“… an excellent associate who completely masters the detail of complex cases”

Legal 500 UK, 2021

Phil specialises in advising individuals and corporates in relation to criminal and regulatory issues. His practice covers all areas of business and financial crime, financial services investigations, contentious regulatory matters and internal investigations.

Business and Financial Crime

Phil has experience of advising on complex and high profile investigations and prosecutions by a wide range of bodies, including the Serious Fraud Office (SFO), Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA), Crown Prosecution Service (CPS), National Crime Agency (NCA), HM Revenue & Customs (HMRC), Competition and Markets Authority (CMA) and Insolvency Service.

His cases frequently involve serious allegations such as fraud, market abuse, insider dealingmoney laundering, false accounting, bribery and corruption, electoral offences and anti-competitive behaviour. Phil also has experience of asset freezing and forfeiture cases under the Proceeds of Crime Act 2002, including advising on and challenging restraint orders and account freezing orders (AFOs). Many of Phil’s cases have an international element and he has advised on cross-border investigations, extradition proceedings and Interpol matters.

FCA Investigations and Enforcement

Phil is a member of Kingsley Napley’s specialist Financial Services Group and has extensive experience of advising firms and individuals regulated by the FCA. He has represented a large number of clients under investigation by the FCA for alleged market abuse, insider dealing, false accounting, making misleading statements to the market, misleading auditors, conducting unauthorised business and other regulatory breaches.

He has experience of advising on FCA investigations from their early stages, including attending compelled interviews and interviews under caution, through to cases before the FCA’s Regulatory Decisions Committee (RDC), Upper Tribunal and Court of Appeal. Phil has also advised on many contested FCA approval applications and advises firms and individuals on a range of other FCA regulatory issues, including reporting obligations and supervisory issues.

Internal investigations

Phil regularly conducts internal investigations on behalf of corporates into allegations of wrongdoing, often following whistleblowing reports. He also advises members of staff involved in such investigations. His experience spans a number of industry sectors including financial services, mining and metals, media, charities/foundations and technology.

Contentious regulatory matters

Phil also advises on contentious regulatory issues in a range of other sectors, including matters involving the Financial Reporting Council (FRC), Institute of Chartered Accountants in England and Wales (ICAEW), Gambling Commission and CFA Institute.

Recent work

Business and Financial Crime

  • Representing a global professional services firm in respect of criminal allegations of fraud against a number of its employees.
  • Representing several individuals in respect of an SFO investigation into overseas bribery and corruption.
  • Representing an individual under investigation by the SFO for suspected fraud, bribery and money laundering.
  • Representing an individual under investigation by the SFO in connection with accounting issues.
  • Representing several individuals in relation to HMRC investigations following the “Panama Papers” and “Paradise Papers” leaks.
  • Representing firms and individuals in relation to money laundering and proceeds of crime investigations, including those whose bank accounts are the subject of account freezing orders.

Financial services

  • Representing suspects under investigation by the FCA for suspected insider dealing and market abuse.
  • Representing the CEO of a major bank under investigation by the FCA, PRA and FRC following the near-collapse of the bank.
  • Representing a senior banker under investigation by the FCA for alleged breaches of APER 1 (integrity), successfully overturning a prohibition order following a contested hearing before the Upper Tribunal.
  • Representing the CEO of a FTSE 250 company under investigation by the FCA for alleged market abuse in connection with a number of profit warnings.
  • Representing the CEO of a firm under investigation by the FCA for misleading financial promotions.
  • Representing a firm in relation to allegations of conducting unauthorised business.
  • Representing a number of individuals in relation to contentious non-routine FCA approval applications.
  • Representing the CEO of a bank in relation to an internal investigation into allegations of misuse of inside information.
  • Representing a number of bankers in relation to internal investigations concerning allegations of false accounting, breaches of risk limits, fraud, bribery, market manipulation, market abuse and other AML and compliance issues.

Competition and cartels

  • Representing an individual in respect of an investigation by the European Commission into alleged anti-competitive behaviour.
  • Representing an individual in respect of an investigation by the CMA into alleged price-fixing and market sharing.

Internal investigations

  • Conducting internal investigations for several companies into allegations of misconduct by current and former staff members.
  • Representing the CEO of a bank in relation to an internal investigation into allegations of misuse of inside information.
  • Representing the CEO of a listed company in relation to allegations of fraud and false accounting.
  • Representing a number of bankers in relation to internal investigations concerning allegations of false accounting, breaches of risk limits, fraud, bribery, market manipulation, market abuse and other AML and compliance issues.

Regulatory

  • Representing an individual under investigation by the CFA Institute.
  • Representing an individual in respect of a Gambling Commission investigation concerning anti-money laundering (AML) and social responsibility issues.
  • Representing a number of accountants under investigation by the ICAEW and FRC relating to accounting and conduct issues.

 

professional societies and memberships

  • Financial Services Lawyers Association (FSLA)
  • London Criminal Courts Solicitors' Association (LCCSA)
  • Young Fraud Lawyers' Association (YFLA)

 

Related Services

Financial Services Investigations

We provide intelligent and tactical representation to those involved in an investigation by defending accusations and mitigating risks.

Investigations

When an individual or company is faced with a criminal or regulatory investigation we manage every step of the process.

Serious Fraud

Defending complex white collar cases successfully is what we are known for. The firm has the largest team of specialist criminal lawyers in the UK.

Insider Dealing

We have extensive experience in representing individuals who have become embroiled in insider dealing investigations.

Financial Services

Financial services firms, professionals and clients need advice more than ever to safeguard their business interests, careers and reputations.

Applications for Registration in Financial Services

Our team advise individuals, corporates and organisations in financial services on registration, licensing, accreditation, and certification.

Cartels, Competition, Price Fixing and Anti-trust

Our top ranked cartels team is extremely well placed to provide advice to individuals and companies who are caught up in cartel activity.

Regulatory

Our team of highly experienced lawyers provide advice on regulatory compliance, investigations, adjudication, enforcement and prosecutions.

Regulated Professionals

We have a longstanding reputation for excellence in advising regulated professionals in all aspects of their business affairs.

Proceeds of Crime and Money Laundering

Recent years have seen considerable growth in this practice area, following the introduction of new measures designed to tackle illicit finance and the increased attention of enforcement agencies.

Account Freezing and Forfeiture Orders, and Cash Seizure

Tackling illicit finance and the proceeds of crime is a government priority and law enforcement focus.

AML Compliance

Ensuring that the UK financial system is an increasingly hostile environment for illicit finances is a key government priority.

Restraint Orders, Confiscation and Third Party Rights

We advise individuals and corporates in relation to restraint orders and third party applications in respect of property caught by restraint orders.

Unexplained Wealth Orders

UWOs are used by law enforcement agencies to require an individual to prove that a particular asset was obtained through legitimate means.

Extending Moratorium Periods

Another feature of the Proceeds of Crime Act that can have the unwelcome effect of freezing property is the 'moratorium period'

FCA Investigations

Our team of expert lawyers has an impressive track record of successfully defending both individuals and institutions facing regulatory misconduct, disciplinary breach and criminal investigations conducted by the FCA.

Insight from Philip

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