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Ruth Paley, Legal Director

Ruth Paley

Legal Director

Practice areas

  • Financial services
  • Financial services and markets regulation
  • Financial services disputes and investigations
  • Fraud and financial crime
  • Inquiries and investigations
  • Litigation and dispute management
  • Regulatory investigations and enforcement

Practice notes

‘One of the leading names in anti-money laundering work in London, with a depth of knowledge few in the City have’ [Legal 500 2021]

Ruth is a Legal Director in our Corporate Crime and Investigations team. She is ranked in Legal 500 2021 as a key lawyer in risk advisory, regulatory investigations and corporate crime. As a financial crime subject matter expert, she enjoys particular expertise in matters involving all aspects of white collar crime and fraud, with a focus on advising a range of multinationals, financial institutions and individuals on compliance with the UK anti-money laundering (AML) regime including POCA 2002 and MLR 2017.

She has extensive experience in both criminal and regulatory investigations and enforcement, frequently leading on large AML advisory and remediation projects, often advising individuals and corporates as to potential criminal and civil exposure. Recent work includes:

  • Advising an overseas bank under investigation by the Financial Conduct Authority into allegations of money laundering and AML systems and controls failings;
  • Conducting an internal investigation for a global corporation following intervention by OLAF, the European Anti-Fraud Agency;
  • Acting for a global trading platform client in respect of Financial Conduct Authority and City of London Police investigations;
  • Leading the regulatory project team in a section 166 investigation for a global financial institution in the Middle East, involving complex issues of corporate governance, risk management and AML;
  • Negotiating one of the first settlements under the new enforcement procedures of the European Bank of Reconstruction and Development;
  • Advising a senior individual at a major financial institution in preparation for interviews under caution at the Serious Fraud Office;

Ruth is one of the firm’s most experienced corporate crime lawyers, having spent twelve years at the London Bar conducting heavyweight fraud and financial crime defence jury trials. She also has extensive prosecution experience including repeat engagements as Independent LPP Counsel at the FCA in respect of various investigations into alleged FSMA offences; a year at RCPO as counsel to a specialist disclosure review team; advising the SFO on disclosure in complex fraud cases; working with the Accountancy and Actuarial Discipline Board on the Equitable Life affair, and a providing specialist advice on sufficiency of evidence for the Crown Prosecution Service as a Grade III prosecutor and former CPS specialist panel advocate for the Serious and Organised Criminal, POCA, Fraud and Rape lists.

Ruth has authored chapters for various AML practitioner textbooks including the main chapter on Money Laundering Regulation and SARs in the new edition of the leading text Lissack and Horlick on Bribery. She provides financial crime training to financial institution clients, including at board level. She is regularly quoted in the national and trade press including The Financial Times, The Times, Lexis Nexis and Global Investigations Review, and has published numerous articles covering AML, compliance and financial crime developments.