Herbert Smith Freehills LLP

The ‘highly talented and client focused’ team at Herbert Smith Freehills LLP leverages ’in-depth market knowledge’ to good effect for large banking, asset management and insurance clients. This knowledge is gleaned not only from private practice, but also from former in-house roles and regulatory agency positions. The scope of the work is broad, running the gamut from traditional enforcement activity and investigations through to accountability reviews, working with the employment team, of individuals and groups following risk management issues. UK team head Hywel Jenkins is ‘thoughtful and considered, while also managing to be practical’. He is consequently a popular choice among clients, not only for high-profile FCA, PRA investigations and enforcement actions, but also for risk management issues relating to internal governance. Jenny Stainsby, who oversees the global group, is knowledgeable across international trends in the market, ensuring she is adept at handling work for large international financial services firms with global operations. In addition, Stainsby has been particularly visible of late in relation to non-financial misconduct investigations and whistleblowing matters. At a more junior level, the ’very knowledgeable’ Jon Ford provides ‘commercial and pragmatic’ advice to commercial and investment banks, with added insight due to his previous in-house banking role. Chris Ninan excels in guiding clients through FCA and PRA investigations, including with regard to AML issues and market abuse. Consultant Karen Anderson is also recommended.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

'HSF has a superb FS disputes team with fantastic in-depth market knowledge and comprehensive coverage. From heavyweight partners to switched-on associates, they are our go-to firm for big-ticket FS disputes and regulatory investigations. The team is also friendly, reliable and a genuine pleasure to work with. Their knowledge bulletins, updates and podcasts are always topical and insightful.'
'Highly talented and client focused team with deep coverage across the regulatory space.'
'Their advice is always on the money and to the point.'
'Hywel Jenkins is excellent. He is completely on top of his brief, thoughtful and considered while also managing to be practical.'
'Jon Ford is incredibly knowledgeable about what the regulator expects from financial services firms and provides very commercial and pragmatic legal advice which is always digestible and user-friendly without sacrificing detail.'
'HSF is in a class of its own when it comes to Financial Services litigation. The team is very commercial, pragmatic and strategic - often one step ahead of the other side. The team provides very strong legal advice.'
'Good on collaborating and listening to client demands. Strong insurance disputes knowledge and expertise.'
'Very responsive, collaborative and good industry knowledge.'

Work highlights

Provided strategic regulatory advice to TSB Bank on the resolution of investigations brought by the FCA and PRA arising out of the migration of TSB's customer data to a new platform.
Advised a guarantor lender in relation to an investigation by the FCA into the lender’s assessment of creditworthiness and affordability and handling of customer complaints, resulting in the successful resolution of the case.
Advised a number of banks on individual accountability issues arising out of risk management failures, including potential disciplinary consequences, conduct rules, fitness and propriety and regulatory references.

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