Banking and Financial Services
Devereux has experience of banking and financial services work, advising and representing individuals, corporate clients and financial institutions. Members' expertise encompasses the whole range of banking and financial services products and disputes, from PPI and interest rate swap claims to commercial banking disputes, high value institutional disputes and regulatory cases involving authorisation, market abuse, economic sanctions and money laundering.
Members are experienced in advising and appearing as advocates in a range of courts and tribunals, such as the Financial Ombudsman Service, the Financial Services Markets Tribunal, Competition Appeal Tribunal, the High Court and Court of Appeal, Crown Court and arbitration. The experience includes all ancillary aspects of litigation and regulation relevant to banking and financial services work, for example, International Freezing Orders, forum non-conveniens applications, ADR and regulatory appeals.
In addition, members advise regularly on a large range of private wealth issues, from trusts and taxation to property and insurance disputes. Members are familiar with all aspects of private wealth litigation, with extensive experience of issues which arise where cross-border transactions and offshore structures are involved.
Banking and finance
Devereux has substantial experience on financial disputes arising out of institutional banking arrangements. Particular examples include disputes between financial institutions in connection with lending, corporate and asset finance, funds and investments management, stock lending programmes, trading and broking (including prime brokerage agreements), hedge funds and private capital, derivatives, and a wide range of investment banking disputes.
Chambers has particular experience with litigation that has flowed from the events of the credit crunch and subsequent recession, and are familiar with the financial products that have attracted the most attention (collateralised debt obligations, asset-backed securities, and other forms of securitised obligations). In addition, members have been involved with LIBOR and forex issues as well as cases involving the fraudulent use of the banking system in Ponzi-style investor schemes where tracing and constructive trust issues arise.
Members have substantial experience in mis-selling claims arising out of the sale of retail banking products, as well as general disputes between retail customers and banks. Members have particular experience with claims of mis-selling of insurance products, from retail PPI policies to whole of life assurance bonds, pensions and other investment products.
Devereux has extensive experience in all aspects of financial services work. Members are very familiar with issues involving the application of the Financial Services and Markets Act 2000 which arise in the context of commercial transactions and dealings on the financial markets.
Members have been instructed to advise and represent parties in cases where there have been investigations and prosecutions brought by financial regulators such as the Financial Conduct Authority, the Office of Fair Trading, the Competition and Markets Authority, as well as the Serious Fraud Office and City of London Police Economic Crime Directorate. Typically these cases involve authorisation, market abuse (insider dealing and market manipulation), money laundering and economic sanctions issues. In addition, members have extensive experience advising financial institutions and high net worth individuals on private claims arising out of the Financial Services and Markets Act 2000.