Financial services and markets
- Securities, regulation and enforcement

Financial services and markets

The financial crisis has prompted regulatory change on an unprecedented scale. Our dedicated financial services practice helps clients to structure their business in the most efficient way, minimising regulatory burdens while complying with relevant regulations.

Our financial services and markets group advises on:

Financial services advisory and transactional matters including new product launches and contractual documentation
Contentious legal issues such as regulatory investigations and enforcement actions and court proceedings in the financial services sector.

We are closely involved with UK and European regulatory reform, and partners have direct experience of working within bodies such as the Financial Services Authority (FSA) and HM Treasury. We have a leading reputation in the market for undertaking some of the most complex investigations and enforcement actions.

Team and reputation

The financial services and markets group is full service across the retail and wholesale financial services spread of work. The group in London is led by Jonathan Herbst and Peter Snowdon.

The group has an unrivalled combination of inside experience at the regulator and provides a commercial approach to the sensitive issues involved. Before joining Norton Rose LLP, Jonathan Herbst was Head of European Law at the FSA and Peter Snowdon was a barrister employed in the FSA’s General Counsel’s Division. Lawyers in the group combine fee earning work with active participation in industry groups such as the BBA. Lawyers have also contributed to leading texts with an example being the commodities derivatives chapter in A Practitioner’s Guide to MiFID.

The group works closely with the firm’s contentious regulatory specialists who act for a wide variety of clients at all stages of investigations and disciplinary proceedings. This team includes the highly experienced litigators Charles Evans and Dorian Drew.

Chambers UK 2010 notes that this practice has a fast-growing profile in the market with a broad scope of work, maintaining a focus on hedge funds, wealth management, market infrastructure, commodity derivatives and transactional work. Clients say “we value the team’s ability to align itself to our culture and approach, and the accessibility and responsiveness demonstrated particularly at partner level.”

Clients and experience

We have advised some of the largest European, US and financial institutions on financial services issues. We have also carried out work for a number of other major organisations and exchanges in Europe, including The International Securities and Markets Association (ISMA), Investment Management Association, The Futures and Options Association, Euronext LIFFE and the International Petroleum Exchange.

Financial services technical resources

MiFID: Pegasus

Pegasus is our financial services online resource designed to assist those working on MiFID review projects. It sets out the latest developments and timing of the MiFID review, plus the key papers from the Commission, ESMA and the FSA. Our latest briefing notes, videos and webcasts are also available.

View Pegasus

UK reform: Phoenix

Phoenix is our financial services online resource designed to help those conducting UK regulatory reform projects. It sets out the latest developments and timing of the Government's reform programme, plus the key papers from the Treasury, Bank of England, FSA and the ICB. Our latest briefing notes, videos and webcasts are also available.

View Phoenix