Tony Katz
Tony Katz is Head of Financial Services and Investigations at DLA Piper and he focuses on regulatory work (both advisory and contentious) for financial institutions and global investigations. He advises leading financial institutions, banks, funds, brokers, trading firms, payment services and other financial services firms on a range of advisory and contentious issues.
Tony has deep experience in contentious matters, including regulatory and exchange investigations in the UK, EU, the US and Asia.
He also has extensive experience in conducting cross-border internal investigations and advises specifically on the UK Bribery Act including advising on Section 7, Adequate procedures' defence and drafting adequate procedures for clients.
Prior to joining DLA Piper in 2014, Tony was partner at Orrick, Herrington and Sutcliffe; in the Financial Institution Regulatory practice, and a member of the European Litigation Group. He was also Group Head of Compliance at the Liquid Capital Group, the global options market making firm. He began his legal career in South Africa at Edward Nathan Sonnenbergs and then practiced in London with Slaughter and May for six years. He served for four years at the Financial Services Authority, the regulator of the financial services industry in the United Kingdom, as a Manager in the Retail Policy and Conduct Risk Division.
Practice Area
Panels
- Consulting Editorial Board
- Contributing Author
Qualification
- B.Bus.Sc., (Hons), University of Cape Town, Bachelor of Laws, University of Cape Town
2 Contributions by Tony Katz
PRACTICE NOTES
Cryptoassets: economic benefits, operational limits, and legal/regulatory risks—consumer protection, AML/CTF, security, volatility and environmental impact
What are cryptoassets?
One difficulty in grasping non-traditional money and assets is the inconsistent terminology. Regulators, tax bodies and commentators speak of digital currencies, virtual currencies, cryptocurrencies, cryptoassets and crypto tokens, and it is often uncertain whether the labels are being swapped freely or used with their distinct meanings in mind. For definitions, see Practice Note: Web 3.0, digital assets and cryptoassets—essentials. That Practice Note considers the benefits and drawbacks of using cryptoassets. A range of advantages helps explain their rapid rise in popularity, but these must be weighed against risks inherent in the cryptoasset.
Pros of cryptoassets
Below are some of the advantages of cryptoassets (notably when used as a fiat currency substitute):
lower transaction costs compared with transfers of real currency and assets
transparent costs and charges—hidden fees and extra charges common in other online payment methods are absent in Bitcoin transactions
contribution to the economy and access to markets that were historically inaccessible
quicker, more efficient processing of...
Financial Services
PRACTICE NOTES
United Kingdom implementation of the EU Consumer Credit Directive: CCA 1974 amendments, key obligations and rights, implementing regulations, transition to FCA CONC, and post-Brexit position
Introduction
Directive 2008/48/EC concerning credit agreements for consumers (the Consumer Credit Directive) was adopted by the European Parliament on 23 April 2008, with EU Member States obliged to implement it in domestic legislation by 12 June 2010. Its central aim was to secure a high standard of consumer protection to strengthen consumer confidence, facilitate the cross-border provision of credit and correct competitive imbalances stemming from divergent national consumer credit laws. On 15 November 2011, Directive 2011/90/EU, which amends Part II of Annex I to the Consumer Credit Directive, appeared in the Official Journal of the European Union (OJ). This measure introduces further assumptions for calculating the annual percentage rate of charge (APR). Member States were required to apply the rules in Directive 2011/90/EU by 31 December 2012. In the UK, the Consumer Credit Directive was given effect through several statutory instruments amending the Consumer Credit Act 1974 (CCA 74), with most provisions becoming compulsory from 1 February 2011. Directive 2011/90/EU was implemented in the UK by revising one of those instruments...
Financial Services
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