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About Piers Reynolds

Piers is Head of our London financial disputes practice, and has amassed extensive experience advising financial institutions in litigation and regulatory investigations.  Piers acts for a wide range of investment banks, wealth managers, retail banks, asset managers, insurers and reinsurers, investment funds, brokers, specialist finance providers, payment service providers, stock exchanges and clearing houses, financial advisers, professional services firms, and other corporates, in the UK and elsewhere.

His contentious regulatory experience includes advising on numerous Financial Conduct Authority thematic, s.166 and enforcement investigations.  Piers has also assisted clients during investigations by, and disputes with, the UK's Financial Reporting Council, Office of Fair Trading, Serious Fraud Office and HM Revenue and Customs, along with the European Commission and overseas regulators, which have involved some of the largest ever fines imposed by the authorities.  His civil litigation experience includes cases involving mis-selling, and derivatives and inter-creditor disputes, often with multijurisdictional dimensions.

Having been seconded to a number of financial institutions, Piers provides practical advice that reflects the legal, regulatory, commercial and practical issues that such institutions face.  Piers is also involved in mentoring lawyers at Freshfields and at client organisations, and has recently done the same for a legal project manager in the business services function.  He mentors internal talent from diverse backgrounds (ethnic, gender and other diversity), and has been a mentor on the Stephen Lawrence scholarship scheme.

Recent work

  • Acting for a global wealth manager in relation to a UK Financial Conduct Authority enforcement investigation into systems and controls surrounding the suitability of sales of investment products.
  • Acting for a global investment bank in relation to High Court litigation concerning a credit default swap linked to a collateralised debt obligation under an International Swaps and Derivatives Association master agreement.
  • Acting for a global wealth manager in an enforcement investigation by the Dubai Financial Services Authority into regulatory perimeter issues. 
  • Acting for a global bank in relation to cross-border market abuse investigations and related employee and other legal issues.
  • Acting for a major insurance provider in a Part 8 claim for a declaration on the construction of a with-profits insurance policy.



  • York University, UK (politics, philosophy and economics)
  • College of Law, York (CPE and LPC)


  • Journal of International Banking Law and Regulation, 2014 Selling Financial Products: The Interface Between Regulatory and Common Law Standards

  • Journal of International Banking Law and Regulation, 2018 Non-advised Sales of Financial Products: An End to Caveat Emptor?

  • Journal of International Banking and Financial Law, 2023 New challenges for tackling Authorised Push Payment fraud

  • The Law Quarterly Review Case summary of Philipp v Barclays decision