Banking and financial services disputes

The complexity, scale and ever-changing regulatory framework of the financial services industry make disputes inevitable. Penningtons Manches Cooper’s specialist financial services disputes team is well versed in helping organisations navigate these challenges, combining decades of experience with straightforward, outcomes-focused advice.

A deep understanding of sophisticated financial products

Regulatory developments – including the consumer duty, ESG, prudent lending, new benchmarks and other evolving obligations – are at the forefront of today’s concern. We act for and against UK and international retail and investment banks, hedge funds, structured finance providers and fintech entities. Our broad client base has contributed to our deep understanding of the most complex and sophisticated financial products across both retail and wholesale markets.

We have a strong track record in delivering robust and cost effective solutions to investors, lenders and borrowers as well as financial services institutions. Our work spans high-stakes litigation, securities group actions and related financial regulatory proceedings. In recent years, we have seen an increase in fraud claims, sanctions breaches, greenwashing and other ESG-related disputes, privacy and data breach claims, group actions, and funded proceedings.

Members of our team are adept at handling high-profile, ‘bet the company’ type matters, often of an international or cross-border nature. We provide practical, commercial advice tailored to the individual requirements and circumstances of each client, always remaining mindful of timing, reputational and confidentiality issues which they often face.

We encourage clients to engage with us at the earliest possible stage, allowing us to address potential issues before they escalate. Our lawyers are skilled in structuring claims to optimise the chances of early settlement as well as in defending claims with strength and precision.

Penningtons is that unusual combination of a powerhouse of a firm, working on high-profile and intensive cases, but staffed by individuals who are warm and approachable human beings.

In addition to upcoming proceedings, our fully integrated disputes practice advises on dispute strategy and risk management to enhance decision making and reduce future exposure. Where court or regulatory proceedings are unavoidable, we represent our clients’ interests with determination and effectiveness, striving to secure a successful conclusion.

Our international reach enables us to adopt the role of coordinator in complex, cross-jurisdictional matters through long-established links with market-leading overseas law firms and complementary expert service providers. These trusted global connections ensure that, wherever our clients are based, we are fully equipped to safeguard their interests.

How we help our clients

Financial services regulation compliance, investigations and enforcement

Structured finance, derivative and mis-selling claims

Crypto, crypto currency and crypto assets claims

APP fraud and s90 and s90A Financial Services and Markets Act 2000 claims

Investor and securities litigation

Secured and unsecured corporate recovery and insolvency

Loan markets and syndicated lending

Asset finance and leasing disputes

Fraud, asset tracing and recovery

Financial services redress schemes

Anti-money laundering and compliance, sanctions and market abuse

Anti-bribery and corruption advice

Great litigators, who are strategically astute, technically strong and commercial.

Penningtons provides a truly 360-degree service that considers all commercial and regulatory aspects. Strength in depth and a fantastic practice. A brilliant team.

Penningtons Manches Cooper displays a commercial awareness that is second to none.

Highly professional firm willing to take on highly complex cases to deliver justice for their clients.

They’re tough with their opponents, when they need to be and when it serves a purpose (rather than just dialling it up to 11 all the time), but they understand that their clients and colleagues aren’t machines.

Recent work highlights

Substantial unauthorised payments claim

Providing legal counsel to the liquidators of a regulated investment firm in a multi-million pound claim against its payment service provider arising from a series of unauthorised transactions prior to the start of insolvency proceedings.

Recoveries and enforcement advice

Advising an African commercial bank operating in London on strategic recovery actions and enforcement mechanisms, including cross-border asset tracing and debt recovery procedures, to support its efforts in mitigating financial exposure and securing outstanding obligations.

Payment service provider compliance dispute

Representing a leading digital finance company in a complex dispute with its payment service provider involving regulatory compliance issues, contractual obligations and operational risk.

P2P platform set-up advice

Advising a peer-to-peer lending platform on all legal and regulatory aspects of opening for business in the UK, from inception through to authorisation, including structuring, compliance with FCA requirements, and preparing documentation to secure full regulatory approval.

Loan enforcement and fraud advice

Acting for numerous lenders in the enforcement of loans (secured and unsecured), including possession proceedings, enforcement of guarantees and indemnities, and pursuing mortgage fraud, asset-tracing and recovery claims.

Claims for misuse of information

Representing a financial services technology company in a claim against a bank for misuse of confidential information, copyright infringement, conversion, breaches of contract, tortious interference with contractual relations and joint tort feasance through common design.

Commercial operations using Open Banking

Advising a payment services technology provider on the legal and regulatory considerations underpinning its commercial operations, including the implementation of Open Banking frameworks, data-sharing protocols, and compliance with PSD2 requirements to drive innovation.

Appeal against financial support directive

Acting on behalf of a trustee in defending a high-value appeal by a major organization against a financial support directive, involving complex regulatory considerations and strategic litigation to uphold the directive’s validity and protect stakeholder interests.

Multiple claims from SIPP funds loss

Representing SIPP holders in multiple claims arising from the loss of SIPP funds invested into a failed property investment in Portugal to include recovery of compensation from the Financial Services Compensation Scheme.

Ombudsman complaint over investment product

Advising and representing an FCA registered investment management company in successfully resisting a complaint made to the Financial Ombudsman Service, based on alleged mis-selling of a purportedly unsuitable investment product.

FCA conduct breach allegations

Acting for banking clients in relation to complaints to the Financial Ombudsman Service regarding allegedly mis-sold investment products and breach of Conduct of Business rules.