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About David Scott

David, a former head of the firm’s global dispute resolution practice, has over 25 years’ experience acting on and resolving complex, high-profile disputes. He has worked on dozens of matters, both litigation and regulatory proceedings, and often leads on the firm’s most high-value, high-profile and difficult cases.

He is praised for his shrewd understanding of the principles, rules and regulations and the workings of the supervisory and enforcement teams at the FCA, which enables him to produce creative, pragmatic solutions and manage clients’ risk in an increasingly challenged regulatory environment.

David specialises in banking and financial services litigation and regulatory proceedings, and acts on a wide range of disputes for banks, insurance companies, asset managers and other financial institutions.

For many years, David has been particularly active in all aspects of the retail market, handling numerous high profile enforcement cases in relation to the various different products that have been associated with “scandals” over the years. This practice has involved David advising on all aspects of the FCA’s enforcement process, including proceedings before the Regulatory Decisions Committee and the Upper Tribunal.

David’s exceptional experience and his easy ability to work with others has often led to David working alongside other law firms, as well as accounting firms and other advisory firms to ensure the client has “holistic” advice that considers the issues arising.

Recent work

  • Advising on mass litigation in the Courts in relation to various financial products.
  • Advising on financial crime issues, including data security incidents and issues relating to possible bribery and corruption overseas.
  • Advising several fund managers involved in the FSA’s investigations into the split capital investment trust industry, which resulted in the first ever ‘no fault’ settlement with the firms that established a compensation fund for certain retail investors.
  • Advising an investment bank subject to several claims brought in the High Court against its PWM division relating to the sale and subsequent performance of one of its equity products.
  • Advising on a wide variety of litigation issues and regulatory investigations, including insider dealing, market manipulation, and claims by investors and bondholders.
  • Advising Alliance & Leicester on the investigation and subsequent enforcement action by the Financial Services Authority (FSA, the forerunner to the Financial Conduct Authority) in relation to its telephone sales of payment protection insurance (PPI). This case was subsequently settled on terms acceptable to Alliance & Leicester and its new parent.
  • Advising Legal & General in Financial Services and Markets Tribunal proceedings against the FSA in relation to the sale of mortgage-linked endowment policies during the late 1990s.
  • Pensions
  • Endowment mortgage products
  • Capital interest trusts
  • Packaged accounts
  • Payment protection insurance
  • With-profit funds