Regulatory breaches can escalate quickly, triggering FCA notifications, investigations, and potential civil or criminal exposure

For regulated firms and individuals, the way you respond — and how fast — can shape the outcome. Shoosmiths helps clients act decisively, guiding them through complex regulatory challenges with clarity and a clear vision. We understand the pressure and the stakes, and we work to protect both commercial interests and personal reputations.

With over 30 years’ experience, our team brings deep sector knowledge and a pragmatic approach to every matter. We support clients in relation to enforcement investigations, preparing for regulator visits, reviewing compliance frameworks, advising on reporting obligations and preparing individuals for SMF interviews. We also assist with Section 166 appointments and provide ad hoc advice on navigating the regulatory landscape. Our goal is simple: to help clients stay compliant, reduce risk, and move forward with certainty.

Individuals

• representing senior individuals (CEO and MLRO) in FCA enforcement proceedings for alleged AML failings and other regulatory breaches

• acting for over 60 individuals in relation to an investigation, by the FCA, into alleged anti-money laundering breaches

• representing individuals in connection with various benchmark investigations (Libor, FX and others)

• conducting an internal investigation into allegations of financial impropriety against the Chief Executive of a well-known financial institution

Payment services

• advising a payment services firm on its anti-money laundering systems and controls, following an FCA visit, and advising on a subsequent VREQ, risk assessments and customer on-boarding procedures

Litigation

• acting for the Bank in Squirrel Ltd v Natwest which was the first reported case under POCA dealing with the conflict between a Bank and a customer when an account is frozen because of suspicions of money laundering

• acting for the Bank in K limited v National Westminster Bank which was the first case where the AML provisions under POCA went to the Court of Appeal

• acting for the bank in the seminal case of Jayesh Shah & Another v HSBC Private Bank in a US$300 million claim brought by two former customers

• successfully representing the Bank and an individual in Jeremy Stone and Jeremy Stone consultants v National Westminster Bank and Paul Aplin where the Bank was accused of being knowingly involved in a Ponzi scheme

• acting for the Bank in N v The Royal Bank of Scotland PLC and in NCA v N and The Royal Bank of Scotland PLC