Financial Services

Three Raymond Buildings is a leading set for advice and representation in financial services crime and regulation.

Members of Chambers provide advice to regulated persons, to other City professionals and to the Financial Conduct Authority at all stages and across a wide range of topics. Recent examples include advice for approved persons on the scope of their notification requirements, advice on the reporting obligations of authorised firms, advice for Money Laundering Reporting Officers on SARs and strategic advice to a global bank on AML and control system issues.

Our reputation in the field of financial crime means that we have been instructed on some of the leading cases involving the FCA and its predecessors, both for the Authority itself and for individuals/corporates who are the subject of investigation or enforcement action, across the range of FSMA and Financial Services Act offences, in respect of matters such as the alleged LIBOR, EURIBOR and FOREX irregularities and in many of the FCA’s most contentious insider dealing cases.

Members of Chambers have the benefit of longstanding experience in financial regulatory proceedings involving the FCA and its predecessors and before similar bodies, including the Financial Reporting Council and Pensions Regulator. We appear before the Regulatory Decisions Committee instructed by entities, individuals and the FCA. Examples of our recent experience include acting for the FCA in the RDC in relation to LIBOR, challenging a Supervisory Notice under the Payment Service and the Electronic Money Regulations, and acting for a non-regulated person facing allegations of market manipulation. We also have experience of advising in respect of the making of complaints against the FCA to the Financial Regulators Complaints Commissioner.

Junior members of Chambers have undertaken secondments within various teams in the Enforcement and Market Oversight division.