Financial Services | UK Bar

3 Verulam Buildings maintains a dominant position in the market, with clients describing the team as a “market leader on group claims involving financial services” with “real specialism and a deep breadth of quality.” Members of the chambers are keenly sought after for sophisticated high-stakes regulatory concerns, and act for a prestigious client base including major banks, brokerages and private equity firms, as well as the regulatory bodies themselves. Recently, members of the set were instructed in Legal & General v Glencore, a substantial securities claim concerning serious misstatements and omissions.

Blackstone Chambers wins praise as “the go-to set for high-profile and complex investigations." Its formidable offering rests on the recognised regulatory expertise of its barristers, of whom several are considered counsel of choice for regulatory bodies both in the UK and internationally. Clients describe the team as having an “unparalleled technical expertise and commercial nous” and say that members of the set have an “in-depth knowledge of the practice area and provide quality advocacy.” Its members are also frequently instructed by major financial institutions on diverse and often highly significant mandates. Over the past 12 months, members of the chambers have appeared in FCA v BlueCrest Capital Management, the judgment of the Court of Appeal concerning a landmark case addressing the scope of the Upper Tribunal’s jurisdiction in financial services cases and the power of the FCA to impose redress requirements on individual firms.

Fountain Court Chambers enjoys an established reputation as a powerhouse for financial services litigation. Members of the set are widely lauded for their capabilities across such diverse concerns as investigations, enforcement proceedings, challenges to sanctions and civil actions, and routinely act for both regulators and some of the most prominent regulated firms. A source notes the set is “second to none, is always the first point of call and has an amazing tendency to produce first-class barristers and advice.” Members recently acted for Lloyds Banking Group in connection with a proposed judicial review of decisions on applicable time limits made by the Financial Ombudsman Service.

4 Stone Buildings attracts high praise from market sources, who describe the set as having “consistently good-quality members." Barristers of the set are sought out for both contentious and purely advisory work by major financial institutions as well as associated individuals. They offer extensive experience representing clients in regulatory investigations and high-profile litigation, as well as appearing before disciplinary tribunals. The set is also noted for its complementary strengths in the arenas of commercial chancery and banking litigation. Members of the set were instructed in BlueCrest Management v Financial Conduct Authority, a high-profile matter concerning the FCA's powers to impose financial penalties.

Ben Lashmar and Ryan Tunkel are the senior clerks.

4 Pump Court is a well-respected set whose members offer a range of expertise in regulatory matters. This expertise is frequently called upon by the FCA in significant enforcement actions, as well as by financial institutions on regulatory challenges and civil proceedings, both in the UK and offshore. A source notes the set “provides careful, balanced advice combined with pragmatic steps, providing the client with clarity and certainty.” Recently, members appeared in FCA v John Dance, a civil regulatory proceeding involving the alleged divestment of more than £40 million points against an approved person.

Carl Wall and Stewart Gibbs are the senior clerks.

Brick Court Chambers is widely recognised for its strength in the financial services space. The set has the capacity to take on the full range of banking law matters and enjoys a strong reputation for its handling of regulatory and enforcement actions. Commentators report that the barristers at the set have “excellent attention to detail” and “strategically think ahead.” Notable recent work includes acting for London Metal Exchange, in a judicial review concerning the market suspension and cancellation of nickel trades on the world's largest non-ferrous metals market.

Paul Dennison and Tony Burgess are the senior clerks.