Asset management – systems and controls
Acting for the CEO of one of the largest asset and fund management companies in the City in an investigation by the FCA into alleged systems and control failures following a fraud attempted on the company. The investigation was discontinued.
Foreign exchange – systems and controls failures
Acted for the CEOs of two multinational banks under investigation for alleged systemic failings in the G10 FX trading desks which contributed to large scale fraudulent activity by desk traders.
LIBOR– market manipulation
Acted for several individuals under investigation for manipulation of the LIBOR and EURIBOR benchmarks, advising them through internal inquiries, and through regulatory and criminal enforcement.
HBOS – regulatory implications of risky lending
Acted for the Chief Executive of the Corporate Division of HBOS in enforcement proceedings by the FCA relating to the collapse of the bank in 2008 and in a Parliamentary inquiry into banking standards.
Prudential – relations with regulators
Advised the Prudential and its global CEO in the enforcement action brought by the FCA for failing to keep it informed of the Prudential's planned takeover of AIA.
John Pottage/Matthew Brumsen (UBS) – reviewing business
Represented two individuals in enforcement by the FSA in relation to alleged failure to review business adequately on assuming their role following a fraud committed in its private wealth business.
HSBC – conduct of business failures
Represented the bank in alleged conduct of business rule failures in enforcement proceedings by the FSA, followed by a settlement and the construction of a customer remediation programme.
Advised a hedge fund and its money laundering reporting officer in relation to serious failings in its customer due diligence procedures and settling an FSA enforcement action.
RBS - corporate restructuring
Advised RBS and staff in regard to an internal investigation and an inquiry conducted by a skilled person under section 166 FSMA 2000 into an allegation of driving small businesses into insolvency.
Represented a senior member of the diplomatic service in proceedings for dealing on inside information as chairman of a company about to make a significant takeover.
More: Regulatory litigation
Corporate crime and directors' criminal liability
Represented the Barclays Libor submitter in investigations by the US Department of Justice and prosecution by the SFO in relation to allegations that his Libor submissions were dishonest.
Mabey & Johnson – international corruption in building contracts
Advised directors as to their obligations to the SFO, the UKLA and the National Crime Agency during the SFO's investigation into corruption for contracts for bridge building in Western Africa.
Petrochemicals – international corruption in the oil industry
Advised the director of a Middle Eastern petrochemical infrastructure company under investigation by the SFO into alleged corruption to secure contracts for supply of oil pipelines.
BAe – international corruption in military hardware
Advised the auditors of BAe in an investigation by the SFO into allegations of corruption to secure contracts to supply the Eurofighter to various Middle Eastern states.
Advised on and conducting corporate investigations, including conducting an investigation into corruption in the Chinese subsidiary of a UK manufacturing company and participating in investigations conducted by US firms.
Virgin Airways – price fixing
Advised the commercial director of Virgin in an internal investigation by UK and overseas prosecuting agencies in relation to price fixing on the London to New York and London to Hong Kong/Sydney routes.
Tesco – alleged false accounting
Advised a senior Tesco executive following allegations of manipulation of company accounts to make a misleading profit statement.
Represented a former partner in Cazenove on his prosecution by the FSA for offences of insider dealing, including proceedings for confiscation for the benefits of crime.
Advised a substantial US law firm based in London in relation to alleged tax evasion schemes devised by one of its partners including its obligations to make reports under the proceeds of crime legislation.
More: Corporate crime and directors' criminal liability
Drafted and audited anti-bribery and corruption policies and procedures to found an "adequate procedures" defence under section 7 of the Bribery Act 2010.
Drafted and audited anti-money laundering policies and procedures to ensure compliance with the Money Laundering Regulations 2007, including establishing client due diligence processes and providing training to clients.
Advised a bank in relation to FCA concerns that it Common Reporting (COREP) obligations under the Article 99 of the EU's Capital Requirements Directive and Regulations had not been complied with.
Advised a building society and a major international financial institution in drafting schemes of redress for investors following PPI mis-selling.
Regulatory rule drafting
Drafted the rules of a financial services regulator in relation to its authorisation and enforcement processes.
Managed difficult authorisation applications for institutions and companies, most recently in relation to individuals who have been implicated in some of the behaviour surrounding the LIBOR and FX scandals.
Senior Managers Regime
Advised and providing training on the scope of the senior managers' regime established by the Banking Reform Act 2013, including the review of proposed arrangements for the appointment of senior managers.
Advised in relation to the applications of the sanctions legislation to certain types of transaction, and change of control issues where a sanctioned entity has a majority in holding another entity.
Conduct of business
Advised a global retail bank in relation to its role as a depositary of funds under investment and the creation of a compensations scheme following a collapse in the value of the investments.
Advised in transactions to ensure that regulatory issues relating to conflicts of interest, market abuse and confidentiality are properly managed.
More: Regulatory compliance
Professional standards and discipline
Advised individuals on authorisation applications to regulators, with specific reference to ethical issues, standards of competency and fitness to practise.
Advised and representing financial and professional service providers in investigations and proceedings brought by the FCA and follow on proceedings brought by professional associations.
Royal Institution of Chartered Surveyors
Appointment as a legal assessor to the Disciplinary and Appeals Panels of the Royal Institution of Chartered Surveyors and enforcing the ethical and professional code of the institution under its Royal Charter.
Institute of Chartered Accountants in England and Wales
Advised individual accountants and firms on their obligations under professional rules and representing them in proceedings in the investigation and disciplinary committees of the ICAEW.
Financial Reporting Council
Advised in relation to public interest cases and investigations brought by the FRC and its predecessor, the Joint Disciplinary Scheme.
Advised a large state grammar school on issues relating to teachers' standards and competence, including the management of competency, remediation frameworks, and chairing disciplinary hearings.
Advised a substantial US law firm based in London of its obligations to its UK regulators following its discovery that tax schemes devised by one of its partners might amount to tax evasion.
Acted as advocate for the Insolvency Practitioners Association in disciplinary proceedings brought against its members.
Drafted the disciplinary and enforcement rules of several regulatory agencies.
More: Professional standards and discipline
Banking and financial services regulation
Advised a private bank and successfully managing its dialogue with the FSA following a Court of Appeal decision which rendered all of its consumer credit contracts unenforceable, thus threatening the capital position of the bank.
Advised a bank in relation to its capital reporting (COREP) obligations under the EU's Capital Requirements Directive and Regulations 2006.
Conduct of business
Represented a global retail bank under investigation by the FSA following a crash in the value of investments over which it was depositary, negotiating a conclusion to the investigation and devising a remediation programme.
Relations with financial regulators
Advised the Prudential and its global CEO in relation to an investigation into whether the FSA had been kept fully informed by the Prudential about its planned takeover of AIA.
Advised a mortgages administrator in an FSA investigation into alleged impropriety in the collection of overdue mortgage repayments, including devising a remediation programme for borrowers who had been disadvantaged.
Systems and controls
Examined systems and controls issues and senior management responsibilities in the context of their alleged failure to identify and prevent fraudulent activity on the FX trading desks of a number of multinational banks.
Senior manager responsibilities
Advised generally in relation to the onerous responsibilities now placed on bankers following the banking collapse, and in specific instances the extent of the obligations, including the role of in-house lawyers.
Drafted policies and procedures required under regulatory rules in relation to money laundering, bribery and corruption, fraud, sanctions, personal account dealing and the management of risk.
Regulatory enforcement against banks
Advised a number of retail banks under enforcement by the FCA, usually for systems and control failures.
Regulatory enforcement against individuals
Included the CEO of HBOS in his investigation by the FSA for failing to conduct his regulatory obligations with due skill.
More: Banking and financial services regulation