3VB’s members of chambers at all levels of seniority act for major financial institutions and financial regulators worldwide, in connection with a full range of financial services business, including banking, insurance business, investment business, money laundering, client money and consumer credit. One of the foremost sets in financial services, our work in Chambers includes the litigation, arbitration and mediation of issues relating to financial services business and products; transactional advice; advice on the regulatory treatment of new financial products; advice and representation on contested applications for regulatory approval of transactions and persons; advice on prudential regulation; regulatory enforcement (for and against the regulator); legislative drafting; and expert evidence. Our barristers have particular expertise relating to transfers of insurance and banking business, both for the regulator and for the applicant.
Recent cases include OJSC Rosneft v (1) The Majesty’s Treasury; (2) The Secretary of State for Business, Innovation, and Skills; (3) The Financial Conduct Authority, Figurasin v Central Capital  EWCA Civ 504, CA and Saville v Central Capital Limited  EWCA Civ 337 (the construction and effect of Conduct of Business requirements relevant to PPI mis-selling); Crestsign v NatWest  EWHC 3043 (Ch) (Bank’s liability for negligent financial advice); and R (A Wealth Management Firm) v Financial Ombudsman Service  EWHC 1440 (Admin) (permission to seek judicial review of the Ombudsman’s failure properly to account for the FCA’s standards when reaching a ‘fair and reasonable’ decision).
Several members of Chambers have either held senior legal positions in the former UK Financial Services Authority, or have spent extended periods on secondment with UK and other regulatory authorities (including the UK Financial Conduct Authority). Our level of expertise is such that clients have said: "Getting advice from [3VB] is the next best thing to getting an opinion from the FSA itself."