5 St Andrew's Hill

David Stern

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Practice Areas

Business crime and serious fraud with an emphasis on financial services, insurance, international commerce, internal corporate investigations, private prosecution and defence.


Joint Head of the Business Crime & Financial Regulation Practice Group. Acted as leading junior and junior counsel in many cases brought by the Serious Fraud Office, HMRC and the FCA and those with international agency involvement. Substantial experience in private prosecutions, with additional expertise as special counsel to EMM Legal.

Successfully acted as leading junior and junior counsel in two SFO prosecutions for alleged manipulation of LIBOR benchmarks. Currently acting for several parties involved in allegations arising out of CumEx trading, as well as the SFO investigation into an international steel manufacturer.

Particular expertise in advisory work arising out of financial transactions, tax and compliance. Instructed to represent corporations and individuals in FCA regulatory investigations. An accredited mediator, handling commercial disputes involving financial services and high-value insurance claims. Expert witness on Lloyd’s of London and FSMA 2000, acting as settlement counsel for policyholders in numerous substantial London Market insurance claims, including World Trade Center and a regular speaker at American Bar Association events.

Professional Memberships

Fraud Lawyers Association and Lincoln’s Inn (1989).


Butterworths Journal of International Banking and Financial Law. May 2020 Edition: 'The Cum-Ex Trading Scandal: What are the implications for the UK?'