Patrick is a partner in the corporate division specialising in financial services regulation. Prior to joining Herbert Smith he was European Regulatory Counsel at Lehman Brothers where he was very involved in the implementation of a number of significant European Directives across the bank's European business lines. His practical experience of working in a major financial institution and understanding of the regulatory policy process in the UK and Europe gives him a unique perspective when advising clients on regulatory compliance issues. Patrick is a member of a number of trade association working groups and is also a member of the Regulatory Law Committee of the City of London Law Society. He was recently included in the Hot 100 list compiled by The Lawyer for 2008.
Credentials
- acting as lead legal and regulatory adviser to Lehman Brothers' implementation programme relating to the Markets in Financial Instruments Directive (MiFID). Patrick is particularly known for his industry work relating to the MiFID best execution requirements and the MiFID Connect guidelines
- key role in the implementation of the Market Abuse Directive across Lehman Brothers' European business lines, including the preparation of internal procedures for stabilisation, buy-backs and insider lists
- advising clients on a range of regulatory compliance issues arising under MiFID, including preparation of client documentation and internal best execution and conflicts of interest policies
- advising clients on market conduct issues, including market abuse issues under the Code of Market Conduct and disclosure issues under the Disclosure and Transparency Rules
- advising clients on FSA change of control approval requirements in the context of corporate M&A activity
- preparing internal stabilisation procedures and related disclosure documentation for an investment bank, including delivery of a training presentation to affected staff
- advising a major financial institution on the application of the Payment Services Directive to its European business lines
- advising clients on the treatment of cash and securities deposited with financial institution counterparts, including issues arising under FSA client money and custody rules
- assisting a hedge fund manager with the introduction of a physical information barrier (or Chinese wall) to separate different parts of its portfolio management business