Financial Regulatory and Disputes Summit 2023 | The Legal 500 | 8 November 2023 | QEII Centre, Broad Sanctuary, Westminster, London, SW1P 3EE

As a huge uptick in the use of personal devices for business communications occurred during the pandemic, some of the world’s biggest financial services institutions have found themselves in the firing line by US regulators including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), often resulting in unprecedented fines and regulatory scrutiny that continues post-pandemic.

Now that the trend from the US threatens to make its way to the UK (following an initial fine by the Office of Gas and Electricity Markets(Ofgem) and parallel scrutiny from the Financial Conduct Authority (FCA)), this panel will look at lessons to be learned from case studies in the US, including potential updates to policies, procedures, and controls so that you can more effectively manage compliance risk. The panel will explore some of the lessons learned and issues arising out of their recent successful defence of a £300m claim against a bank, which was found to have been an abuse of process. The claim was brought by the son of a former customer who had been convicted of defrauding the bank several years earlier in what was then Britain’s largest mortgage fraud. In a judgment handed down in September 2023 following a 5-week Commercial Court trial, Baker J found that the claim brought by the son was an abuse of process which was instigated and controlled by the father and that the trust through which the claim was brought was a sham device designed to hide the father’s beneficial ownership of assets.

Our panellists – the team that represented the successful bank – will delve into some of the key legal and practical issues arising from this fascinating case.

2023 Speakers

Philip Linton
Partner, Ashurst

Adam Jamieson
Partner, Ashurst

Tom Dane
Partner, CMS

Vanessa Whitman
Partner, CMS

Neil Kitchener KC
One Essex Court

Aaron Stephens
Partner (UK), King & Spalding

Peter Isajiw
Partner (US), King & Spalding

2023 Sponsors

• Three Verulam Buildings Barristers
• One Essex Court
• CMS
• Ashurt
• King & Spalding