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Simon Oakes

Simon Oakes

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Simon Oakes practises in commercial law, with a particular focus on banking & financial services matters. He has been involved in major financial services cases in recent years, including the LIBOR test case of Graiseley Properties Ltd v Barclays Bank Plc in the Court of Appeal, and Hockin v Royal Bank of Scotland in the High Court. He has particular experience of LIBOR, and various banks’ Global Restructuring Groups and Business Support Units.

Having been seconded to both the Financial Services Authority and the Pensions Regulator, Simon has acted for individuals in complex regulatory cases, including those brought by international banking regulators.

Financial Services

Simon’s financial services and banking work ranges from major interest rate hedging product litigation to regulatory investigations against individuals. He has particular expertise in the mis-selling of LIBOR-linked financial products, and various banks’ business support units.

His recent work includes:

  • Hockin v RBS: a High Court banking case concerning interest rate products and the bank’s Global Recovery Group (‘GRG’), and involving issues of misrepresentation, LIBOR manipulation, unlawful means conspiracy and implied duties of good faith (with David Reade QC and Farhaz Khan)
  • Desiman Ltd v BOS, HBOS and Lloyds Bank: a significant banking matter involving issues of mis-selling, LIBOR misrepresentation, appointment of administrative receivers and bad faith. The case also involved an examination of the Bank’s Business Support Unit (with Stephen Auld QC and Farhaz Khan)
  • Keydata: Acting for the former compliance officer of Keydata (Johnson) in a reference to the Upper Tribunal. See Ford, Owen & Johnson v Financial Conduct Authority [2016] UKUT 0041 (TCC)
  • The LIBOR test case of Graiseley Properties Ltd v Barclays Bank Plc [2013] EWCA Civ 1372 (CA), in the Court of Appeal and in the High Court (with Stephen Auld QC and Farhaz Khan)
  • FOREX investigation. Acting for individuals under investigation by global regulators in relation to Forex matters
  • Advising on high-value interest rate swap claims, including on matters arising out of the FCA Review into the mis-selling of Interest Rate Hedging Products (‘IRHPs’)
  • Acting for a major international law firm conducting a s.166 FSMA Skilled Person’s review into the mis-selling of IRHPs and consequential losses.

In 2012 Simon was seconded to the General Counsel’s Division of the Financial Services Authority, providing advice on a range of matters, and drafting sections of the FSA Handbook, in particular in relation to Collective Investment Schemes.

Appointments & Memberships

  • COMBAR
  • Financial Services Lawyers Association
  • Association of Pension Lawyers

Awards

  • Sir Louis Gluckstein Prize For Advocacy
  • Lord Denning Scholar, Lincoln’s Inn
  • Scholar, Christ Church, Oxford University
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