Perimeter Analysis, Structuring and Market Access Advice

• Advising an international provider of financial services, infrastructure and market data on the regulatory treatment of new products and the relevant licensing implications.
• Advising an EU MTF on its ability to access UK clients whilst maintaining a single liquidity pool.
• Advising clients on the optimal structure of their derivatives trading business and consequent application of licensing and other regulatory requirements.
• Advising a multinational hedge fund and financial services group on its ability to access and trade on EU markets and service EU-based clients, considering a variety of options, including direct market access, sponsored access, end-of-day swaps or a back-to-back structure.
• Advising a Franco-German financial services group (providing both brokerage and portfolio management services) on the implications of Brexit on its UK offering and assisting it in finalising its post-Brexit operating model.

Ongoing Compliance and Market Conduct

• Advising clients the requirements under UK EMIR and EU EMIR with regard to derivatives trading, including margin and reporting obligation, as well as the availability of relevant exemptions.
• Advising clients on the UK and EU MiFID transaction and transparency reporting requirements.
• Advising clients on custody and client money requirements. 
• Advising clients on prudential and regulatory capital requirements.
• Advising clients on the prohibitions and requirements applicable under the UK and EU market abuse regimes, including those specific to the energy markets.
• Advising clients on the requirements applicable in the context of algorithmic and high frequency trading activities.
• Advising client on the application of outsourcing requirements.
• Advising clients on the requirements under the EU and UK short selling regimes.
• Assisting an international banking group in drafting and finalising the necessary disclosures for the purposes of article 38 of CSDR.
• Advising a global commodities trading house on the application of SFTR and practical implications.

Commodities and Emissions Trading

• Advising a multinational mining company on the UK regulatory perimeter implications of derivatives trading, including in respect of licensing and the availability of exemptions/exclusions, and providing practical guidance on the triggers of UK regulation.
• Advising an international oil and gas company on the UK and EU regulatory implications of its global derivatives trading and working with the client to develop a compliance manual.
• Advising an international oil and energy company on the scope and application of REMIT and the corresponding UK legislation.
• Advising clients, including an international commodities house, on the regulatory characterisation of mandatory and voluntary emission allowances.

Transactional Support, Documentation and Regulatory Engagement

• Advising clients on issues arising during supervisory engagement with the FCA and the PRA, including in the context of VREQs and S166 exercises.
• Assisting clients in respect of regulatory filings for authorisation and preparing corresponding documentation.
• Providing regulatory support in respect of filings and advisory queries in the context of corporate transactions.
• Advising clients on the regulatory impact and consequences following market-sensitive or disruptive incidents.