchange platform for institutional and corporate clients in the UK and Europe.
  • Advised on a range of regulatory, new product and territory initiatives across the UK and Europe.

Travers Smith LLP

Travers Smith LLP, famed for its ‘broad experience’ and ‘in-depth knowledge’, caters to alternative asset managers, private equity groups and financial markets infrastructures on a varied roster of matters; examples include financial services M&A, pension trustee work, investment banking and corporate finance. The practice is led by Tim Lewis, who leverages a long-standing relationship with several prominent private equity and debt fund managers, and is also home to Phil Bartram, a key contact for banks, brokers, investment banks, payment institutions and fintech clients. Elsewhere, Stephanie Biggs supports asset managers on fund formation, operational and compliance issues and cross-border affairs, while senior consultant Mark Evans remains active in the team, often contributing to thought-leadership programmes in the wider market. At the more junior end of the partnership spectrum, Michael Raymond is called upon for guidance on regulatory changes, both in respect of UK and EU financial services laws, while Natalie Lewis possesses significant e-money, fintech and payments expertise.

Practice head(s):

Tim Lewis

Other key lawyers:

Phil Bartram; Stephanie Biggs; Mark Evans; Michael Raymond; Natalie Lewis; Danny Riding; Henriika Hara


‘Excellent team, highly regarded in the industry.’

‘Stephanie Biggs and Danny Riding provide excellent regulatory support and advice.’

‘The team has broad experience within areas of regulatory matters which singles them out in the market and are always easily accessible.’

‘Phil Bartram is very easy to work with and seems to always be on top of things.’

‘Professional and cordial sums it and that is really what one is looking for.’

‘I thoroughly enjoy working with Tim Lewis (partner) and Henriika Hara (senior counsel). They not only provide tailored, bespoke advice as they know us so well, but are also extremely efficient and collaborative. They are both excellent technical specialists who help translate unclear legislation into meaningful, practical guidance, which is invaluable as an in-house lawyer. A complete pleasure to work with them both.’

‘Stellar client list, ensuring advice is market tested. Technically strong. Good at all levels, not just partner level.’

‘Michael Raymond is very strong technically. He is clearly very focused on delivering the best possible service for his clients, and he achieves that time after time.’

Key clients

Bain Capital Group


Apax Partners

Alternative Investment Management Association, Alternative Credit Council, Managed Funds Association, Invest Europe, British Private Equity and Venture Capital Association

CLS Bank International

Fnality International Limited


Euroclear Group

NEST Corporation

Intermediate Capital Group


Work highlights

  • Acting as advisers on sustainable finance for alternative asset management firms globally, advising US, UK and EU clients on ESG, covering matters arising from the EU’s Sustainable Finance Disclosure Regulation (SFDR), Taxonomy Regulation and other sustainability laws, as well as on related UK regulatory initiatives.
  • Advised Intermediate Capital Group (ICG) on its acquisition of Broadstone, one of the UK’s leading independent providers of specialist pensions, trustee and employee benefits solutions.
  • Advising Euroclear UK & International Limited on the implementation of an entirely new, utterly bespoke payments mechanism to support CREST settlement in Euros.

Addleshaw Goddard

Active on a number of fronts, Addleshaw Goddard is particularly accomplished in the retail investment, investment management and insurance advisory fields. Amanda Hulme serves as practice head, honing her focus on retail and SME banking matters, namely paperless and digital delivery, branch redesign and access to cash matters. Rosanna Bryant serves as the group’s transactional specialist, leading on banking deals and Part VII arrangement mandates, while Lorna Finlayson’s core strengths encompass ESG compliance, EBA outsourcing and ring fencing issues.

Practice head(s):

Amanda Hulme

Other key lawyers:

Rosanna Bryant; Lorna Finlayson; Ben Koehne; Steven Francis; Richard Small


‘Great work with AG consulting. They’ve been very supportive to me and obviously the team are at the top of their game in the regulatory space.’

‘Rosanna Bryant and the team are very client centric, commercial and accommodating.’

‘Steven Francis is a standout.’

Key clients

FNZ (UK) Ltd

Frontier (IP)

Hiscox UK

Jordan International Bank


Reclaim Fund Ltd

Central England Cooperative

Yorkshire Building Society

Metro Bank


Work highlights

  • Worked with investment platform provider FNZ on the launch of FNZ Impact, an innovative tool allowing investors and advisers/managers to assess their portfolios and potential investments against independent ESG criteria.
  • Acting as adviser to Reclaim Fund Ltd (RFL), which operates the UK dormant assets scheme, advising on the redesign and change to its ownership and governance structure following the decision by the Office of National Statistics to classify RFL as a public body for statistical purposes and on the substantial expansion of the UK dormant assets scheme.


At Ashurst, expertise is far-reaching and encompasses digital assets, governance, funds management and post-Brexit advice, among many other matters. The team is led by Jake Green, a specialist in AIFMD and MAR, and is also home to Tim Cant who serves as an authority on MiFID II, having previously worked with the FSA and HM Treasury. Etay Katz has been at the practice since May 2021, during which time he has supported a number of leading banks on sizeable regulatory change projects. Recently promoted partner Lorraine Johnston routinely supports on ESG regulatory compliance matters in addition to financial services governance affairs.

Practice head(s):

Jake Green

Other key lawyers:

Tim Cant; Etay Katz; Lorraine Johnston; Bradley Rice


‘Tim Cant is responsive and commercial.’

Key clients

Marcus by Goldman Sachs

Oak Hill Advisors



Peel Hunt

OSTTRA a joint venture between CME Group and IHS Markit

Monument Bank

General Atlantic

Tritax Management LLP

Coutts & Co

Work highlights

  • Acting as AFME’s counsel in respect of its digital transformation and its response to ESMA’s (the European securities markets supervisor) call for evidence on the DLT Pilot Regime.
  • Advised Santander on its group implementation of the new IFPR prudential regime.
  • Advised longstanding client Oak Hill Advisors on the UK corporate, regulatory, tax and employment aspects of the acquisition of Oak Hill Advisors by T.Rowe Price.

Bryan Cave Leighton Paisner

Bryan Cave Leighton Paisner is hailed for its ‘very strong regulatory understanding’ of everything from ad hoc compliance through to sizeable regulatory change endeavours. Polly James fronts the practice which is home to Matthew Baker, a specialist in transactions relating to regulated businesses, as well as Daniel Csefalvay, a lawyer with a prominent track record in advising on regulatory risk matters, including those with a cross-border component. Further key strengths include ESG matters within the investment management sector, EU and UK-related compliance issues and the representation of senior management in respect of personal regulatory responsibilities.

Practice head(s):

Polly James

Other key lawyers:

Matthew Baker; Daniel Csefalvay; Joanna Munro


‘The team is extremely responsive and versatile. BCLP is able to help us navigate uncertainties from regulatory reporting to outsourcing to regulatory horizon scanning. The team is willing to go above and beyond to better understand our business model and provide bespoke advice.’

‘Daniel Csefalvay and Joanna Munro work very hard to meet our high expectations and are generous with their time. Their high-quality work is much appreciated.’

‘Matthew Baker – Matt has the ability to provide detailed technical regulatory analysis to non specialists in a way that provides confidence and is easily accessible.’

‘On matters that cross various disciplines, BCLP partners from different areas work together to ensure complete advice and coverage.’

‘Daniel Csefalvay provides practical advice which is essential in the regulatory environment.’

‘Very strong regulatory understanding in terms of the FCA. I have worked with Polly James and her team over many years in the insurance sector. They are extremely responsive, and the work is always of a high quality. They have access to a wide range of specialisms within the firm which has been a great help on several occasions. Overall they are a pleasure to work with in addition to the above.’

‘Highly responsive. Organised and proactive. Succinct.’

‘Polly James and Joanna Munro both stand out.’

Key clients


BCA Market Place (BCA)


Work highlights

  • Advising Playtech on: (i) the proposed sale of its financial trading division, Finalto; and (ii) its agreed takeover by Australian company Aristocrat Leisure.

DLA Piper

At DLA Piper, the team caters to global banks, financial institutions, insurers, regulators and fintech players, among others, on a broad array of domestic and multi-jurisdictional issues, including fintech, transactional and regulatory investigation matters. Tony Katz has garnered significant exposure to UK, US, EU and Asian regulation, serving as practice co-head with Michael McKee who brings over 30 years‘ worth of experience to the table and has amassed considerable expertise in MiFID II and securities regulation, PSD 2 and payment regulation, and the corporate governance of financial institutions; he is also well-versed in European Directives and PSD implementation in addition to wealth management and private banking matters. Senior associate Chris Whittaker is singled out as ‘one to watch’, owing to his knowledge of securities requirements, regulatory authorisations and conduct of business regulations.

Practice head(s):

Tony Katz; Michael McKee

Other key lawyers:

Stuart Murdoch; Chris Whittaker


‘For me, DLA Piper are the first choice for any large scale FS outsourcing projects in the UK. They have a very strong team in terms of skills/capability and a broad base of relevant expertise and experience. I’m very confident we made the right choice with DLA Piper and I would have no hesitation is recommending them.’

‘They are very pragmatic and provide good commercial advice.’

‘Chris Whittaker is one to watch. He handles all of our work and we trust him with all of our regulatory work. We wouldn’t go to any other firm for regulatory work so long as we can work with Chris.’

Key clients

UK Finance

Northern Trust

Key Group

Financial Conduct Authority

Currys plc

Secured Trust Bank

Willis Towers Watson

Abrdn Standard Life

Aberdeen Corporate Services Limited

Sunrise Brokers LLP

London Stock Exchange

Work highlights

  • Advising UK Finance (representing c.300 banking and finance companies) on its responses to the FCA consultation papers on the new consumer duty.
  • Advising UK Finance (which was representing a number of UK banks) in its negotiations with the Post Office on a proposed three year extension to the Banking Framework.
  • Advised Northern Trust on its global trading book arrangements in the context of the US Securities and Exchange Commission’s rule 15a6.

Herbert Smith Freehills LLP

Herbert Smith Freehills LLP spreads its expertise across fintech, wholesale securities market regulation, crypto assets, regulated outsourcings and regulatory capital matters. The practice is led by Clive Cunningham, a lawyer with over 30 years’ experience in banking, securities and asset management affairs, who works alongside Marina Reason, a November 2021 arrival from Linklaters LLP; she joins with a wealth of experience in licensing, restructuring, multi-jurisdictional compliance, conduct of business, governance and corporate transaction mandates, catering to investment banks, brokers and asset managers in addition to private and retail banks.

Practice head(s):

Clive Cunningham

Other key lawyers:

Andrew Procter; Geoffrey Maddock; Marina Reason


‘Expertise and excellent judgement.’

‘Clive Cunningham is excellent. He has taken the time to understand our complicated structure and situation as entities outside of the UK. He provides sound, practical advice interpreting the legal requirements. He keeps the big picture in mind while providing advice which results in avoiding issues in future.’

Key clients

The Ardonagh Group

Comcast Corporation


EML Payments

Work highlights

  • Acted for Ardonagh Group on the regulatory elements of its multi-jurisdictional $500m acquisition of BGC Partners’ insurance broking operations, Corant Global.
  • Acted for EML Payments Limited on its acquisition of the entire issued share capital of Sentenial Limited, a European Open Banking and Account-to-Account payments provider.
  • Acted for Hines on the acquisition of Helix, one of the UK’s leading specialist commercial property management companies.

Hogan Lovells International LLP

With a team well-regarded for its ‘excellent international expertise’, Hogan Lovells International LLP demonstrates a tenacity for the full suite of transactional, fintech, governance, financial services structure, product development, documentation and multi-jurisdictional regulation affairs. Rachel Kent caters to banks, investment and wealth managers, financial infrastructures and insurers alike and is especially acclaimed for her work on Brexit-related issues. The practice is led by Michael Thomas whose vast knowledge encompasses UK and EU regulations, MiFID II, EMIR, Benchmark Regulation, initial financial services set-ups and outsourcing arrangements.

Practice head(s):

Michael Thomas

Other key lawyers:

Rachel Kent


‘Excellent international expertise in very specialized areas (regulation of securities exchanges and clearinghouses). Communication is excellent and they meet deadlines without fail.’

‘Michael Thomas, relationship partner. He is highly responsive and ensures that we have complete transparency in billing.’

Key clients



BNP Paribas

BNY Mellon


Goldman Sachs



The London Metal Exchange / LME Clear

The Montreal Exchange




The Depository Trust & Clearing Corporation


Work highlights

  • Advising a global financial services client on all legal aspects of the integration of an online retail wealth manager and robo advisor into the wider group, following the group’s acquisition of the wealth manager in 2021.
  • Assisting a leading bank in the strategic expansion of its business beyond its core banking and lending propositions to include investment business – in particular, offering an online securities dealing capability.
  • Advising a digital asset service provider on all the legal aspects relating to its launch in the UK and advising on the legal aspects of the design of its new investment products and services.

Kirkland & Ellis International LLP

Kirkland & Ellis International LLP's team is headed up by Lisa Cawley, a lawyer especially adept in the regulatory aspects of transactions, compliance matters and assisting private investment funds; her team was recently bolstered by the January 2022 arrival of Julia Dixon from Linklaters LLP, a move which strengthens the team’s already reputed asset management and private equity capabilities. Elsewhere, Adam Skinner delivers regulatory and risk-management advice to major funds and Deirdre Haugh is well-regarded for UK and EU regulations such as FSMA, MiFID II and AIFMD.

Practice head(s):

Lisa Cawley

Other key lawyers:

Julia Dixon; Adam Skinner; Deirdre Haugh; Prem Mohan


‘Lisa Cawley and Adam Skinner are recommended.’

‘The team provides a stellar legal service across the board: responsive, polished and, above all, always pragmatic. No matter how large or complex the matter or how compressed the timeframe, I have confidence that K&E will deliver. K&E has seamlessly handled any cross-border aspects of our matters (of which there are many), either through its own offices or via its network of local counsel contacts.’

‘Prem Mohan makes the complexities of UK and EU financial services regulation perfectly navigable. He is incredibly responsive and gives total commitment to any mandate.’

Key clients

Warburg Pincus


Apex Acquisition Company Limited


H.I.G Capital

Lion Capital

Starwood Capital

Nordic Capital

Vitruvian Partners


TPG Capital

GHO Capital

Thoma Bravo


HPS Partners, Madison Dearborn Partners

EQT Partners

GI Partners

Hellman & Friedman

Flexpoint Ford


Work highlights

  • Represented AJAX I on the regulatory aspects of its business combination agreement with Cazoo Holdings Limited.
  • Represented new client Preservation Capital Partners in its acquisition of Parmenion Capital Partners.
  • Represented Flexpoint Ford in its recommended cash acquisition of AFH Financial Group Plc.

Reed Smith LLP

At Reed Smith LLP, the practice is co-led by Robert Falkner and Chris Borg, the latter is an expert in commodity trading, futures and options, among other derivatives-related regulatory affairs. David Calligan is likewise integral to the offering, having amassed significant expertise in the full array of UK and EU financial regulation, a forte which often sees him engaged by CFD and FX trading businesses. Key sectors include the real estate, commodities and fintech industries.

Practice head(s):

Chris Borg; Robert Falkner

Other key lawyers:

David Calligan; Tim Dolan; Karen Butler; Claude Brown; Brett Hillis


‘Thoughtful and proactive.’

‘Technically very good, user friendly, commercial, responsive.’

‘Tim Dolan – excellent communicator and delivers quality work quickly, very helpful and responsive.’

Shearman & Sterling LLP

With ‘broad experience across financial services sectors’, Shearman & Sterling LLP is especially well placed to support on matters which intersect the UK, US and EU markets. Barney Reynolds fronts the practice, acting on an array of transactional and advisory matters, particularly UK and EU regulatory laws, new services, business structures and post-Brexit trade models; he is supported at partner level by Thomas Donegan whose workload spans the banking, brokerage, insurance, derivatives and commodities fields. Further key strengths include MiFID II and PRIIPS matters, regulatory-driven projects, fintech-related initiatives and economic sanctions.

Practice head(s):

Barney Reynolds

Other key lawyers:

Thomas Donegan


‘Highly pragmatic and approachable. Ability to take a very international view. Drawing on deep and broad range of transaction experience.’

‘Barney Reynolds and the team go the extra mile to be there when needed.’

‘Excellent lawyers at every level.’

‘Barney Reynolds and Thomas Donegan have broad experience across financial services sectors. Are personable, easy to work with and responsive. Their engagement provides confidence that the best and most experienced professionals are partnering with you.’

Key clients

Bank of America

The Public Investment Fund/NEOM

Fairfax Financial Holdings Limited

Vietnam Financial Centre


The Intercontinental Exchange

Bondholders and the Creditors’ Committee of London Capital & Finance Plc

Zürcher Kantonalbank

Wells Fargo


Intuit Inc.

ICE Futures Abu Dhabi

Abu Dhabi Global Market

Attestor Limited

Work highlights

  • Advised Bank of America extensively on regulatory issues on its proprietary business and transactions throughout the course of 2021.
  • Advised certain bondholders and the creditors’ committee of London Capital & Finance Plc in relation to the development of special legislation and an HM Treasury ad hoc scheme for compensation.
  • Advised The Intercontinental Exchange extensively on regulatory issues throughout the course of 2021.

Baker McKenzie

Baker McKenzie serves a broad client roster of financial institutions, payment service providers, fintech entities and asset management clients; the practice is especially well-versed in cross-border, M&A-related, derivatives and ESG mandates and is led by Mark Simpson, a lawyer with distinct expertise in supporting fintech players in their expansion in the UK and throughout the globe. Caitlin McErlane is the other key name, owing to her know-how in day-to-day compliance issues, regulatory implementation projects and related transaction advice.

Practice head(s):

Mark Simpson

Other key lawyers:

Caitlin McErlane

Key clients


Metlife Investment Management


Two Sigma

NinetyOne Plc

Flatex DeGiro

Lombard Insurance

Blue Sky Group

Deposit Solutions

Dechert LLP

Dechert LLP counts numerous leading asset managers among its client roster, supporting with on-site English and US-law capabilities in its London office. The practice’s considerable cross-border capabilities mean that it often engages with multiple regulators at once, including the SEC, FCA, BaFin and AMF, and it is particularly accomplished in terms of fund and product launches. Gus Black leads the practice which also counts Richard Frase and Karen Anderberg among its star names.

Practice head(s):

Gus Black

Other key lawyers:

Karen Stretch; Richard Frase; Karen Anderberg


‘This team is incredibly driven and efficient. They provide a complete and cohesive service for any investigator carrying out an investigation. Their technical data management and digital abilities are second to none.’

‘Richard Frase (partner) has an unparalleled knowledge and deep understanding of the intricacies of financial legislation and regulation. He can always be relied upon for a thoughtful and correct identification and analysis of the relevant statutory provisions.’

‘Karen Stretch has an impressive mastery of the topics she covers and presents convincingly.’

‘It just works, makes detangling some thorny complex queries easier and their collaboration with colleagues in other practice areas and jurisdictions makes for a smooth experience for us as a client.’

‘Dechert are our relationship firm for financial regulatory work. Over the past year, they have advised across a variety of different matters. Some of those were routine, others linked to regulatory changes.’

‘Richard Frase is an extremely knowledgeable and hard-working lawyer. He is an incredibly impressive individual.’

Key clients

Financial Conduct Authority (FCA)

T. Rowe Price

Work highlights

  • Acting as lead counsel to T. Rowe Price Group on all aspects of its acquisition of Oak Hill Advisors, an alternative credit manager.  


Dentons is geared to support on regulatory capital, licensing and conduct of business requirements, among others, leveraging its far-reaching international platform to support on both domestic and cross-border matters. Practice head Greg McEneny is distinctly well-placed to support on derivatives, securities and market infrastructure affairs.

Practice head(s):

Greg McEneny

Other key lawyers:

Jonathan Garforth


‘The team are well resourced and highly skilled. They take the time to understand our industry and requirements.’

Key clients


ING Bank, N.V.

Multi Service Technology Solutions, Inc doing business as TreviPay

PCF Bank

PayPal, Inc

Work highlights

  • Advised TreviPay and its owners on a highly strategic and complex sale of TreviPay’s European Toll Card business to Shell.

Mayer Brown International LLP

Mayer Brown International LLP leverages the firm's presence in London, New York and Hong Kong to cater to an array of domestic and multinational banks, asset managers, insurance companies and investment businesses. Chris Chapman serves as practice head and is an expert in both UK and EU law matters including cross-border deals and matters involving regulatory and law enforcement agencies, the FCA and PRA included. Musonda Kapotwe joined from an in-house role at Barclays in October 2021 and arrives with regulatory project implementation, recovery and resolution, regulatory capital and outsourcing know-how.

Practice head(s):

Chris Chapman

Other key lawyers:

Neil Macleod; Musonda Kapotwe


‘Chris Chapman and his team have a good understanding of regulatory developments including in relation to remuneration and nomination topics.’

‘Chris Chapman is excellent. He understands very quickly what we need and then delivers it. He is a pleasure to work with.’

‘A strong team with increasing depth.’

‘Chris Chapman is brilliant – he is always across the detail and has great judgment.’

‘The team at Mayer Brown is excellent, very responsive, diligent and practical. They are very client focused, and able to give very sensible pragmatic advice to clients.’

‘Chris Chapman is very good, he is provides excellent mixture of technical legal analysis coupled with real world pragmatism and is very good at thinking through solutions and next steps.’

‘Chris Chapman is brilliant – he immediately hones in on the key issues and then provides thoughtful solutions to financial regulatory issues. His calmness under pressure also makes him fantastic to work with. I can unreservedly recommend him.’

‘I have been working closely with Chris Chapman, Musonda Kapotwe on a challenging international regulatory matter, involving complex legal issues, and difficult strategic questions. The team is outstanding – focused, innovative, very well organised, and dedicated to obtaining the best outcome possible for the client. Couldn’t really ask for more!’

Key clients


Work highlights

  • Engaged by the Financial Conduct Authority (FCA) in relation to an independent external investigation into the FCA’s handling of the Connaught Income Fund prior to its collapse in controversial circumstances.

Paul Hastings LLP

At Paul Hastings LLP, cornerstones of the practice include handling ESG initiative and anti-money laundering issues, licensing and international expansion affairs, fund structuring mandates and M&A, among many other matters. Practice head Arun Srivastava counts fintech-related regulatory obligations and cross-border product and services offerings across the EU among his specialist fields of expertise.

Practice head(s):

Arun Srivastava

Other key lawyers:

Nina Moffatt; Konstantin Burkov


‘The Paul Hastings Regulatory team are key to the success of my own team. They are so good at what they do that we regard them as an extension of our own regulatory team. Arun Srivastava leads the PH team and he is an absolute star.’

‘We have used many different law firms in the FS regulatory space but Arun and his team are the best. They are commercial thinkers – always being solution focused. They are also proactive – sending constant updates on new laws impacting my business.’

‘Arun Srivastava – phenomenal. He is incredible to work with. Takes a commercial view. So proactive in his support of us that I see him as a true partner – not just a third party adviser. His understanding of legal matters is unmatched in my opinion. No weaknesses I have identified.’

‘The team provided depth of experience in the topic which is an emerging area of regulation in the financial markets. We have history working with the team on other topics and on this particular recent engagement their strong handle of the regulation made them our trusted partner.’

‘The individual on the day to day was extremely diligent, providing pragmatic opinion to address how our firm needed to implement the regulatory recommendations and mandatory disclosures.’

‘Collectively, the Paul Hastings team is a perfect blend of professionalism, knowledge and optimal client service. Their speed on execution, while maintaining the highest professional standards and industry knowledge is clearly remarkable.’

‘We have worked with the cross border regulatory team for several years and they understand our requirements and combine legal expertise with commercial awareness. They are great to work with, very practical and good at helping us find solutions.’

‘Arun Srivastava and Konstantin Burkov. Very experienced, practical, easy to work with and great at helping us form risk based decisions.’

Key clients

American Express

Bangkok Bank Accenture

JP Morgan

Waverton Investment Management

Work highlights

  • Advised a number of UK, EU and non-EEA asset and fund managers on the European Union’s Sustainable Finance Disclosure Regulation (SFDR) and Taxonomy Regulation.
  • Advised a number of UK and non-EEA (mainly US) fund managers on the new pre-marketing and marketing regimes under the AIFMD and the new cross-border fund distribution directive and regulation.

Pinsent Masons LLP

The team at Pinsent Masons LLP operates across the retail products, investment fund, insurance, consumer finance and fintech fields, serving a roster of high street banks, insurers, start-ups, building societies, brokers and asset managers. David Heffron leads the practice, leveraging considerable experience in the structuring and distribution of financial services products, regulatory-related M&A considerations, and the authorisation and conduct of business issues.

Practice head(s):

David Heffron

Other key lawyers:

Elizabeth Budd; Andrew Barber


‘A very experienced, technically strong and commercially minded team, providing timely, personal support.’

‘David Heffron has consistently provided relevant, commercially focused advice that is demonstrative of a deep understanding of the regulatory environment in which we operate.’

‘The individuals I work with from Pinsent Masons are knowledgeable and experienced in their field of work; approachable; listen to the concerns/issue and frame their responses and input appropriately to best meet the requirements.’

Key clients

Aegon UK PLC

AXA Group


Lloyds Banking Group

Post Office Limited

Railpen Investments

Royal London Group

Standard Life (Standard Life Employee Services Limited)

TISA Exchange Limited

UK Finance

Wesleyan Assurance Society

Work highlights

  • Advised Wesleyan Assurance Society on the sale of Wesleyan Bank Limited and subsidiaries to Hampshire Trust Bank, a specialist lender backed by funds managed by Alchemy Partners.
  • Engaged by UK Finance to provide legal and regulatory support in relation to its Access to Cash Action Group.
  • Advised Royal London on its acquisition of Wealth Wizards, a fintech business, from Liverpool Victoria.

Sidley Austin LLP

Sidley Austin LLP is home to a comprehensive array of services, routinely acting on investment fund, payment services, fintech and UK/EU securitisation regulation in addition to anti-money laundering issues and financial sections compliance programmes. John Casanova, who previously spent time in the firm’s Washington DC office, has a track record in supporting clients through the establishment and operation of ventures in the UK, EU and Asia; he co-leads the team alongside Leonard Ng, an expert in ESG, sustainable finance, crypto-asset and Brexit-related regulation.

Practice head(s):

John Casanova; Leonard Ng

Other key lawyers:

Rachpal Thind; Max Savoie


‘They are good with UK financial regulatory advice, and have a broad enough network of offices to know many other relevant jurisdiction’s law allowing for “one-stop shopping” for advice. High quality firm.’

‘Rachpal Thind is amazing, getting all the facts to find ways to minimize regulatory burdens relating to our UK financial services investments. She also does a good job of “quarterbacking” regulatory counsel teams in different jurisdictions to get the investing client the right results.’

Key clients

Angelo Gordon

Generation Investment Management

Perpetual Limited (Australia)

Managed Funds Association

Citadel Group

Deutsche Bank (New York)

Parthenon Capital Partners


Akin is famed for advising investment managers in respect of regulatory commitments and requirements, including the full spectrum of applicable EU and UK legislation. Ezra Zahabi fronts the offering, demonstrating a tenacity for compliance, market abuse and market conduct, fund structuring, distribution and marketing mandates.

Practice head(s):

Ezra Zahabi

Other key lawyers:

Joe Hewton


‘The firm’s practice culture is particularly impressive. We have frequently found Akin Gump are able to mobilise a highly-skilled team of cross-specialism advisers to grapple with various unforeseen and particularly knotted issues, often under exigent circumstances. Akin Gump also partner well with our other advisers and they have demonstrated a flare for galvanising and providing leadership across large transaction groups, even where party interests are sharply divergent.’

‘From a regulatory perspective, our key stakeholder and point of contact has been Joe Hewton. Across a very complicated and challenging restructuring transaction, Joe has provided leadership and stewardship to a large and internationalised group of internal stakeholders and our other local legal advisers in connection with a variety of complex deliverables. Joe has shown significant determination and resolve in bringing a fraught and difficult restructuring process to an effective close, for which we are very grateful.’

Key clients

Ad Hoc Group of Noteholders of Valaris plc

Ad Hoc Committee of Convertible Bondholders of Hurricane Energy plc

Ad Hoc Committee of Noteholders of Nostrum plc

Royalty Pharma Plc

Work highlights

  • Advised the Ad Hoc Group of Noteholders of Valaris Plc in relation to the financial regulatory aspects of the financial restructuring of UK offshore drilling contractor Valaris plc and its outstanding debt liabilities of approximately $7.1bn.
  • Acted for the Ad Hoc Committee of Noteholders of Nostrum Oil & Gas Plc in relation to the financial restructuring of Nostrum and its outstanding debt liabilities.
  • Advised Royalty Pharma, a US-based biopharmaceutical company, on regulatory considerations in connection with the launch and IPO of a new pharmaceutical royalties undertaking incorporated in the UK and listed on Nasdaq.

Charles Russell Speechlys LLP

At Charles Russell Speechlys LLP, the practice divides its attention between private banking, wealth management and private fund matters, broking trading and markets affairs, crypto assets and equity capital markets advice. The practice is helmed by William Garner whose fields of acquired expertise include the establishment, operation and regulation of trading platforms, including MFTs and OFTS, as well as proprietary trading across the full gamut of asset classes.

Practice head(s):

William Garner

Other key lawyers:

David Hicks; Edyta Brozyniak; Victoria Younghusband


‘The firm has a deep knowledge and understanding of financial services and regulation. It is my go-to firm due to its deep pockets of experience, which make it stand out against larger firms, particularly in the crypto space and areas of trading and markets.’

‘William Garner combines unparalleled knowledge in the space with strong commercial awareness which other firms struggle to bridge. His professionalism and ability to navigate and overcome challenges in the complex world of regulation is outstanding.’

Key clients

EFG Private Bank

FairXchange Limited

FIL Investment Services (UK) Limited


C Hoare & Co.

LGT Vestra



Credit Suisse

Waverton Investment Management

Work highlights

  • Continuing to provide ongoing specialist financial services advice to Coinbase for its non-US based businesses.
  • Acting as sole outside counsel for Lanistar, the polymorphic payment card provider, and advising on both financial services regulatory advice and all other advice including intellectual property matters.
  • Advised FairXchange Ltd on the acquisition of a 25% stake by United Fintech Ltd.

Deloitte Legal

At Deloitte Legal, the client roster spans a broad array of financial services players including banks, insurance companies, fintech and cryptocurrency businesses, fund managers and e-money issuers. Jake Ghanty leads the practice, which is geared to support on multi-jurisdictional affairs, and is especially acclaimed for his knowledge of payments laws and regulations.

Practice head(s):

Jake Ghanty

Other key lawyers:

Chris Hill; Paul Hinton; Clare Jenkinson


‘Good experience in supporting fintech businesses given their Kemp Little origins. Great support on payment services regulations.’

‘Chris Hill is always sensible, helpful and commercial and able to bring his experience to bear on problems.’

‘Responsive to the needs of a fast-moving start-up, deep understanding of fintech.’

‘Jake Ghanty had exceptional understanding of the nuanced regulatory considerations facing fast-moving fintech – in our case covering both payments and insurtech. His guidance was key in the launch of our start-up.’

Key clients Ltd

Motorpoint Ltd

Union Investment

Genpact WM UK Ltd

Crown Agents Bank

Chip Financial Ltd

Assure Hedge UK Ltd

Fleetcor Technologies Inc

Mosaic Health Ltd

Goldmoney Vault Ltd


Adept in banking, trading, capital markets, fintech and retail product regulation, Fieldfisher ‘punches above its weight’ when delivering its ‘uniquely client-friendly service’. Duncan Black leads the practice and demonstrates particular prowess in respect of money laundering and market abuse matters.

Practice head(s):

Duncan Black

Other key lawyers:

Nicholas Thompsell


‘They punch above their weight in derivatives, which is generally an area dominated by very large firms. A very strong financial services regulatory practice.’

‘Great mix of people from a diverse range of backgrounds. Uniquely client-friendly and down-to-earth, which are qualities consistent among their staff. They really treat the issue that you are dealing with as if it was their own.’

Key clients

Triland Metals Limited

Sumitomo Mitsui Trust International Limited

Currencies Direct Financial Markets Limited / Currencies Direct Ltd

Morgan Stanley & Co (International) plc

StoneX Financial Limited

Aros Kapital Ltd

Fox Williams LLP

Lawyers at Fox Williams LLP serve a client roster of banks, crypto-exchanges and wallet providers, asset managers, insurers and electronic money issuers. Practice head Chris Finney is knowledgeable on a number of fronts including advising on consumer credit for fintechs, payment services, crowdfunding issues, securities laws and MiFID II, electronic money and peer-to-peer lending.

Practice head(s):

Chris Finney

Other key lawyers:

Pollyanna Deane; Jon Segal


‘Chris Finney – always available expert.’

‘Chris Finney and his team are responsive, easy to deal with and know their subject area and given clear and commercial advice.’

‘Chris Finney – always makes himself available and has a positive and clear communication style whether with other lawyers or directly with clients.’

Fried, Frank, Harris, Shriver & Jacobson LLP

At Fried, Frank, Harris, Shriver & Jacobson LLP, Gregg Beechey serves as practice head, routinely receiving engagements on MAR, AIFMD, MIFID II and EMIR considerations. The practice hones its focus on representing major fund sponsors, both European and global, on a wide spectrum of regulatory and compliance matters and forms part of the wider international global asset management practice.

Practice head(s):

Gregg Beechey


‘Gregg Beechey leads a stellar team that delivers sound advice and an excellent work product on a consistent basis. Highly recommended.’

‘The Fried Frank regulatory team has a broad practice within the industry which means they can give us pragmatic advice.’

‘Gregg Beachey is the stand-out private equity regulatory lawyer I have come across – his advice is clear and digestible, not unnecessarily hedged or caveated and with a strong view to what the industry is doing.’

Key clients


Arcmont Asset Management

Balderton Capital

Goldman Sachs

Greencoat Capital

Neuberger Berman

Dyal Capital Partners

Work highlights

  • Advised BlackRock in connection with the raising of its Climate Finance Partnership (CFP) Fund.
  • Advised on the structuring of the £3.6bn IPO of Petershill Partners, an investment group backed by Goldman Sachs on the London Stock Exchange.
  • Advised the London branch of UBS on how to restructure its distribution activities so as to ensure compliance with regulatory developments in the area (including the CBDD) and how to overcome regulatory challenges posed by Brexit and the consequent loss of passporting rights.

Gibson, Dunn & Crutcher

Gibson, Dunn & Crutcher is especially active in transactional work, supporting on the regulatory aspects of M&A, equity and debt capital markets work, private equity issues and outsourcing deals. The practice, which is headed up by risk management, strategic regulatory and fund regulatory expert Michelle Kirschner, is also acclaimed for its cryptoasset and personal accountability know-how.

Practice head(s):

Michelle Kirschner

Other key lawyers:

Matthew Nunan


‘GDC has advised our firm throughout a significant period of its existence. They are intimately familiar with our structure and are extremely able in providing clear advice on extremely short notice, often in relation to multi-faceted issues that arise. Very strong in terms of UK regulatory advice.’

‘Available at short notice and always willing to research an issue thoroughly before communicating a firm stance. Assisted with a very complicated regulatory license application and provided extremely helpful guidance, despite being brought on quite late in the process.’

Key clients

Stepstone Inc.

IPI Partners


Motive Partners





Centerview Partners

GHO Capital

Gowling WLG

Gowling WLG’s practice is led by Ian Mason, a specialist in FCA/PRA authorisation and the regulatory aspects of fintech, cryptocurrency and blockchain issues. He is supported by two standout principal associates: Sushil Kuner whose key strengths include cryptoassets, consumer credits and payment services, as well as Kam Dhillon, an expert in crowdfunding, market abuse and fund regulatory affairs.

Practice head(s):

Ian Mason

Other key lawyers:

Sushil Kuner; Kam Dhillon


‘Great team with strong commercial and technical skills.’

‘Individuals always available.’

‘Both Ian Mason and Sushil Kuner have excellent regulatory knowledge between them and both have invaluable FCA experience. We use Gowlings for advice about the UK’s consumer credit regime, FCA authorisations and financial promotions marketing. Both are highly reliable and equally personable.’

Key clients

AssetCo Plc

Klarna Bank AB

Molten Ventures Plc

H&T Group Plc

Birmingham 2022 Commonwealth Games

WH Ireland

Excelsior Insurance Company Limited

Octopus Renewables Infrastructure Trust plc

Work highlights

  • Serving as the sole legal adviser to AssetCo and providing Financial Services Regulatory advice in respect of AssetCo’s ‘buy and build’ strategy.
  • Advising Molten Ventures with respect to FCA Change in Control applications which may be necessary before Molten Ventures can make an investment into any FCA regulated fintech.
  • Advised Klarna Bank AB on a broad range of regulatory issues.

K&L Gates LLP

K&L Gates LLP leverages its international platform to act on an array of national, pan-European and transatlantic matters. Michelle Moran fronts the offering, earning acclaim for her knowledge of the establishment, authorisation and management of institutional investment and retail funds. The team has also been active on a number of ESG, MiFID II, EMIR, fintech, cryptocurrency and payment services-related mandates.

Practice head(s):

Michelle Moran

Other key lawyers:

Philip Morgan; Andrew Massey; Kai Zhang


‘Very client focused – advice is not generic – it is always practical and useful to our company.’

‘Helpful, always available and very knowledgeable. Great industry context.’

Key clients

Dimensional Fund Advisors

Federated Hermes

First Sentier

Manulife Investment Management (Europe) Limited


Katten leverages its transatlantic presence when catering to an array of investment funds, asset managers, exchanges, clearing houses, broker-dealers and proprietary trading businesses. Carolyn Jackson is an expert in the Dodd-Frank Act and European Market Infrastructure Regulation, while Nathaniel Lalone is a go-to for both buy and sell-side clients active in the derivatives, futures and securities fields. The pair are both dual-qualified in England and New York and front the practice alongside Neil Robson, a key port of call for cross-border work, new funds, day-to-day business and product launch matters.

Practice head(s):

Carolyn Jackson; Nathaniel Lalone; Neil Robson

Other key lawyers:

David Brennand; Edward Tran

Macfarlanes LLP

Macfarlanes LLP is particularly accomplished in the asset and wealth management, fintech, corporate finance and mortgage fields. Practice head Alexandra Green is a specialist in new product and service launches, perimeter questions, regulatory developments and anti-money laundering obligations.

Practice head(s):

Alexandra Green


‘We have been working with Macfarlanes for over a decade. Macfarlanes continues to provide good, reliable and consistent advice to us in the area of real estate financing and regulations.’

‘Alexandra Green has been responsive to us. Her fees and turnaround time are fair.’

‘Commercially practical, good response time.’

‘They understand all issues and questions that we have straight away and provide pragmatic advice and they explain everything in a very clear manner. They are extremely well experienced in the financial services/ regulatory area, so their knowledge is exceptional. The Team is extremely professional and always very helpful.’

‘We work with partner Alexandra Green, and it has been a great pleasure. She is very responsive, helpful, and exceptionally well experienced. She sees the entire picture and is always able to highlight the most important points. Her advice and comments on the contracts are straight to the point (no unnecessary back and forth). She is always ready to help, even with limited time. Each conversation with her is always very useful. One of the best lawyers I have ever worked with.’

Key clients


JC Flowers


Legal & General

Lindsell Train



Lord Oates

The Investment Association

Stonehage Fleming

Work highlights

  • Advised leading independently owned international multi-family office Stonehage Fleming on the regulatory aspects of the acquisition of the Private Client Services business of Maitland.
  • Working with the Investment Association in relation to the Financial Services Compensation Scheme (FSCS) rules.
  • Advised Alchemy on the regulatory aspects of a number of transactions.

Orrick, Herrington & Sutcliffe (UK) LLP

Orrick, Herrington & Sutcliffe (UK) LLP naturally counts its knowledge of transatlantic payment law as a key distinguisher. The practice is led by Jacqui Hatfield and is bolstered by her expertise in blockchain, crypto and bitcoin regulatory projects. Managing associate Rebecca James is especially active in the fintech space while other streams of work for the team include providing licensing, authorisation and compliance advice to banks and other financial institutions, as well as support to crowd funding, consumer credit and wealth management platforms.

Practice head(s):

Jacqui Hatfield

Other key lawyers:

Marco Boldini; Rebecca James


‘Excellent depth of team experience across a wide range of areas. Provides business focused results, understanding the underlying drivers of business, enabling activities to be conducted in a compliant manner. In interactions with regulators they have been very effective.’

‘The individuals on the team provide a no nonsense response, in a timely manner. Jacqui Hatfield as a lead partner is excellent. Marco Boldini as our European lead partner is always available and helps drive effective overall service.’

Key clients

PNC Bank

Bank of Kuwait


Vitruvian Partners LLP


Microsoft Corporation

MFM Investments Ltd


The Reserve

True Potential

Skew Ltd.

Finverity Ltd

BTON Financial Limited

Wirex Limited

Greenspring Associates

Vostok Emerging Finance

ManyPets (formerly Bought By Many)

The Movie Farm, Ltd

ETC Management Ltd

NerdWallet, Inc.

Argent Labs

Jacobi Asset Management Limited

Automata (

Koia Global Limited

BlockSwap Networks Ltd

Work highlights

  • Advising Pollen, a DeFi 2.0 asset management protocol for tokenised asset pools, in respect of its governance token issuance and crypto asset management platform.
  • Advising Wirex Limited, a borderless payment platform enabling users to buy, store, exchange and spend crypto and fiat currencies using the Wirex App, on all legal matters including UK and US regulatory matters.
  • Providing regulatory advice to Jacobi Asset Management, in relation to its Guernsey listed bitcoin ETF.


RPC is well-established within the insurance sector, routinely supporting industry players on the interpretation and implication of regulatory reform. Matthew Griffith heads up the department, representing insurance companies and brokers alike, and is especially well-placed to support on Brexit-related matters. The practice also has a flourishing payments, consumer credit and general financial services offering which has recently witnessed notable growth.

Practice head(s):

Matthew Griffith

Other key lawyers:

Whitney Simpson; Jonathan Charwat


‘A simple approach to legal matters. Making legal matters easy to deal with.’

‘Approachable, dedicated and an extension of our internal team. Always make time.’

‘The team are extremely professional and have a pragmatic approach. They are extremely knowledgeable and able to help promptly and efficiently with our queries.’

‘One of the key characteristics of the individuals is that they listen closely to our requirements. They take time to understand our business and help us achieve the desired outcome whilst ensuring we meet all of our legal and regulatory obligations.’

Key clients

LINK Scheme

Frasers Group




Inigo Managing Agent





Work highlights

  • Advising LINK Scheme, the UK payment system, on general advisory matters in relation to commercial, tech, outsourcing, regulatory, data, competition, restructuring and insolvency, litigation and public law.
  • Advised Markel, the global insurance group, and led on its large scale regulatory and commercial review project of over 40 insurance distribution agreements and circa 100 insurance policies.
  • Advising on the formation of a new managing general agent, ARTes Specialty, and its commercial arrangements with its insurance capacity providers, distribution partners and IT service providers.

Taylor Wessing LLP

At Taylor Wessing LLP, the team is especially well-regarded for its fintech expertise, a forte which sees it advise on an array of payment services, consumer lending, banking and wealth management affairs. The practice, which is headed up by Charlotte Hill, is also reputed for its cryptoasset, technology outsourcing and operational resilience know-how.

Practice head(s):

Charlotte Hill

Other key lawyers:

Laurence Lieberman; Katie Fry-Paul


‘The team has extensive knowledge within financial law.’

‘Katie Fry-Paul has an extensive knowledge within financial law. She delivers excellent advice within agreed time frames.’

‘Taylor Wessing, led by Charlotte Hill, has vast experience in the UK financial services sector, providing high quality work in various areas. The team is very knowledgeable in their specialised subject and very approachable in daily communications.’

‘We have been working closely with partner Charlotte Hill and associate Katie Fry-Paul in recent years to improve the Bank’s internal policies & procedures and relevant customer legal documentation in order to meet fast-changing regulatory requirements. They have provided valuable specific/tailored advice to suit our situation and produced high quality documentation in association with the requirement within schedule.’

‘Incredibly collaborative and responsive – Strategic and pragmatic legal advice – Great regulatory and market insights – Excellent speed of execution.’

Key clients

Interactive Investor

Nutmeg Saving and Investment Limited

Wealth Simple

White & Case LLP

White & Case LLP serves as the go-to for a breadth of clients including commercial and investment banks, broker-dealers, investment advisers, fintechs and payment companies. Jonathan Rogers fronts the offering and is reputed within the market for his knowledge of bank regulations, technology transaction projects, business licences, fund structurings and product/service establishments. The wider team is also acclaimed for its banking M&A, market disclosure, ESG, anti-money laundering and capital markets regulation capabilities.

Practice head(s):

Jonathan Rogers

Key clients

Crédit Agricole

Société Générale



Saudi Arabian Monetary Authority (SAMA)

Oaktree Capital


Meta (f/k/a Facebook)

Brewin Dolphin

BFC Bank

Burges Salmon LLP

Burges Salmon LLP garners a wealth of recognition for its activities in the fintech and insurance fields and is also home to considerable employment-related financial services regulation matters. The team is led by Tom Dunn and has noted an uptick in its transactional, structuring, Brexit and pension fund restructuring work.

Practice head(s):

Tom Dunn

Other key lawyers:

Jeremy Bell; Martin Cook; James Green; Ralph Lovesy


‘A very professional and knowledgeable team.’

‘James Green and his team have provided us with pragmatic and expert advice and service for a number of years now, within a financial services organisation.’

‘James Green is a brilliant lawyer, a highly professional and friendly individual, who has gone above and beyond to help and support.  James has always provided us pragmatic and thorough advice as well as excellent service.  I would highly recommend James.’

‘In dealing with them, we have felt that the need to find sensible and pragmatic solutions has been paramount. Ralph Lovesy helped guide us through a somewhat complicated situation, with great clarity.’

‘Ralph Lovesy was excellent in the way that he questioned us as to what we were hoping to achieve from the advice we were seeking, and then providing a clear road map to achieve the outcome we were after.  Whilst there was plenty of attention to the legal detail of the matter, a clear explanation of how we could use the approriate laws properly and to our benefit was paramount.’

Key clients

St. James’s Place

FundRock Partners Ltd

Bank of Ireland UK

Financial Services & Compensation Scheme (FSCS)

Marlborough Fund Managers

The Financial Conduct Authority

The Royal London Group (including The Royal London Mutual Insurance Society Limited and Royal London Asset Management)

Embark Group

Ecclesiastical Insurance Group

Premier Asset Management Group plc

M&G Wealth Advice Limited

Work highlights

  • Advised the Embark Group on its conditional sale to Lloyds Banking Group for £390m.
  • Advised the Edinburgh-based funds platform Nucleus on its £144.6m takeover by pensions and investment firm James Hay.
  • Reappointed as the Wales Pension Partnership’s sole external advisor.

Farrer & Co

Farrer & Co’s financial services offering is steered by Grania Baird, a wealth management, asset management and private banking specialist whose workload has recently encompassed post-Brexit projects, platform arrangements and outsourcing policies. The team is also adept in regulated business establishments, financial promotion rules, consumer credit regulations and mortgage conduct of business rules.

Practice head(s):

Grania Baird

Other key lawyers:

Nandini Sur


‘The team is very responsive, and provides focussed, commercial advice’.

‘Grania Baird, for her breadth of legal knowledge as well as industry awareness. Nandini Sur, for her commercial acumen and willingness to engage with business colleagues directly when advising.’

‘Very responsive and produce very good work.’

‘Very collaborative, hard working, pragmatic and knowledgeable.’

Key clients

Rathbones Group plc/Rathbone Investment Management Ltd

Arbuthnot Latham & Co., Limited

Royal Bank of Canada

Nedbank Private Wealth

Brookfield Asset Management

Canaccord Genuity Wealth Limited

SG Kleinwort Hambros

Handelsbanken Wealth Management and Handelsbanken plc

James Hambro & Partners LLP

Zedra Trust Company (UK) Limited

Work highlights

  • Advised Canaccord Genuity Wealth Group Holdings (Jersey) Limited on its £164m acquisition of the entire issued share capital of Punter Southall Wealth Limited, acquired from Psigma Wealth Limited.

gunnercooke LLP

gunnercooke LLP is forging a prominent reputation in the cryptoasset field with a roster of approximately 100 clients within the sector. The practice is also adept in supporting new funds and investment managers on set-up, AIFMD and certification matters, among others, and is also active within the payment services and electronic money industries. Key names include Edward Black and James Burnie.

Other key lawyers:

Edward Black; James Burnie


‘gunnercooke have a deep and talented bench of experts that can be called upon to advise on a wide variety of different matters. As a start-up we found their guidance has been invaluable.’

‘Our main partner is James Burnie. James remains a stand-out expert in his field, and he often keeps us informed of legal and regulatory changes that might impact our business before the changes come in to effect.’

‘James Burnie & Edward Black – both are superb. As a start-up crypto fund manager, much of what we are doing is for the first time so they have been very helpful, hand-holding us through the process. Their deep knowledge on esoteric technical aspects of the crypto market re-assured me. They are a great team.’

Key clients

Ziglu Limited





Nickel Digital Asset Management


Helford Capital Partners

Outlier Ventures incubator

Nettle Group

Old Street Digital

Arion Investment Management Limited

Work highlights

  • Assisted Ziglu with the legal and regulatory aspects of its business.
  • Involved in set-up of a crypto fund, up to $100m, of Old Street Digital which will invest via a range of strategies.
  • Advised Helford on new and unusual crypto trading set-ups and strategies and perform feasibility assessments on new structures and projects worth up to $25m.

King & Spalding LLP

King & Spalding LLP’s practice is co-headed by Aaron Stephens and Robert Dedman; the former is dual-qualified in the UK and US, often working in tangent with the firm’s US offices, and is well-versed in matters involving the FCA, PRA and SFO, among other regulatory agencies. Dedman leverages his experience as the head of enforcement at the Bank of England and PRA to support on an array of business-critical regulatory and enforcement advisory affairs.

Practice head(s):

Aaron Stephens; Robert Dedman


‘Very good insight and expertise in non-contentious regulatory queries. Excellent experience from prior roles at regulators. Also very good practical/risk based advice.’

‘Key factor that makes their service stand out is the team’s prior experience at other institutions. Where we value them is their ability to provide advice which is actionable and proportionate. In addition team is responsive and very approachable.’

Key clients

Stripe, Inc.

Utmost Group plc

Morgan, Lewis & Bockius UK LLP

At Morgan, Lewis & Bockius UK LLP, the team is knowledgeable of an array of regulatory and legislation affairs, both EU and UK-related. The group is co-headed by Simon Currie and William Yonge; the former is a specialist in the formation, management and operation of private investment funds, listed investment companies, managed accounts and separate account investment vehicles, while the latter an asset management sector specialist, often acting for US, Europe, Middle East and Asia-based managers on their establishment in the UK.

Practice head(s):

Simon Currie; William Yonge


‘The team are very responsive and have great knowledge and experience of financial services regulations in UK, as well as how it applies on a cross-border basis.’

‘Very responsive, commercial in nature and can clearly apply the law to our specific business model in a way that can be used in a practical way.’

Key clients

MSP Sports Capital

Digital Colony

Stone Harbor Investment Partners

Work highlights

  • Represented MSP Sports Capital in the £185m investment in McLaren Racing.
  • Represented Digital Colony, the digital investment management division of Colony Capital, in the sale of a minority stake to Wafra Inc.
  • Represented Stone Harbor Investment Partners in connection with Virtus Investment Partners’ acquisition of Stone Harbor as an affiliated manager.

Proskauer Rose LLP

The team at Proskauer Rose LLP caters to an array of private asset managers, including hedge funds, portfolio managers and private funds, on a broad range of regulatory affairs; examples include AIFMD-related advice, ESG affairs and fund formations, in addition to related private equity and M&A transactions. John Verwey heads the practice; former co-head Kirsten Lapham left the firm in January 2023.

Practice head(s):

John Verwey

Key clients

AnaCap Financial Partners Limited

Deerpath Capital Management LP

AP Moller


Copper Street Capital

EMK Capital

Pathway Capital LLC

Investcorp Securities Limited

Park Holidays / Intermediate Capital Group

Work highlights

  • Advised on the regulatory aspects of the sale of Park Holidays UK Ltd. to New York-listed Sun Communities.
  • Provided regulatory advice to Atomico on the formation and ongoing requirements arising from Atomico V which was oversubscribed.
  • Working on all regulatory and marketing aspects of bringing APMC’s next fund to market.

Ropes & Gray LLP

Ropes & Gray LLP has a mixture of regulatory, transactional and fund formation capabilities, representing a number of asset managers on their activities throughout the UK, US, Asia and Europe. Eve Ellis is especially well-versed in the ESG issues facing asset managers, while fellow practice co-head Anna Lawry is an expert in the regulation of derivatives, securities transactions and structured products.

Practice head(s):

Eve Ellis; Anna Lawry


‘The team deals with complex and sometimes novel financial services matters for significant clients. I have found them to be knowledgeable, and flexible and commercial in their approach. They look for realistic and workable solutions.’

‘I have enjoyed working closely with Eve Ellis over many years. She is highly knowledgeable. She is very prepared to discuss different aspects and analyses of an issue to reach realistic and workable solutions for her clients. I have also found Eve to be very approachable and pleasant.’

‘Eve Ellis at Ropes, in our opinion, is a truly exceptional regulatory lawyer. She is also extremely accessible, often responding to our requests 24/7 in order to meet our deadlines. Eve has a vast amount of experience and provides concise and highly effective advice. She is most definitely our number one go to for regulatory advice above all other counsel. Eve is a real pleasure to work with.’

Key clients


Western Asset Management

Schulte Roth & Zabel International LLP

Schulte Roth & Zabel International LLP enjoys a significant presence within the alternative investment management industry and also caters to a number of proprietary traders, broker-dealers, placement agents and electronic trading platforms. Practice head Anna Maleva-Otto leverages experience in the establishment and operation of FCA-regulated businesses, EU and UK market trading and the impact of EU directives and regulations.

Practice head(s):

Anna Maleva-Otto

Other key lawyers:

Josh Dambacher; Jim McNally; Polly O’Brien


‘Very hands on and responsive to queries and questions – understand the importance of the right answer in a timely manner.’

‘Very helpful and knowledgeable in their field of expertise.’

Work highlights

  • Advised a number of UK and global asset management groups on the implementation of the FCA Investment Firms Prudential Regime (IFPR).
  • Advised several UK and Swiss asset manager groups in connection with several investment fund and new manager launches focused on digital assets strategies.
  • Advised a number of UK and US asset managers on the viability of launching fund products promoted as having ESG features.


TLT’s practice is fronted by Noline Matemera, a specialist in the retail space who frequently supports on regulatory processes, conduct of business requirements and structures for retail banks and payment service providers. She is supported by Russell Kelsall, an expert in regulated mortgages and consumer credit. Robin Penfold is a favourite among clients who cite him as ‘widely respected within the sector‘.

Practice head(s):

Noline Matemera

Other key lawyers:

Russell Kelsall; Robin Penfold


‘Make an effort, show respect, deal with the work themselves.’

‘I regularly engage with a range of TLT personnel, who in all instances are professional, friendly and efficient and work collaboratively with me and the company I work for.’

‘My principal contact, Robin Penfold has previously worked within the mortgage industry and is able to use that experience when providing advice, giving a holistic view. He is also widely respected within the sector, working closely with a number of relevant trade bodies.’

‘Robin Penfold. Very personable and unfailingly clear, concise, and commercial in his advice. Always meets urgent deadlines.’

‘This practice’s people are its greatest asset/strength, everyone we have dealt with has of course been professional and knowledgeable but also engaging and willing to do what is required to deliver a good client outcome.’

‘My dealings with TLT have been on a number of projects working with partner Robin Penfold. Robin has always been extremely knowledgeable on the subject matters, been able to provide instant balanced views on any of our queries and will always go that extra mile to assist us when we have queries.’

‘Noline Matemera is very refreshing. She really gets under the brief – challenging/questioning/hypothesising. She also proactively offers our business sessions on evolving topics in order to assist our interpretation and understanding.’

Key clients

Starling Bank

Tideway Investment Partners LLP

Weil, Gotshal & Manges (London) LLP

Under the leadership of Marc Schubert, Weil, Gotshal & Manges (London) LLP serves a roster of fund and asset managers on their activities throughout the UK, Europe, North America and Australasia. The practice is thoroughly experienced in handling start-ups, spin-outs and other business establishments, while also acting on an array of Brexit, FCA authorisation, ESG, AIFMD and MiFID II, securities regulation and market abuse matters.

Practice head(s):

Marc Schubert

Key clients

Advent International

Bain Capital

Berkshire Partners

Brookfield Asset Management

Crow Holdings

Generation Investment Management

Genstar Capital

Altamont Capital

Lindsay Goldberg

Providence Equity

Work highlights

  • Advised Brookfield Asset Management on the regulatory and global securities law aspects on a range of its private funds in the private equity, infrastructure, real estate and credit spaces.
  • Advised Genstar Capital on the fundraising for its latest private equity fund.

Womble Bond Dickinson (UK) LLP

Womble Bond Dickinson (UK) LLP is a key port of call for financial institutions, high street banks, major insurers, corporates and public sector organisations. Jonny Williams counts product and lending issues and conduct of business affairs among his key strengths and is also adept in the regulatory considerations of acquisitions, disposals and corporate restructurings. The London practice is closely integrated with the firm’s national network, particularly the Edinburgh office.

Practice head(s):

Jonny Williams

Other key lawyers:

Emma Radmore


‘Knowledgeable team which understands timeliness and urgency when needed, exceptional and informative with a broad understanding of our industry.’

‘Timeliness, organised and prompt in their dealings.’

‘The team is very efficient and professional. Their engagement and quality of service are exceptional. They will propose the right strategy with realistic timelines for its delivery and assist in every step of the way until its successful execution.’

‘Emma Radmore is a very experienced solicitor who we have had the pleasure to work with.’

‘The firm have real expertise in retail and business banking legal and regulatory matters. Their co-sourcing approach is tremendous and they really do feel like an extension to our legal team.’

‘Jonny Williams: real in-depth banking law and regulatory expert and in-house in his DNA so he thinks like us as a banking client and understands our risk appetite and triggers. A joy to work with and his pragmatic legal advice coupled with impressive industry and regulatory insight is invaluable.’

Key clients

Arch Insurance (UK) Limited

Arch Reinsurance Limited

Work highlights

  • Advised Arch Reinsurance Limited in undertaking a due diligence exercise in relation to the proposed acquisition by it of the entire issued share capital of each of Somerset Bridge Group Limited and Southern Rock Holdings Limited.