Norton Rose Fulbright is active in all key areas of the contentious regulatory process, including financial crime, lending practices and governance, systems, and controls. The team is spearheaded by ‘doyen of the FS regulatory arena’ Katie Stephen, who draws on decades of experience advising on litigation and investigations across multiple regulators, with particular expertise in tax-related disputes, skilled person reviews, internal investigations, and enforcement matters involving senior management and complex regulatory issues such as market abuse, ESG, and consumer credit. Alongside her, David Harris co-heads the team, focusing on transnational investigations and enforcement, while advising financial institutions, corporates, and senior executives on civil, criminal, and regulatory proceedings across the UK and US, with particular expertise in financial crime, sanctions, and cybersecurity-related matters. Another key name to note is Matthew Gregory.
Legal 500 Editorial commentary
Testimonials
Collated independently by Legal 500 research team.
'Katie Stephen is a doyen of the FS regulatory arena, with a well-deserved reputation for excellence. She knows the regulatory landscape as well as anyone, and strikes fear into opponents, including regulators. A top choice for any tough regulatory fight.'
'Emily Smith is fantastic! I’d like her working on every one of my cases: highly intelligent, massively hard-working, and savvy beyond her years. A superstar in the making.'
'Lizzie Cox is immensely able, and a first-rate associate.’
‘NRF's contentious financial services practice combines experienced and dynamic litigation lawyers with partners who have expertise and extensive experience in the regulatory aspects of financial services. ’
‘Katie Stephen is a fantastic financial services lawyer, a steady hand and a trusted advisor to clients.'
'Aditya Badami is a senior associate and surely on track for partnership very soon. He has great natural instincts for litigation strategy and complete command of what is required to make a success of the day-to-day running of a heavy commercial case.’
Key clients
- HSBC
- Amigo Loans
Work highlights
Acted for HSBC in successfully defending two related complex group action fraud claims seeking damages of around £1.7 billion, including claims under FSMA relation to FCA Handbook breaches, which were tried over 9 weeks commencing 29 January 2024.
Acted as the independent adjudicator for Amigo Loans on an adjudication of customer claims as part of a Scheme of Arrangement approved by the client’s creditors and the court, following the FCA’s investigation and public censure of the client for failing to conduct adequate affordability checks on borrowers and guarantors before approving guarantor loans.
Lawyers
Hall of Fame
The lawyers at the very top of the profession, widely known and respected by peers and clients for their longstanding involvement in market-leading work.
Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Leading associates
Leading associates with regular involvement in their team's key work, and recognition from peers or clients as being ones to watch.
Claudia Van Gruisen
Practice head
Katie Stephen; David Harris
Other key lawyers
Matthew Gregory; Emily Smith; Lizzie Cox; Aditya Badami; Claudia Van Gruisen