Maintains a dominant position in the market for its impressive financial services practice.

- Chambers & Partners UK Bar (2022)

Financial Services

3VB is one of the leading financial services sets in London. Consistently listed in both Legal 500 and Chambers & Partners as a Band 1 set, it has a wealth of expertise in this area, encompassing private litigation, contentious regulatory work and judicial review.

Members of Chambers act for and against financial institutions, financial regulators, and private clients worldwide, in connection with a full range of financial services matters, including banking and insurance, Part VII FSMA transfers, investment business, money laundering, consumer credit and enforcement activity.

Cases of note include:

  • Asset Land Investment Plc and another v FCA [2016] UKSC 17 (the leading authority on collective investment schemes).
  • Lloyd’s of London v Atrium Underwriting Limited (2022) (regulatory proceedings brought by Lloyd’s for non-financial misconduct, resulting in the largest fine ever imposed by Lloyd’s).
  • T v FCA [2021] EWHC 396 (Admin) (a rare successful Judicial Review ordering the FCA to stay an investigation pending the outcome of a trial in the SKAT litigation).
  • FCA v Avacade [2021] EWCA Civ 206 (on the regulatory perimeter, including the scope of the exceptions to article 25 of the Regulated Activities Order).
  • Re The Prudential Assurance Company Limited [2020] EWCA Civ 1626 (the first occasion on which the Court of Appeal considered the Part VII FSMA (control of business transfers) jurisdiction).
  • Tinney v FCA [2019] UKUT 0227 (TCC)  (the first reported Upper Tribunal case where a P1 lack of integrity finding did not result in a ban or a fine).

Members of Chambers regularly appear in overseas jurisdictions (including the Middle East and Asia Pacific) and several have held senior legal positions in the former UK FSA or have undertaken secondments with the FCA and the PRA. Members of Chambers also edit and contribute to the leading text in this area, Financial Services Law (Walker, Purves and Blair QC (eds), Oxford University Press).

The Lawyer Awards 2022: Chambers of the Year