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Sectors & services

Sectors

Financial services

financial services

corporate-canary-wharf-night-panorama

The financial services sector sits at the heart of domestic and international markets and politics. World financial markets are increasingly connected, interdependent and sensitive, a fact highlighted in recent years by the global financial recession and underlined by the ongoing challenges for firms, governments and regions seeking to stabilise and grow in a constantly evolving environment.

Financial services firms, their clients, and those whose dealings bring them into contact with the sector, face a number of operational, regulatory and market challenges. The support of independent sector-driven, responsive, commercial and pragmatic legal professionals is crucial for those seeking to succeed in such a competitive environment. This extends beyond the traditional service requirement of advice and representation connected to direct contentious and regulatory issues, to ongoing strategic and tactical input relevant to firms’ operations, risk and market considerations, and the courage to challenge a firm’s plans and convictions from a technical and commercial legal perspective.

Our financial services group draws together a group of experienced and multi-disciplinary teams that provide contentious and non-contentious advice and support to the financial services sector. Drawing upon our deep sector knowledge and understanding, we advise across the broad range of our clients’ legal requirements with the empathy, commerciality and collaboration required to provide cost-effective solutions to the broad range of our clients’ challenges, whether simple or complex, short or long term.

Browne Jacobson is currently acting as Counsel in the UK, Commonwealth and Europe to the trustee for the liquidation of Bernard L Madoff Investment Securities LLC and Bernard Madoff, in relation to recovery of investors funds following the collapse of Bernard Madoffs 40bn-plus Ponzi fraud scheme.

Learn more about the legal issues that emerged here.

what we do

Corporate and commercial - we assist with securing funding for your venture, establishing and shaping the structure of your business, guiding you through legal compliance and assisting with any corporate transactions.
Mergers and acquisitions - advising on mergers and acquisitions, private equity and venture capital deals, joint ventures and fund formation, particularly involving clients in the life sciences, healthcare, real estate, insurance and financial services sectors.
Banking and finance - specialising in acquisitions, refinancing, property finance, capital raising, security, and all other aspects of finance, including derivatives transactions. We act for domestic and international clients, including corporates, banks and other funders.
Restructuring, insolvency and bankruptcy - we represent domestic and foreign clients in a wide range of contentious and non-contentious insolvency matters, acting for local and foreign insolvency practitioners and stakeholders of financially distressed companies, as well as the directors and Boards of companies contemplating or facing insolvency.
Data protection and cyber - acting for global companies in respect of privacy implications of their day-to-day operations and development of new technology.

Financial services litigation - our domestic and international work for both local and offshore clients includes the prosecution and defence of claims, provision of regulatory advice, and coordination and management of offshore counsel in the context of often complex and competing factual, legal, legislative, political and strategic frameworks.
Commercial dispute resolution - we provide a full range of services to clients both nationally and cross-border including: advice on alternative dispute resolution; breach of commercial contracts; breach of restrictive covenants; breach of warranty; company law disputes; freezing orders; injunctions; misrepresentation; claims and shareholder disputes.
Financial Services Regulatory – we have a close understanding of the regulators and work with domestic and international firms to provide ongoing support and resolve regulatory issues from governance and compliance challenges to dawn raids and enforcement investigations.
Insurance - in addition to providing non-contentious advice on conduct risk matters to our insurance market clients, we also act for insurers of financial institutions, who we advise on policy coverage, represent policyholders and their directors and officers, and undertake recoveries work following crime losses.

focus on...

Legal updates

'It all came out in the wash'

The Financial Conduct Authority’s £15.4 million fine in October 2019 against Tullett Prebon (“TP”) has ramifications for all financial services intermediation and distribution, not just the securities trading market.

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IR35 Tax update - hear from Andrew Noble

Andrew discusses changes to IR35 tax rules which are due to be implemented in April 2020

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Insurtech UK and Browne Jacobson Legal Survival Guide on Corporate Finance and Regulation

Bringing together the great and the good of the insurtech world, we take a look back to earlier this summer when Insurtech UK invited their approved legal partners Browne Jacobson LLP, Locke Lord UK LLP and Capital Law to present as part of the Best Practice Series.

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Legal updates

Government publishes response to Joint Committee report on the draft Registration of Overseas Entities Bill

Last month we reported that the House of Lords and House of Commons Joint Committee report on the draft Registration of Overseas Entities Bill had been published.

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recent experience

Acting for the Trustee of Bernard L. Madoff Investment Securities LLC and the estate of Bernard L. Madoff, regarding the largest financial fraud in world history. Our role has centred on the progression of claims in the role of General and Strategic Counsel to the Trustee, and has included advising on substantial multi-jurisdictional funded litigation, in addition to instructing, managing and co-ordinating offshore counsel.
Acting for Bruno Iksil (the so-called “London Whale”) in relation to fraudulent trading of derivatives at the London offices of JP Morgan in various matters, including defamation and employment issues and more generally in relation to the subsequent investigations by the US Federal Reserve, SEC, and FBI.
Acting for a global insurer on their internal investigations, insurance coverage and defence matters in relation to independent financial advisers recommending payment protections insurance to their clients and subsequent mis-selling.
Acting for the executors and court-appointed administrators of a multi-million pound estate, including conducting and coordinating a multi-jurisdictional investigation into the activities of various parties and engaging in litigation to trace and recover misappropriated funds from locations offshore and in South America.