News & Events
News & Events
Oliver Powell was invited to sit on a panel discussion hosted by Brodies LLP which discussed the Financial Conduct Authority’s criminal investigatory and enforcement powers. Other panellists included: Paul Marshall, Partner Brodies LLP; James Millwards, Senior Associate Brodies LLP; and Lisa Kinroy, Associate Brodies LLP. The session was well attended by a large number of FCA-regulated professionals and businesses. The session examined: the FCA’s current enforcement priorities and strategy;the differences that apply as between Scotland and England;the conduct of an FCA investigation, including its powers to compel attendance at interview and the production of documents; andthe key protective steps financial services professionals and businesses can take in the event that they become the subject of enforcement action by the FCA.…
News 26 Nov, 2021
Justina Stewart and Chloë Bell, together with Hanif Virji of Vivadum, have written a feature article in the Journal of International Banking & Financial Law. The article considers the key international developments relating to LIBOR transition. The authors conclude that parties should exercise significant caution before signing up to the ISDA 2020 IBOR Fallbacks Protocol. You can read the article here. About the author Justina Stewart is a commercial chancery barrister. She is ranked as a leading junior in banking and finance, commercial dispute litigation and insolvency, and is appointed to the Attorney General’s Panel of Junior Counsel to the Crown. Chloë Bell is a commercial and public law barrister. She was formerly a judicial assistant to Lord Mance at…
News 9 Feb, 2021
If your client is the victim of fraud, and some of the fraudster’s assets are cryptoassets, can you get a freezing or proprietary injunction over them from the English courts? Robert Rhodes QC answers this question in the latest edition of US-China Law Review. The fundamental question is: Are cryptoassets “property”, so as to be capable of being the subject of an injunction? Recently, this has been the subject of various decisions in the UK High Court, culminating in AA v Persons Unknown [2020] EWHC 3556, where Bryan J held that although cryptoassets are neither things in possession nor things in action, they are a third category of “property” which English law recognises, and so they can be the subject…
External Publications 13 Jul, 2020
Practical tips for remote hearings and electronic bundles – Nicholas Hill reflects on a seven-day trial by Skype in the Lloyds GMP litigation. Nicholas Hill recently acted, led by Andrew Short QC, and instructed by Ivan Walker of Walkers, for the Eighth Defendant in the second substantive trial in the Lloyds Banking Group Pension Trustees Limited GMP litigation. The 2018 Judgment [2018] EWHC 2839 (Ch) confirmed that pension scheme trustees are required to adjust non-GMP benefits to equalise overall scheme benefits. The proceedings earlier this month concern the impact of the equalisation obligation on transfers out. Judgment is awaited. Nick sets out some practical tips and observations about the use and impact of technology adopted in the recent trial. In the…
Insights 26 May, 2020
Adams v Options SIPP UK LLP (formerly Carey Pensions UK LLP); Nicholas Hill comments on the Judgment two years in the making: clarity and relief for SIPP operators and execution only financial services businesses. In March 2018 the Chancery Division heard the high-profile test case on the liability of Carey Pensions UK LLP, a provider and administrator of self-invested pension plans (SIPPs), to the Claimant investor, whose underlying investments were alleged to have been manifestly unsuitable. A little over two years later Judgment has finally been handed down. The SIPP industry (and indeed a wide range of institutions conducting business on an execution-only basis) will welcome the Judgment. Case Note Nicholas Hill has written a short case note considering the Judgment…
Insights 21 May, 2020
On 18 November 2019 the Chancellor of the High Court, Sir Geoffrey Vos, launched the UK Jurisdiction Taskforce’s Legal Statement on Cryptoassets and Smart Contracts which he described as a ‘watershed for English law’. Outer Temple Chambers’ Andrew Spink QC, Stephen Butler and Chloë Bell comment on the statement and offer some preliminary thoughts on its impact and scope, which can be read here.
News 25 Nov, 2019
Ian Johnston, a Professional Associate member at OTC, today addressed the Global Financial Risk Management Conference at the Lujiazui Financial City in Shanghai. Ian shared his views on the international regulatory framework and the opportunities for cooperation amongst industry, academia and regulators. Ian also commented on the common issues faced by international financial centres, drawing on his experience as a former CEO of the Dubai FSA, regulator of the Dubai International Financial Centre (DIFC). The Lujiazui Financial City is a Special Financial Zone in Shanghai. Both Shanghai and the DIFC feature in the top 10 financial centres on the Global Financial Centres Index. Ian Johnston has recently retired as Chief Executive of the Dubai Financial Services Authority and is a Professional Associate at Outer Temple…
News 21 Nov, 2019
Michael Bowes QC has been invited by the AMLP Forum, the financial crime and corruption association, to speak at its Annual Anti-Bribery and Corruption Forum in London. The Forum is to be held on the 17-18th October 2019, Exchange House, City of London. The cross-industry Forum brings together leading stakeholders to examine the latest international and local anti-bribery & corruption (ABC) regulatory & law enforcement strategies and evolving best compliance practices. Michael will speak on ‘The Global anti-corruption risk map – latest trends, challenges and priorities’ Andrew will speak on the panel alongside panel member Patrick Moulette, Head of Anti-Corruption Division, OECD. The forum will feature panels of leading experts who will examine and provide essential updates on: G20/B20 new…
News 9 Oct, 2019
Stephen recently acted for a high profile master developer in proceedings under the rules of the Dubai International Arbitration Centre (DIAC). The arbitration related to the sale and development of commercial real estate, and the provision of infrastructure by the master developer. Stephen acted as lead counsel over the course of a four day hearing, which heard evidence from a number of expert witnesses, and successfully obtained an award exceeding $14 million on behalf of his client. Stephen has recently returned to chambers following a secondment to the arbitration team of a leading UAE law firm. His UK practice is focused on commercial litigation, particularly within the field of pensions and financial services. Stephen is also a registered advocate before…
News 12 Jul, 2019
Michael Bowes QC has been acting for the Serious Fraud Office (SFO) in relation to the Deferred Prosecution Agreement (DPA) agreed with Serco Geografix Limited (SGL), which was approved by Mr Justice William Davis at Southwark Crown Court on 4 July 2019. The DPA followed SGL self-reporting to the SFO. The undertakings given by Serco Group plc broke new ground in the development of DPAs. Mr Justice William Davis stated in his judgment, “Without the undertakings given by the parent company it is very unlikely that the goals of a DPA could have been achieved in the circumstances of this case. This is the first occasion on which undertakings of the kind made by Serco Group PLC have been by…
News 3 Jul, 2019
Michael Bowes QC is due to speak at a Royal United Services Institute (RUSI) event on 11 June 2019 in Whitehall, London. RUSI is the world’s oldest independent think tank on international defence and security, and has a global presence. Michael, who specialises in business crime, civil fraud, financial services and international sanctions has been invited to take part in a panel discussion on the ‘Paper Launch: A Civil approach to tackling Criminal Finances’, led by Helena Wood, Associate Fellow, RUSI and author of the paper. Mick Creedon, Former Chief Constable and National Police Chiefs Council (NPCC) lead on Proceeds of Crime also makes up the panel. The Paper Launch follows on from the Government’s Serious and Organised Crime Strategy…
News 5 Jun, 2019
We are delighted to announce the successful recruitment of four new barristers to our ranks. As of Monday, 8th April 2019 we extend a warm welcome to: Louis Weston Louis Weston, top-ranked sports law specialist and regulatory law barrister joins us from 3 Paper Buildings as a full Member of Chambers. Louis was the recipient of the 2017 International Advisory Experts Award: Sports Law Lawyer of the Year in England and has a thriving Sports Law practice. He prosecutes before the British Horseracing Authority, the Greyhound Board of Great Britain, the Turf Club, the World Professional Snooker and Billiards Association and before other arbitral bodies. He acts before both courts and regulators in disputes arising from sports contracts and doping…
News 5 Apr, 2019
