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Simmons & Simmons

CITYPOINT, ONE ROPEMAKER STREET, LONDON, EC2Y 9SS, ENGLAND
Tel:
Work +44 20 7628 2020
Fax:
Fax +44 20 7628 2070
DX:
12 LONDON CHANCERY
Email:
Web:
www.simmons-simmons.com

Richard Sims

Tel:
Work 020 7825 3924
Email:
Simmons & Simmons

Work Department

Dispute resolution.

Position

Richard is a partner in the finance litigation department and is a member of the firm’s crime, fraud & investigation group. He specialises in contentious financial services work, both domestic and international. He has extensive experience of regulatory investigations, enforcement and disputes, in particular those involving the FSA.

Career

Trained leading international law firm, qualified into litigation department 2000; enforcement division Financial Services Authority (particular focus on market abuse, insider dealing and wholesale firms’ systems and controls; led the investigation which resulted in the FSA’s first prosecution for insider dealing and was a prosecution witness at the trial) for three years; Simmons & Simmons 2008.


London: Corporate and commercial

Financial services

Within: Financial services

Praised for its 'very collaborative and proactive approach',¬†Simmons & Simmons displays 'great market knowledge' on behalf of both sell and buy-side participants and therefore has an excellent perspective of the market. The firm has been highly active on behalf of its hedge fund manager and asset manager client base on issues arising from MiFID ii implementation and Brexit. The team also stands out for its ability and willingness to innovate and this has been exemplified by the firm's MiFID ii Manager product, which socialises the costs and experience of MiFID ii implementation across the firm's client base. The 'superb' Charlotte Stalin was integral to establishing the product and has an excellent reputation on behalf of investment banks and global asset managers.¬†Penny Miller 'is excellent at explaining even the most cerebral and dry areas of law'. One of the City's leading experts on product governance and intervention, Miller has developed an excellent reputation in relation to Packaged Retail and Insurance-based Investment Products Regulation (PRIIPs) as well as in relation to advising on Senior Manager‚Äôs Regime implementation and risk management. Jonathan Melrose has ‚Äėgreat market knowledge‚Äô of commodities/derivatives matters and is a key member of the team that also includes 'superb' hedge fund expert Darren Fox and¬†Rosali Pretorius.¬†On the contentious front, ‚Äėthe very approachable and bright'¬†Richard Sims leverages off his former in-house expertise at the regulator to provide a 'high-quality service' to clients facing scrutiny from the FCA.¬†Emma Sutcliffe is also recommended.

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London: Risk advisory

Regulatory investigations and corporate crime

Within: Regulatory investigations and corporate crime

Simmons & Simmons¬†¬†advises on corruption, fraud, money laundering, sanctions, mutual legal assistance and criminal tax investigations. It is also adept at handling the criminal side of investigations, advising clients on search and seizures, interviews, internal corporate investigations and cross-border criminal matters. Another area of expertise is contentious regulatory investigations including misconduct, systems and controls breaches and individual accountability. It has particular experience of dealing with investigations by the FCA and SFO. The firm‚Äôs key client sector is financial services including including retail and wholesale banks, asset managers, brokers and other major financial institutions. Nick Benwell¬†and Stephen Gentle, who ‚Äėbrings a calm reassurance to problem areas‚Äô head the team. Tim Boyce, Richard Sims¬†and Emma Sutcliffe¬†are also recommended.

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Legal Developments by:
Simmons & Simmons

  • Failure to counter financial crime: Norwich Union Life

    In December 2007, the Financial Services Authority (FSA) imposed a fine of £1.26m on Norwich Union Life (part of the Aviva Group), one of the largest life insurance businesses in the UK with around seven million customers. The fine related to failures to take reasonable care to establish and maintain effective systems and controls for countering the risks of financial crime. The fine is the latest confirmation of the emphasis being placed on protecting clients and customers from the threat of financial crime.
    - Simmons & Simmons

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