Banking and Financial Services

Members of XXIV Old Buildings have extensive experience of financial services disputes and the Financial Services and Markets act (FSMA). Several members are individually recommended in Chambers & Partners and Legal 500, with XXIV Old Buildings itself recommended as a leading set by Legal 500.

Members have experience of advising investors, investment advisors, liquidators, banks, offshore spread betting companies and internet gambling companies in relation to:

collective investment schemes, such as land banking schemes, film schemes and tax schemes
prospective creditor claims
negligent mis-selling of structured products and other investments
enforceability of debts arising under contracts entered into in breach of the general prohibition under the FSMA
trading debts founded on spread bets and other contracts for differences based on stock, commodity, foreign exchange and other markets
drafting standard terms of engagement for spread betting and foreign exchange businesses
financial promotions
judgments obtained in US states with anti-gambling statutes
disputes relating to various investment transactions

XXIV Old Buildings also has extensive experience of hedge fund and structured investment vehicle work.

Stephen Moverley Smith QC, Francis Tregear QC, Erin Hitchens, Daniel Warents and Owen Curry all contributed articles to Butterworths Journal of International Banking and Financial Law. These cover gross negligence after Spread Trustee v Hutcheson, the dangers of taking shares in private companies as collateral and a wholly novel element to the test for loss of substratum. If you would like copies of the articles, please contact clerks@xxiv.co.uk.