Gough Square Chambers

Stephen Neville has specialised in Financial Services Law for over 25 years.He has provided the key regulatory compliance reviews for many of the largest acquisitions of CCA and FCA regulated portfolios and businesses over the last decade.The Legal 500 2018 Directory recommends him under Banking and Finance, and Financial Services, stating: “He has a brain the size of Mars, and is still extremely approachable and personable… One of the most user-friendly barristers in this area.”

Clients

Recent clients include:

Lenders: HSBC, Sainsburys Bank, Handelsbanken, RBS, Manchester Building Society, Societe Generale, Virgin Money, Amigo Loans, GE Money, Lloyds, HBOS, Citigroup, MBNA, the Co-op, Northern Rock, Nationwide, Black Horse, Provident, Kensington Mortgages, ING, Lombard, Capital One, Southern Pacific, Capital Home Loans, Mortgages plc, Preferred Mortgages, Irish Life & Permanent, Ulster Bank, BNP Paribas, and Banco Bilbao.

Private equity: Cinven, CVC Capital Partners, ICG, Blackstone, TPG Capital, Apax Partners, Patron Capital Partners, Teacher’s Private Capital

 Retailers/Suppliers: Apple, Dell, Tesco, Prudential, Virgin Media, T-Mobile, Axa, Jordon, Marriott, Aviva, Moss Bros, Evans Cycles, Brighthouse, Volkswagen, Land Rover, Mitsubishi.

 Debtor Acquirers: Lowell, 1st Credit, Arrow Global, Marlin.

 Representative organisations: Credit Services Association, Finance and Leasing Association.

Financial services

Stephen advises banks and other finance providers on compliance with the FCA Handbook, the Consumer Credit Act 1974 (“CCA”) and the Financial Services and Markets Act 2000.

He has drafted many hundreds of templates for loan and security documentation, covering a wide range of financial products, including fixed sum and running account loans, credit cards, first and second mortgages, guarantor and payday lending, timeshare, litigation finance, shared equity schemes, pawn, hire, conditional sale, employee share purchase, and deferred payment for goods or services.

He has been a key adviser on CCA/FCA compliance of target companies in preparation for some of the largest acquisitions of regulated portfolios and businesses over the last decade. His compliance reviews typically encompass all client facing documentation, policies and processes, and correspondence with the regulators. Examples since 2014 are: – a £12billion portfolio of mortgages– a credit card issuer with 5 million customers and £1.6 billion of receivables– the UK’s largest guarantor lender.– a second charge lender, with total lending of £1.6billion– the UK’s largest judicial services/debt collection company– the financial services arm of a retail group acquired for £1.4 billion.– an acquirer/manager of £4billion non-performing FCA regulated bank debts– a £4billion portfolio of consumer loans.– a company with 14 million FCA regulated accounts in arrears.– a portfolio of £1billion of pre-2008 FCA regulated mortgages.He has also reviewed enforceability and compliance for a wide range of securitisations.

 Supply contracts

Stephen has drafted standard terms and conditions, and web pages, for many major retailers – including Apple, T-Mobile and Dell – and advises on, and litigates, disputes over contracts for the supply of goods or services.

Also, he has made representations, on behalf of clients, to Ofcom, the Advertising Standards Authority, BIS, the Treasury, and the Financial Ombudsman.

 Legal 500 Directory quotes

“He has a brain the size of Mars and is still extremely approachable and personable.” “One of the most user-friendly barristers in this area.” – Legal 500 (Banking and Finance and Financial Services) 2018

“He has a thorough knowledge of consumer credit law, the market and commercial drivers.” – Legal 500 (Banking and Finance) 2017

“He produces excellent technical work and has a dogged determination to get to the bottom of potential issues.” – Legal 500 (Banking and Finance) 2016

“Has an encyclopaedic knowledge of the demanding field of consumer credit law” – Legal 500 2015

 Publications

He was co-author of “The Law of Consumer Credit and Hire” (Oxford University Press – published 2009) and the “Atkins Court Forms” volume on “Consumer Credit” published in 2008.

He studied law at St. John’s College, Cambridge from 1979 to 1982, winning the McMahon Law Scholarship whilst there for being one of the best of his year. After graduating, he travelled widely in Asia and Latin America before being called to the Bar in 1986.

St John’s College, Cambridge (1982 MA Law).