High interest in Global Investigations & Judicial Oversight seminar

Following the successful seminar co-organised by Outer Temple Chambers and FSLA on Global Investigations and Judicial Oversight, held on 17th November 2015, feedback has shown that there is high interest.

By way of a summary, our expert panel was chaired by Richard Lissack QC of Outer Temple Chambers, with speakers Mark Steward, the new Executive Director of Enforcement and Market Oversight at the FCA; Stephanie Pagni, the Global Head of Litigation at Barclays Bank; Dorian Drew, a Partner at Clifford Chance; Judge Timothy Herrington of the Upper Tribunal (Tax and Chancery Chamber); and Richard Hitchcock QC of Outer Temple Chambers.

Four key issues were highlighted by our speakers, namely:

• Seeking the truth versus settlement.
• The position of third parties.
• Follow-on commercial litigation.
• Collaboration between regulators and regulated firms.

The debate about collaboration has continued to run with Mark Steward’s discussion of the risk of double jeopardy for individuals and firms on 22nd January 2016 at a PLI Seminar.

Mark said “some kind of treaty needs to be explored so we don’t have the phenomenon of piling on”, referring to the aggregate impact of multiple enforcement agencies seeking substantial fines in cross-border investigations, a concern voiced at the OTC / FLSA event by Stephanie Pagni.

Judge Herrington, who spoke at the OTC / FSLA seminar about the Upper Tribunal’s experience with cases brought by individuals seeking to rely on third-party rights under s393 of FSMA, has this month delivered judgment in Ashton v FCA, the latest third-party case.

News 28 Jan, 2016