Richard specialises in financial services regulatory and related legal areas.
He works directly with financial services and other clients, as well as taking instructions from solicitors and in-house lawyers.
Richard joined Chambers in January 2005. He had previously been an Assistant Official Receiver in the DTI’s Insolvency Service, a Senior Examiner in the DTI’s Companies Investigation Branch, Enforcement Counsel at the Investment Management Regulatory Organisation, and an Advanced Associate, Litigation Counsel and Enforcement Counsel at the Financial Services Authority.
At the FSA, Richard was involved in legal and policy work leading up to the introduction of the FSMA regulatory regime in December 2001, and then in advising on, and managing, investigations and enforcement casework.
Since joining Chambers Richard’s work has included advising on:
- perimeter issues, regulated financial services activities, financial promotions and collective investment schemes;
- applications for authorisation and variations of permission, and “passporting” into and out of the UK;
- conduct of business, client money and assets, prudential and anti-money laundering requirements;
- FSA and FCA supervision and enforcement investigations;
- duties of financial advisers, liability of appointed representatives and their principals;
- Freedom of Information and Data Protection issues;
- UK and EU regulation of medical devices and cosmetics;
- regulation of estate agents;
- complaints to the Financial Ombudsman Service, Bar Standards Board, Legal Services Ombudsman, Information Commissioner and Parliamentary Ombudsman; and
- applications for compensation to the Financial Services Compensation Scheme.
Richard was heavily involved in issues arising from the failure of Keydata Investment Services Limited. He has worked on matters arising from a wide range of financial services business areas, including financial advice, structured product provision and distribution, spread betting, unregulated collective investment schemes, invoice discounting, payment services, futures trading, insurance intermediation, mortgage intermediation, banking conduct of business, and claims management.
Much of Richard’s work is advisory and/or relates to regulatory enquiries and matters that are concluded without further action by the regulator or disputes that are resolved by agreement and remain confidential.
Richard is a Chartered Member of the Chartered Institute for Securities and Investments.
- Qualifications & appointments
- Visiting Lecturer (MSc Financial Regulation and Compliance Management), London Metropolitan University, 2000 – 2006
- External Specialist, Chartered Institute for Securities and Investments, 2008 – 2014
- Professional memberships
- Association of Regulatory and Disciplinary Lawyers
- Chancery Bar Association
- Chartered Institute for Securities and Investments
- Chartered Insurance Institute
- Commercial Bar Association
- Financial Services Lawyers Association
- Gray’s Inn
- Society of English and American Lawyers
BA (Hons), LLM
- The Financial Services Authority – new regulator, new powers of investigation, Fraud Intelligence, issues 39 and 40 2001
- ‘Making ends meet’, The Lawyer, 23 May 2005
- ‘A move towards public interest bankruptcy: individual insolvency as a regulatory tool’, Tolleys Insolvency Law and Practice, issue 1 2006
- Various “Enforcement Briefings” in the Company Lawyer, 2009 onwards