Guy Wilkes
Guy is a Partner in the Finance and Banking Disputes Group. He specialises in financial services regulatory disputes and has been involved in some of the FCA and PRA's highest profile investigations into both individuals and institutions. He was formerly a member of the FCA's senior leadership team and had responsibility for developing enforcement strategy, especially in relation to financial crime and anti-money laundering where he chaired the cross-divisional working group. While at the FCA, Guy set up and ran an internal expert group for investigations against senior individuals.
Guy also conducts and advises clients on internal investigations, including those involving senior managers.
His regulatory experience involves a wide range of matters including anti-money laundering and anti-bribery controls, listings rule breaches, conflicts of interest, suitability of investment advice, treatment of customers, client asset rules, market misconduct, competition law and personal culpability of individuals.
Guy's court experience is extensive and includes financial regulatory disputes and civil litigation before the Court of Appeal and Supreme Court.
Legal 500 notes that Guy has "considerable experience of corporate financial crime particularly involving the financial services sector".
Guy is a member of the Law Society's Money Laundering Task Force and is a regular media commentator on Financial Services Regulatory matters.
Practice Area
Panel
- Consulting Editorial Board
4 Contributions by Guy Wilkes
PRACTICE NOTES
FCA and PRA information-gathering, confidentiality and Treasury disclosure gateways under FSMA 2000 (UK): powers, overseas co-operation and protected (privileged) items
The Financial Services Enforcement Database
The Financial Services Enforcement Database contains comprehensive details of every substantive FCA and PRA Final Notice and, when published, Decision Notices dating back to 2014. Users can search and refine the Database by rule breach, keyword, sector, date, seriousness, aggravating and mitigating factors, level of financial penalty, and further measures, including referrals to the Upper Tribunal. Under the Financial Services and Markets Act 2000 (FSMA 2000), the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) hold a range of powers to gather information for supervisory and enforcement purposes. This Practice Note outlines the FCA’s information‑gathering powers and the limits placed on the disclosure and use of material obtained. These include powers in FSMA 2000, ss 165–169, enabling the regulators to compel firms to supply information and reports, appoint investigators, and support overseas regulators. The PRA also has a further power under FSMA 2000, s 165A, to demand information held by investment funds where it may bear on the stability of UK financial markets. For fuller guidance, see Practice Note: FCA and PRA disclosure issues—essentials. This Practice Note sets out the rules that govern the disclosure of confidential information, its use and handling, and related restrictions within enforcement, privileged...
Financial Services
PRACTICE NOTES
FCA/PRA investigations: confidentiality, privilege, disclosure duties (including Seiler reforms), third-party and overseas sharing, publication of notices, and firms’ and auditors’ notification obligations under FSMA, PRIN and PRA Rules
The Financial Services Enforcement Database
The Financial Services Enforcement Database brings together comprehensive details of all substantive FCA and PRA Final Notices and, where available, Decision Notices, from 2014 onwards. Searches can be tailored and refined by:
rule breach
keyword
sector
date
seriousness
aggravating and mitigating factors
financial penalty
other actions, such as referrals to the Upper Tribunal
This Practice Note addresses disclosure matters that may arise during an investigation conducted by the Financial Conduct Authority (FCA) or the Prudential Regulation Authority (PRA). It explains the rules governing disclosure of confidential information, privileged and protected material, and the circumstances for sharing with third parties, including overseas regulators and potential litigants. It also sets out the regulators’ duties to provide materials gathered during an investigation to the subject under scrutiny and to those with third‑party rights. In addition, it considers changes to the FCA’s disclosure procedures adopted following criticisms by the Upper Tribunal in Seiler v FCA. Finally, it covers both general and specific obligations on firms (and auditors) to notify the regulator of rule breaches or other misconduct, and the consequences of failing to notify. For a high‑level overview, see Practice...
Financial Services
PRACTICE NOTES
Financial services references to the Upper Tribunal (Tax and Chancery Chamber): procedure, powers, disciplinary and non‑disciplinary references, expedited route, applications, appeals and third party rights
The Financial Services Enforcement Database
The Financial Services Enforcement Database brings together comprehensive details on substantive Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) Final Notices and, where obtainable, Decision Notices, covering 2014 onwards. The Database can be searched and refined by fields including rule/legislation breach, keyword, sector, date, financial penalty, facets of financial penalty analysis, outcomes such as redress and prohibition orders, and further actions like referrals to the Upper Tribunal. This Practice Note sets out the law and process for making a reference to the Upper Tribunal (Tax and Chancery Chamber) following a disciplinary or non-disciplinary decision of the FCA or the PRA; including decisions on restrictions, financial penalties and prohibition orders under the Financial Services and Markets Act 2000 (FSMA 2000), and the FCA’s registration of cryptoasset firms under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692 (MLRs). It addresses the Upper Tribunal’s role and scope of its powers when determining references in financial services matters. The Upper Tribunal also has jurisdiction to hear appeals against decisions of other lower tribunals, chambers and regulators. Such appeals fall entirely outside the scope of this Practice Note...
Financial Services
PRACTICE NOTES
Financial services references: time extensions, suspension of regulatory decisions, privacy and costs applications in the UK Upper Tribunal (Tax and Chancery Chamber)
Lexis+® UK Financial Services FCA/PRA Enforcement Database:
Brings together comprehensive details of all substantive FCA and PRA Final Notices and, where obtainable, Decision Notices from 2014 onwards. The Database, available here, can be queried and refined by rule contravention, keyword, sector, date, severity, aggravating and mitigating factors, financial penalties, and further outcomes such as referrals to the Upper Tribunal. This Practice Note reviews applications to the Upper Tribunal (Tax and Chancery Chamber) under Rules 5, 10, 14 and 37 of the Tribunal Procedure (Upper Tribunal) Rules 2008, SI 2008/2698. In particular, it covers bids to suspend the effect of a regulator’s decision, and applications concerning privacy, extensions of time and costs, with pertinent case law. For guidance on the law and procedure for making a reference to the Upper Tribunal following a disciplinary or non-disciplinary decision of the FCA or the PRA, see Practice Note: Financial services: references to the Upper Tribunal (Tax and Chancery Chamber). This Practice Note also addresses determinations relating to financial penalties and prohibition orders under the Financial Services and Markets Act 2000 (FSMA 2000) and the FCA’s registration of cryptoasset firms under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer)...
Financial Services
If you expected to see yourself on this page, click here.
