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Richard Hitchcock

Practice summary

Richard has broad experience of acting as adviser and advocate in the commercial sphere. In recent years his practice has become principally focussed in four complimentary areas: Financial Services; Occupational Pension Schemes; Civil Fraud and Financial Professional Negligence. In addition, he has developed and maintains niche practices in commercial law, construing commercial contracts and within employment law specialisting in advice and advocacy on TUPE issues, with current cases involving the construction of the chance of service provisions and the legal test for establishing a break in the link between a TUPE transfer and subsequent changes of terms and conditions.

Financial Services

Wide experience in all aspects of the current regime for carrying out investment business, acting both for the FSA and for regulated firms and individuals.

Recent and current cases have raised the following issues: broad ranging compliance issues (instructed by both solicitors and in-house counsel); statutory construction (FSMA 2000 and European legislation); investment (mis-selling, breach and scope of duties); unauthorised business / perimeter issues; applicability of conduct of business rules; collective investment schemes; availability of remedies under the Financial Services Compensation Scheme; MiFID II and the European Market Infrastructure Regulations.

He appears as an advocate in the Financial Services and Markets Tribunal (historically); the Upper Tribunal and the High and Appellate Courts, including judicial review applications arising out of the mismangement of funds.

Occupational Pension Schemes

Expertise in all areas of the law relating to occupational pension schemes, acting for employers, trustees, members, trade unions and third parties to the trust (principally actuaries, auditors, accountants, brokers, scheme consultants and solicitors).

Issues raised in current cases include: investment management and breach of duties in relation to invesments; scope of actuares' and auditors duties; construction of documents and in particular trust powers (in particular, amendment powers); equalisation and the scope of the powers of the Pensions Regulator.

He has exceptional experience of Regulator cases involving U.S., targets, and in negotiating and litigation UK pensions issues against a backdrop of US debt restructuring / Chapter 11 proceedings having been involved  in the Sea Containers, Nortel, Visteon and Lehman Brothers matters.

As well as his advisory pratice, he is frequently instructed as an advocate before: the Determinations Panel of the Pensions Regulator; the Pensions Ombudsman; the Upper Tribunal; the High Court, the Court of Appeal, the Supreme Court and the European Court of Justice. He has acted as both arbitrator in pensions cases and as an expert witness in claims in the United States of America and Grand Cayman. 

Civil Fraud

Extensive experience as both adviser and advocate in this area, with current and recent cases raising issues of: conflict of duty / client conflict; asset recovery; asset tracing; restitution; breach of fiduciary duty; misuse of confidential information and intellectual property; search and seizure of evidence; domestic and international freezing and disclosure orders. He has experience working together with multi-disciplinary expert input on issues such as forensic accountancy and foreign law.

In addition to providing advice in these areas he regularly appears as an advocate in the High and Appellate Courts.

Financial Professional Negligence

Wide experience as adviser and advocate in cases relating to actuaries, accountants, auditors, benefit consultants, financial services professionals insurance brokers and solicitors.

He has particular experience of claims in the regulatory context, whether pensions, financial services or banking and claims for allegedly negligent tax and business advice.

Current cases raise issues including: scope of duty; extent of implied terms in retainer; relevance of professional guidance to contents of duty of care; date of knowledge; construction of contractual terms and loss of chance.

Richard also has wide experience of representing clients in mediations and other forms of ADR. He is available to accept instructions directly from professionals and lay clients.

• London:
• The Outer Temple, 222 Strand, London WC2R 1BA, T: +44 20 7353 6381, F: +44 20 7583 1786, DX: LDE 351
• New York:
• One Battery Park Plaza, 10th Floor, New York, NY 10004, T: +1 212 837 6600
• Abu Dhabi:
• 401 Dar Al Shifa Pharmacy Building, Sheikh Zayed 1st Street, PO Box 3470, Abu Dhabi, UAE, T: + 971 2 406 9711

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