Financial Services and Regulation:

Recent Matters

Corporate Financial Services

• Regularly advising a number of investment banks, including Evolution Securities Limited, Matrix Corporate Capital Limited and Seymour Pierce Limited, on FSA compliance and investigation issues.
• Acting for Syndicate Asset Management Plc, a fund management group, and its subsidiaries on their acquisitions of several authorised fund management companies, including EPIC Investment Partners Limited, Insight Investment Management (CI) Limited, Ashcourt Holdings plc and Savoy Asset Management plc, as well as on various FSA compliance issues including change of control applications and approved persons issues.
• Acting for Jubilee Financial Products Limited on its FSA authorisation application and on the establishment of two hedge funds and a Jersey-based UCITS 3 compliant OEIC.
• Acting on the AIM flotations of several funds, including Equity Special Situations Limited (which invests primarily in the UK financial services sector), Cobra Capital Limited (which invests primarily in UK-quoted stocks) and Equity Pre-IPO Investments Limited (which invests in businesses on a pre-IPO VC model).
• Acting for a number of companies in alternative investment classes, including Noble Investments (UK) Plc (antique coins trading and stamps), Avarae Global Coins Limited (antique coins investment) and Art Trading Fund (fine art trading and investment).
• Acting on the AIM flotation of STM Group Limited, an off-shore trust business, and advising on its acquisition of Fidecs Group Limited, an offshore trust business.
• Advising Altair Financial Services International Plc, a debit card issuer and processor.

Dispute Resolution Financial Services

• Advising on a range of investigations and disciplinary proceedings in which the FSA has been a counter-party, as well as investigations and/or disciplinary proceedings against individuals.
• Successfully defending Ellis Stockbrokers in a High Court claim brought by an investor alleging unauthorised trading on his account.
• Acting for an authorised person and a high net-worth investor in connection with criminal charges under the Criminal Justice Act 1993 and allegations of market abuse under Section 118 of the Financial Services and Markets Act 2000.
• Acting for Evolve Capital plc in its successful hostile takeover of Blue Oar Plc, with regard to advanced claims based on regulatory misconduct and breach of fiduciary duty by the board of the target company.
• Acting for a property development company regarding its compliance with FSA rules in the sale and arranging of mortgage contracts.
• Acting for individuals in pursuing claims against an FSA-regulated spread betting company in administration, regarding Client Money Rules/segregation and treatment of client funds.
• Acting for investors to a failed capital gains tax savings scheme, which was disallowed, pursuing numerous claims against banks and the scheme promoters.