Associate, Finance Regulatory
Ashurst is a leading global law firm with a history spanning almost 200 years, and a clear strategy for our future growth. Our in-depth understanding of our clients and commitment to providing exceptional standards of service have seen us become a trusted adviser to local and global corporates, financial institutions and governments in all areas of commercial law. To find out more please visit here.
In order to comply with regulatory and client requirements, Ashurst will undertake appropriate vetting of staff. When applicants accept a job offer, Ashurst, alongside a specialist provider, will undertake professional verification and background checks. These checks are only undertaken with consent, and in accordance with our legal and regulatory obligations.
Do you want to be part of a close-knit, collaborative, entrepreneurial team that is growing rapidly and working for many of the leading banks, investment firms, fund managers, Governments and fintech firms on innovative, complex and multi-jurisdictional financial regulatory matters? Then look no further.
Ashurst recognises the importance of the regulatory team in its own right and as a key part of other practice areas. The firm is committed to growing and developing its regulatory team, giving ambitious, entrepreneurial associates an exciting career path.
Ashurst has a strong financial regulation practice globally. London and Sydney are the firm's most prominent offices in terms of their strength and numbers in this area. The firm also has dedicated, expert financial regulatory partners in Hong Kong, Tokyo, Beijing, Washington, Frankfurt, Paris, Luxembourg and Madrid. There are also contentious partners in these jurisdictions which the regulatory team works with closely.
The Financial Regulation Team acts for a variety of global banks, investment banks, fund managers, clearing houses, FinTech companies, government entities, insurers and other FCA and PRA regulated firms.
Typical work includes:
- Large scale regulatory change projects, such as Brexit, MiFID II implementation, IBOR transition, SMCR, IFD/R, cross-border jurisdictional advice and much more.
- Working as part of our Global FinTech Practice to establish new regulated FinTech businesses - engaging with the whole regulatory process from perimeter advice and new authorisations, to ongoing compliance. Clients range from Blue Chip, global banks to ICO issuers and cryptocurrencies
- Advising Tier 1 banks on digital transformation projects and new digital / FinTech offerings
- Engaging with some of the largest European and US fund managers on AIFMD, the Cross Border Distribution of Funds package, new fund manager authorisations and marketing funds throughout Europe
- Assisting with internal reviews, enforcement action, s166 reports and market abuse issues for major global banks and investment firms
- Advising major global banks on all aspects of MiFID II, with a strong client base on buy side, sell side and market infrastructure
- Working with the first firms subject to the Senior Managers Regime to build effective policies and educate senior managers on their obligations, and continuing to advise other firms on the extension of the Senior Manager's Regime
- Acting as trusted advisors to a number of market operators including regular advice on MiFID II rules
- Working on industry bodies and regulators to help shape market practice and lobby for effective regulation.
We also host monthly "regulatory breakfasts", roundtables and other events to help inform clients of upcoming regulatory changes, recent enforcement action and changes to market best practice. Associates are encouraged to present on topics to audiences of over hundred people. Our associates and partners are often quoted in industry journals, mainstream media and in television and radio programmes.
The Financial Regulatory Team is a pivotal and rapidly growing part of Ashurst in London and around the globe. The team is highly energetic, cohesive and supportive. We encourage independent thinking. This is an excellent opportunity, working among leading individuals for globally recognised clients. The team prides itself on commercially sensible and pragmatic advice to clients. Our clients expect us to come up with risk based solutions and we are looking for someone who this appeals to.
The team has a very flat structure - partner and senior support is always available, but associates are given the autonomy to progress matters, build relationships with clients and become trusted advisors in their own right. Associates are encouraged to work collaboratively with the whole team. Work is allocated in a manner that allows associates to specialise in areas of interest, as well as gaining broad experience. We represent clients across the financial ecosystem, allowing you to get an understanding of the bigger picture.
We are currently looking for a mid-level Associate.
Essential skills and experience:
- Post qualification experience of financial services regulatory work
- Experience of applying various EU and UK legislation to financial services clients
- The ability to pragmatically apply law and guidance to the needs of clients and explain possible solutions and the implications
- An up-to-date knowledge of major regulatory developments and the ability to keep abreast of regulatory change and proactively engage with new and proposed legislation
- A genuine interest in the financial markets and how they operate
- The ability to communicate clearly with clients in effective ways
The following represents a selection of our recent work:
- Advising numerous firms on Brexit planning and continued market access
- Advising several global banks on the launch of new digital banking platforms
- Advising on the global launch of a stablecoin and numerous cryptoasset mandates
- Advising on the establishment of digital crypto exchanges under MiFID II
- Advising banks and investment firms on prudential requirements and the IFD/R
- Advising numerous UK and US based fund managers on the AIFMD regime and upcoming Cross Border Distribution of Funds package
- Numerous banks and payment service providers on their obligations under the Payment Services Regulations
- FCA authorisations for digital banks, payment providers, e-money firm, crypto service providers, fund managers, investment firms and more.
- A major broker facing FCA disciplinary action
- A major insurer facing FCA disciplinary action
- Several major financial institutions in relation to investigations into the setting of LIBOR by the FCA, the European Commission, the SEC and the CFTC
- Individuals in relation to insider dealing and market manipulation accusations
- Advising multiple firms on the Senior Managers Regime
- UK retail bank on the transfer of outsourced functions within the EU
We currently advise and work with 8 of the top 10 investment banks as well as many other top ranked retail banks.
An established Associate Career Path Framework is in place clearly defining expectations and outlining opportunities for promotion.
Opportunities often arise for associates to spend time on secondment in house with a key client of the firm. From time to time, secondment opportunities also come up within other Ashurst offices in Europe, North America, Asia and Australia.