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Ruth Paley, Of Counsel

Ruth Paley

Of Counsel

Practice areas

  • Financial institutions
  • 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

Formerly at the London Bar where she was ranked in the last three editions of Chambers & Partners, Ruth has developed a highly specialist corporate crime and financial regulatory practice. She is frequently engaged to provide strategic advice and representation to city firms, financial institutions and regulators, with extensive experience in the financial regulatory and compliance sphere.

She acts for a range of multinationals, financial institutions and individual clients. Ruth’s recent experience includes:

  • Conducting an internal investigation for a global organisation 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;
  • Providing detailed advice and assistance to a fund manager in relation to criminal procedure following the discovery of an alleged fraud against the fund;
  • Advising organisations on financial crime compliance in the areas of bribery and corruption, anti-money laundering and fraud and financial crime; and
  • Delivering bespoke training at partner level in relation to Fraud, Financial Crime, Proceeds of Crime Act obligations and associated AML issues.

She is ideally placed to advise on matters that fall at the juncture of crime and regulation, having defended in the early insider dealing case of FSA v Rollins, and conducted many high-profile jury trials including fraudulent trading, fraudulent misrepresentation, construction industry/mortgage fraud and POCA offences.

Ruth is frequently called upon by corporates and individuals to explain all aspects of criminal procedure from early investigation, charge, witness statement procedure, pre-trial hearings, trial, sentence, confiscation and beyond. She is able to deal with the anxieties that may affect those caught up in criminal proceedings (whether as a witness, defendant, or with a peripheral involvement) in a calm and reassuring manner, explaining in straightforward terms what to expect. Her extensive knowledge of criminal law and procedure means that she can work particularly closely with clients to devise effective strategies to manage any such proceedings.

Ruth has also worked with all the major prosecution agencies, recently undertaking a six-month appointment for the FCA as Independent LPP Counsel in respect of various investigations into alleged FSMA offences, s.89 FSA misleading statements, and insider dealing/market abuse. Whilst there she developed a particular specialism in relation to legal professional privilege and the crime/fraud exception. Other engagements include twelve months with the RCPO as counsel to a specialist disclosure review team; with the SFO advising on disclosure in complex fraud cases; an appointment with the Accountancy and Actuarial Discipline Board as counsel investigating an aspect of the Equitable Life affair; prosecuting for FACT and the GSCC; and providing 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. This wealth of experience means that she has an authentic understanding of the prosecutor/regulator’s perspective.