Banking, Financial Services & FinTech
We have a strong team of barristers with specialist expertise in all aspects of financial services law and banking litigation.
Our reputation as one of the leading sets in financial markets and products work continues to grow, with experience of a range of disputes including those involving transactions across a range of exchanges as well as disputes concerning syndicated and other loan agreements, IRHP / swaps mis-selling, disputes concerning close-out amounts under derivative contracts, FOREX and LIBOR manipulation, guarantees, mortgages, performance bonds, letters of credit, bills of exchange, credit default swaps, total return swaps, freight forwarding agreements and junk bonds. Barristers of all seniorities within chambers are regularly instructed to advise and appear on matters relating to retail, commercial and investment banking functions.
We have a wealth of experience in domestic and international regulatory actions and related matters. Instructions come from the regulators and the regulated. Experience extends to both those in the regulated sector and those on its perimeter.
Our barristers have experience across the spectrum. In the regulated sector we regularly advise on authorisation, compliance and product structure and barristers are routinely instructed in conduct and fitness claims for and against corporates and individuals based in the UK and overseas. There is substantial experience of cross-border issues and jurisdictional issues and the overlay of EU legislation on domestic legislation. Members of chambers have familiarity with issues such as passporting under the Insurance Mediation Directive (“IMD”), compliance with the Markets in Financial Instruments Directive (“MiFID”) as well as issues arising under the Payment Services Regulations.
In perimeter work barristers are regularly instructed in respect of investment schemes and similar products. As well as receiving instructions from the FCA, the FOS, the FSCS and other regulators in respect of preventing unlawful activities, seeking recoveries and advising on compensatory matters, we have substantial experience in advising and acting for investment schemes and those offering related introductory and ancillary services. Advocacy experience extends from the urgent injunctive applications that accompany such work through to work in the RDC, the Upper Tribunal and the senior courts including appellate work in the Court of Appeal and the Supreme Court.
Chambers’ expertise in both financial services law and technology disputes means that we are ideally placed to advise on FinTech matters.
Our IT group is top-ranked in the leading directories. We have a wealth of experience in technology, e-commerce and telecommunications law. Our clients include suppliers and purchasers of IT systems, global telecoms providers, equipment manufacturers and their customers in the private and public sectors. We are regularly instructed by international and domestic solicitors, as well as directly by client organisations, in relation to disputes arising out of project failures and delays, defective hardware and software, IP licences and other contractual matters. Our barristers have also applied their technical expertise to blockchain technologies and frequently lecture on this topic.
Our banking and financial services barristers are regularly instructed by the FCA, the FOS and the FSCS in respect of the regulatory perimeter. In addition, members of chambers act for those offering investment schemes and related services. This experience is invaluable when analysing the existing regulatory framework and advising on its application to cryptocurrencies and ICOs.
Members of chambers are being instructed in an increasing number of FinTech matters. Recent cases include:
- Advising on the legal and regulatory risks of an ICO launch
- Advising on the sale of cryptocurrencies
- Acting for a digital currency exchange in relation to a claim for the return of stolen cryptocurrencies from a digital wallet
- Acting for a currency trading platform provider in relation to alleged flaws in an instrument pricing algorithm