Year of Call:
Stephen practises commercial litigation, with a focus on international dispute resolution and arbitration, pensions, and financial services law.
His international practice is predominantly based in the United Arab Emirates (UAE), and the wider GCC region. In the past twelve months Stephen has been instructed as sole counsel in a number of multi-million dollar arbitrations, including in the fields of construction, property and shareholder disputes. He has appeared in arbitrations conducted under a number of institutional rules, including the ICC, DIAC, DIFC-LCIA and ADCCAC. Stephen also regularly appears in the Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM) Courts across a number of areas, including applications for interim injunctive and Mareva relief, financial services disputes, employment disputes, and jurisdictional challenges. Stephen is also currently instructed in relation to a Dubai Financial Services Authority (DFSA) regulatory investigation.
Stephen’s domestic practise is focussed on general commercial litigation, pensions and financial services law. He has spent time on secondment at the Pensions Regulator, as well as both the Enforcement and General Counsel’s Division of the Financial Conduct Authority. Stephen has experience in respect of both Part 7 and Part 8 pensions actions, as well as having appeared before the Determinations Panel of the Pensions Regulator.
Some examples of Stephen’s recent instructions include:
- Acting as sole counsel for a sub-developer in an arbitration claim and counterclaim with a combined value of approximately $200 million (DIAC)
- Acting as sole counsel for a Master Developer in a $14 million arbitration claim against a sub-developer for breaches of its construction and payment obligations (DIAC)
- Acting for a large UK Company (led by Andrew Spink QC) in a pensions case raising giving rise to complex historic validity and rectification issues
- Appearing before the Determinations Panel of the Pensions Regulator resisting action taken to appoint an Independent Trustee to the Merchant Navy Rating Pensions Fund
- Acting as sole counsel for the main contractor in a number of multi-million dollar arbitrations arising from a high profile infrastructure project in Qatar (ICC)
- Appearing before the DIFC Courts on behalf of a client subjected to a freezing order in a $30+ million civil fraud dispute, raising novel questions on the application of “reflective loss” principles in the jurisdiction
- Advising and drafting in respect of a substantial financial services regulatory investigation in Dubai
Stephen has a first-class degree in History from Oxford University. He completed his Graduate Diploma in Law with distinction, and achieved an outstanding grade in the Bar Professional Training Course. He is also a contributing author to Atkin’s Court Forms issue on Pensions.
Stephen is public access qualified and accepts instructions directly from members of the public.
Since joining chambers Stephen has gained experience in a range of civil and criminal litigation in the field of banking and financial services, and has worked in both the Enforcement and the General Counsel’s Division of the Financial Conduct Authority.
Stephen has experience of advising on interest rate hedging product (IRHP) mis-selling, unfair relationship claims under s. 140A-D Consumer Credit Act 1974, applications for change of control under Part XII FSMA and other issues relating to suitability of investment advice.
At the Financial Conduct Authority, Stephen was involved in a high profile investigation of a retail bank and has advised on numerous issues relating to pensions scams, authorisation of firms, passporting, and the scope of the FCA’s powers under FSMA.
Stephen also has experience of a high profile criminal investigation, conducted by the Serious Fraud Office, into allegations of corruption and bribery against a large UK bank.
As well as having experience of the regulation of financial services in the UK, Stephen also has experience in advising international clients in respect of the regulatory framework in the DIFC. He is currently instructed in relation to a Dubai Financial Services Authority (DFSA) regulatory investigation.
Examples of other recent instructions include:
- Advising a SIPP / TIP provider in relation to its reporting obligations under the FEES Manual of the FCA Handbook
- Advising and drafting pleadings in relation to the clawback of commission by an FCA regulated firm in relation to a number of insurance products
- Advising on the application of DFSA rules in a dispute between a bank and a commercial business
Appointments & Memberships
- Lincoln’s Inn
- Association of Pensions
- DIFC Part II Registered Advocate
- Lord Denning Scholarship, Lincoln’s Inn
- Hardwicke Scholarship, Lincoln’s Inn
Stephen Doherty is regulated by the Bar Standards Board (BSB) and holds a current practising certificate. If you are not satisfied with the service provided, please click here.