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"A very focused, talented and knowledgeable banking lawyer. He does banking litigation but also other aspects, so you get a lot of bang for your buck."
David leads the firm’s financial services litigation strategy nationally. He recently joined Shoosmiths from the Financial Conduct Authority (FCA).
He brings with him an in-depth insight into the FCA regulatory processes. He spent 3 years in Enforcement Legal (Enforcement and Market Oversight). Representative regulatory procedural work for that period includes:
acting on early intervention cases OIVOPs and OIREQs
legal reviewer on settlement, RTC and RDC papers
appearing before the RTC and RDC on behalf of the FCA
acting on behalf of the FCA in Upper Tribunal references; and
Member of the FCA's Insolvency Expert Panel.
Specific knowledge acquired related to PRIN Principles for Business, COND Threshold Conditions, COCON Code of Conduct, APER Statements of Principle and Code of Practice for Approved Persons, FIT The Fit and Proper Test for Approved Persons, business standards in COBS, ICOBs, MCOB, BCOBs, CASS and MAR. In particular David’s work has involved advising Supervision and Enforcement case teams in relation to the following matters - bank mobilisation, change of control, applications by individuals for approval, authorisation of firms, investigations into firms and senior individuals, supervisory and enforcement outcomes and/or sanctions.
David has also worked on high profile banking and insolvency disputes. Representative work includes advising:
a UK bank subject to a claim that it had mismanaged a discretionary investment portfolio
an investment bank in relation to a dispute over the interpretation of an ISDA governed OTC FX Forward trade
trustees of a major pension fund on counterparty insolvency risk in relation to an ISDA governed investment product
banking clients on trust and security issues
a UK bank in relation to a claim that it was acting as a shadow director upon additional financing in turnaround; and
a UK bank in relation to a claim that it was in breach of duty in the operation of a composite accounting agreement.
He commenced his career with CMS Cameron Mckenna before he was appointed to Head of Litigation (UK and internationally) for the Retail Financial Services division of a clearing bank. On his return to private practice he headed finance litigation teams in London and nationally before his time with the FCA.