Richard has a long-established practice and wide experience in the financial services sector. He has extensive experience of disputes affecting financial services professionals and consumers and in particular claims for breach of duty by IFAs. He has acted, for example, in several high profile financial services disputes.
He advises upon the relationships of intermediaries with the FSA, and has particular interest and experience in money laundering, having contributed to the Practitioner’s Guide to UK Money Laundering Law and Regulation.
Richard has a very broad experience of all types of business disputes, acting for both claimants and defendants. Examples of the business sectors within which he has acted are as follows:
- Money laundering insofar as it affects legal and accountancy professionals. He has contributed to the Practitioner’s Guide to UK Money Laundering Law and Regulation,
- He has extensive experience of disputes affecting financial services professionals and consumers and in particular claims for breach of duty by IFAs. He has acted in several cases involving Keydata, and Senior Life Settlements. He was instructed in the Arch Cru litigation.
- He advises upon the relationships of intermediaries with the FCA, and acted for the FCA in the Semperian case (failure to obtain FCA authorisation to change of control in complex restructuring),
- He has particular expertise in the area of confidential information in the private equity sector (Vercoe v Rutland [2010] -EWHC 424 (Ch)) and has advised extensively in respect of such disputes,
- He has also been engaged in disputes between HMRC and taxpayers seeking to recover VAT input tax, a developing area.
- He acted for Midlands Regen Limited in its successful claim for breach of duty
Other experience includes:
- A claim under a shareholders’ agreement in respect of club premises
- A claim in respect of breach of a confidentiality agreement, economic duress and abuse of a dominant position in the paper industry
- Advice on the form and content of a construction joint venture agreement
- Non-disclosure and misrepresentation issues relating to employers’ liability policy
- Contractual issues in respect of operation of equestrian centre
- Claim for negligent misrepresentation and breach of contract arising out of TUPE transfer
- Product liability claim in respect of Land Rover vehicle relating to electronic systems
- Utilities dispute regarding supply by National Grid
- Claims relating to negligent valuation of reinstatement costs by lending institution’s surveyor
- Claims in respect of accountant’s alleged negligence arising out of settlement with HMRC
- Claim for commission payments arising out of sale of defence industry software to Middle Eastern conglomerate
- Claim arising out of sale and purchase agreement relating to racetrack
- Claim relating to impact of Hire Purchase Act upon vehicles acquired subject to bills of sale
- Mirror Group Pensions (acting for Bank of America)
- Brinks Mat (acting for Engelhard, innocent purchaser of smelted gold)
- Consumer credit issues
Recommendations
“He has both the cerebral ability and the adversarial ability.” “He’s intelligent and looks at cases thoroughly but is also a very good advocate.”
Chambers UK 2016
“A particular expert in financial services matters, including cases with group litigation orders and professional negligence”
Legal 500 2015
Experienced silk with a strong reputation on the Midland Circuit. He heads the chancery and commercial group at No5 and his commercial practice focuses on financial services disputes. “He has provided good advice and is very approachable.”
Chambers UK 2015
Appointments
QC (1996)
Recorder
Chair, Enforcement Committee Panel, Financial Reporting Council
Legal Chair, disciplinary panel of ICAEW
Senior Decision Maker, Guernsey Financial Services Commission
Fellow, Society of Advanced Legal Studies
Pool of legal chairs for the AIM disciplinary committee, London Stock Exchange
Memberships
Midlands Chancery and Commercial Bar Association
London Common Law and Commercial Bar Association
Qualifications
Approved for public access work
