Contact details

Sean Jeffrey

T: +44 20 7809 2034 M:+44 7584 235 262 Email Sean | vCard Office: London

Awards

Financial services: Contentious

Financial services: Contentious

Fraud - white collar crime

Fraud - white collar crime

Sean Jeffrey Partner

Contact details

Sean Jeffrey

Sean Jeffrey
Partner

T: +44 20 7809 2034 M: +44 7584 235 262 Email Sean | vCard Office: London

Sean is a commercial litigation partner specialising in contentious regulatory matters, advising financial institutions and senior executives in connection with all aspects of complex investigations including related litigation and insurance matters.
  • Profile
  • Services
  • Sectors

Sean's recent work includes advising a prominent financial institution and an international intermediary on FCA enforcement proceedings and supervisory visits. He has advised a major lender in relation to regulatory, litigation and insurance issues arising from significant accounting irregularities.

Sean has broad experience of financial services redress exercises in a range of legal and regulatory contexts. He has advised a leading international financial services business regarding issues with the sale of retail products to approximately two million customers, including using an innovative Scheme.

He has extensive experience of advising regulated firms on remedies concerning decisions of authorities and public bodies, including the FCA, PRA, FOS and SFO.

Sean has represented a number of international banks in relation to sanctions issues, including in judicial review proceedings against HM Government and in cases in the General Court and the Court of Justice.

Sean acted for Vincent Tchenguiz, Robert Tchenguiz and the associated trusts in various litigation and regulatory matters connected with the SFO's 2011 dawn raids, which were successfully challenged in judicial review proceedings. He has assisted directors of financial and other institutions with the consequences of major regulatory and litigation crises.

He has particular expertise regarding legal professional privilege and has litigated privilege issues in the Court of Appeal and House of Lords. He worked on the Bank of England litigation defending the claim for misfeasance in public office arising out of the supervision of the Bank of Credit and Commerce International (BCCI).

Sean led the team which won the Legal Week/British Legal Awards litigation and regulatory team of the year for a ground-breaking challenge to a major investigatory and prosecuting authority. Legal 500 describes Sean as "technically strong". Chambers UK describe him as "very knowledgeable, easy to work with…works hard, thinking laterally to achieve the best result for his clients" and "very pragmatic, very intelligent, and an experienced litigator".

"Practice head Sean Jeffrey has a successful record in high-stakes investigations relating to financial crime, sanctions, and has represented global corporates and financial institutions before UK and EU authorities."

The Legal 500 UK 2023
  • Regulatory litigation
  • Finance litigation
  • Corporate crime and directors' criminal liability
  • Regulatory compliance
  • Banking and financial services regulation
  • Sanctions
  • Greenwashing risk

Benchmark manipulation

Advising in relation to a multi-jurisdictional investigation into an international bank concerning FX and related issues.

Retail products

Advising an international financial institution under investigation further to allegations of misselling across multiple jurisdictions.

Market misconduct

Advising an international bank in relation to a regulatory investigation concerning alleged misconduct regarding securities.

Systems and controls

Advising an international financial institution being investigated for alleged SYSC failings regarding product design, implementation and monitoring.

Client money

Advising a financial institution in a regulatory investigation concerning FCA client money rule breaches and connected SYSC matters.

Third party payments

Advising an international financial institution under investigation in multiple jurisdictions for third party payment issues, including related SYSC matters.

Mortgages

Advising a lender in a regulatory investigation concerning FCA rule breaches (advised transactions) and the allocation of responsibility between the lender and the intermediary.

Pension transfer

Advising a financial institution in relation to a regulatory investigation concerning pension transfer advice allegations and connected redress matters.

Abuse of power/misfeasance in public office

Advising an international financial institution seeking to challenge a regulator for abuse of its legal powers.

SFO

Advising corporate and individual clients in relation to one of the largest ever multi-jurisdictional SFO investigations and one of the most notable successful legal challenges to the abuse by a public authority of investigatory powers.

More: Regulatory litigation

Cross-indemnities

Advising a bank in dispute with a range of counterparties regarding liabilities arising from retail misselling redress exercises further to regulatory investigations.

Fund raising

Advising an international conglomerate in relation to a dispute with an investment bank concerning a failed fund raising.

Sanctions

Advising an international bank concerning a dispute with another bank regarding the effect of financial sanctions on particular transactions and the availability of funds.

Swaps

Advising in relation to a dispute concerning representations about swaps in the context of complex financing arrangements.

Government financing arrangements to support markets

Advising a government department in relation to a dispute concerning complex funding arrangements required because of exceptional market conditions.

Enforcement rights

Advising in relation to a bank's rights (including to demand repayment and/or effect an assignment) in light of the unforeseen financial circumstances of a corporate borrower.

Regulated activity

Advising a financial institution in proceedings with the regulator about whether regulated activity was taking place in a part of the trading business.

Misfeasance in public office

Member of the team defending the Bank of England against the claim for misfeasance in public office in relation to the supervision of the Bank of Credit and Commerce International (BCCI) between 1972 and 1991.

More: Finance litigation

Corporate investigations

Advising an international financial services institution in relation to third party payment issues in multiple jurisdictions.

SFO

Advising in relation to an investigation concerning the complex lending and borrowing arrangements of an insolvent international bank.

Accounting irregularities

Advising an international group of companies concerning the consequences for the entities and the boards of accounting irregularities.

Money laundering

Advising an international financial institution in the context of a police investigation into various substantial deposits and transfers.

Governance

Advising an international group of companies in relation to whistle-blowers allegations of board level and other senior executive wrongdoing.

Directors' liabilities

Advising the board of a financial institution of their rights and obligations during a complex regulatory and SFO investigation lasting several years, during the course of which the business was involved in multiple restructuring and refinancing, including advice on D&O insurance claims and renewals.

Long arm jurisdiction

Advising an international organisation regarding potential criminal liability in the UK linked to activities in a range of other jurisdictions.

VAT fraud

Advising an FCA regulated entity and its board in relation to counterparty issues and a "missing trader" VAT fraud.

More: Corporate crime and directors' criminal liability

Remediation and redress

Advising an international financial institution on various issues raised by FCA supervision regarding a retail product and a related informal redress exercise involving very significant numbers of customers and counterparty issues, including advice about further developing relevant systems, controls and monitoring.

Transaction issues

Advising a financial institution in relation to various acquisitions, in particular inherited regulatory issues and related due diligence.

New business units

Advising a financial institution in relation to the design of products for a new business unit and connected compliance issues including monitoring, training and dashboards.

Bribery Act 2010

Advising a financial institution in relation to anti-bribery corruption policies and procedures, including advice on the "adequate procedures" defence.

Fundraising

Advising on the regulatory issues for directors arising from a substantial fundraising.

Senior Managers' Regime

Advising a financial institution on the scope of the senior managers' regime further to the Banking Reform Act 2013, including the review of proposed arrangements for the appointment of senior managers.

Conduct of Business Rules

Advising an international financial institution on enhancements to COB compliance further to a significant acquisition.

Supervisory/regulatory visits

Advising in relation to preparation for formal visits by the FSA/FCA.

More: Regulatory compliance

Internal investigation

Advising an international bank in relation to a complex multi-jurisdictional internal investigation regarding financial reporting, in the context of inevitable regulatory investigations and associated litigation.

Self-reporting to regulators

Advising an international bank on regulatory obligations and related strategic issues regarding benchmark manipulation risk and in particular the relevance for systems and controls (SYSC).

Mortgages

Advising a lender on its regulatory obligations, in particular in relation to those of an introducing broker.

Regulatory enforcement

Advising an international bank in relation to alleged misselling of retail products.

Governance

Advising an international financial institution in relation to regulatory challenges concerning governance and section 166 work, including working with the audit committee and chief executive of the FCA regulated entity.

Systems and controls

Advising an international financial institution in relation to monitoring and reporting regarding retail products.

Authorisations

Advising in relation to preparations for obtaining a banking licence.

Senior executive remuneration

Advising an international bank regarding the regulatory aspects of a decision to withhold senior management remuneration pending the outcomes of regulatory investigations.

More: Banking and financial services regulation

Judicial review proceedings

Advising a UK bank in proceedings against HM Government concerning the imposition and failure to amend or withdraw financial sanctions.

General Court/European Court of Justice

Advising an EU bank in proceedings against the General Council regarding wrongly imposed and maintained financial sanctions.

Counterparty dispute

Advising a sanctioned EU bank in a dispute with multiple counterparties concerning wrongly withheld assets.

Relations with financial regulators

Advising a UK bank in a dispute with its regulators (including FCA, Bank of England, PRA and HM Treasury) about the justification and effects of financial sanctions.

More: Sanctions
Dealing with contentious regulatory matters, investigations, and enquiries and information requests from regulators and other authorities.
  • Accountancy firms
  • Insurance
  • Insurance brokers

Regulatory investigations

Advising in connection with all stages of regulatory enquiries and investigations involving accountancy firms.

Public law challenges

Advising accountancy firms on judicial review options in regulatory and investigatory contexts.

FCA

Advising accountancy clients on their interests in the context of FCA investigations.

Skilled Persons

Advising on accountancy firms' liability and regulatory exposure in the context of Skilled Person (section 166) commissions and work overseen by FCA Supervision.

FCA regulated activity

Advising accountancy firms on all aspects of regulated activity and resolving issues with FCA Supervision.

SFO

Advising in relation to SFO matters involving accountancy firms. Sean has extensive experience of litigation involving public, regulatory and investigatory authorities.

HMRC

Advising on investigations and disclosure obligations in particular regarding Legal Professional Privilege.

Sanctions

Advising accountancy firms on sanctions relating to a range of jurisdictions and imposed by various authorities. Sean's experience includes litigating sanctions cases in this jurisdiction as well as in the EU.

Auditors

Advising in relation to accountants' liability and regulatory exposure in the context of substantial auditor negligence matters.

PI insurance

Advising accountancy firms on their insurance position in situations involving regulatory investigations and actual or contemplated litigation.

More: Accountancy firms

Sean specialises in financial institutions contentious and regulatory work, including insurance and reinsurance matters.

Sean has broad experience of the principal types of insurance, including property/business interruption, general liability, errors and omissions, professional indemnity, directors and officers (D&O), prospectus (POSI), payment protection, card protection and life insurance. He also has experience of contingency/event insurance.

He has advised on a range of contentious and transactional insurance and reinsurance matters, including treaty and facultative business.

Reinsurance recoveries

Advising a pool on a dispute involving substantial recoveries from overseas reinsurers.

POSI

Advising various companies on prospectus insurance, including in IPOs.

D&O

Advising carriers, companies and individuals in relation to coverage issues.

Regulatory investigations and supervisory visits

Advising insurers in regulatory investigations or preparing for supervisory visits.

FCA enforcement

Representing insurance clients in enforcement investigations.

More: Insurance

Sean has broad experience of advising insurance and reinsurance intermediaries in contentious, non-contentious and regulatory matters.

Placing liability

Advising in relation to placing issues within a large and complex reinsurance programme.

Third party payments

Advising in relation to liabilities and litigation concerning third party payments in multiple jurisdictions further to regulatory investigations.

Supervisory/regulatory visits

Advising in relation to preparation for formal visits by the FSA/FCA.

FCA Enforcement

Advising in relation to an Enforcement investigation concerning a range of alleged breaches of Rules and Principles.

Self-reporting to regulators

In the aftermath of a multi-jurisdictional internal investigation, advising an international broker on regulatory obligations and related strategic issues.

More: Insurance brokers

Awards

Financial services: Contentious

Financial services: Contentious

Fraud - white collar crime

Fraud - white collar crime

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From Insights

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From Insights

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26 Jun 2023

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From Insights

First speech by new FCA Head of Enforcement – key takeaways

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