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Shabaz Ahmed


Shabaz specialises in financial services regulatory (contentious and non-contentious) and investigations matters for both corporates and individuals.
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Shabaz is an associate in the Regulatory, Compliance, and Investigations group, with experience of acting in financial services regulatory and investigations matters for both corporates and individuals. Shabaz provides regulatory advice across a range of financial services sub-sectors, including wealth management, investment banking / capital markets, retail banking, mortgages, and consumer credit. His advice covers various topics, including the new investment firms prudential regime, anti-money laundering, the regulatory perimeter, financial promotions, conduct of business, and the Senior Managers and Certification Regime, amongst others.

Shabaz has particular experience in investment banking and capital markets, having undertaken a secondment in the Government Relations & Regulatory Strategy team of the London Stock Exchange Group. Prior to qualifying as a solicitor, Shabaz worked for over 2 years in the regulatory compliance team of Peel Hunt LLP, a well-known mid-cap broking house, covering all aspects of the business. This gave Shabaz a unique insight into capital markets operations, the financial services regulatory framework, and the listing environment. Shabaz's contentious regulatory and investigations practice covers enforcement actions and prosecutions brought by authorities such as the FCA, SFO, and the police, in addition to internal investigations.

Recent Cases

  • Acting for the London branches of two Indian headquartered banks in respect of the UK aspects of an Indian government ordered merger.
  • Acting in the successful defence of a former senior executive of a large British bank in a fraud prosecution brought by the SFO relating to capital raisings during the financial crisis.
  • Voted as Global Investigation Review's "Most Important Case of the Year" in 2020.
  • Acting for a company in the consumer credit sector in a contested FCA authorisation application.
  • Involved from the Minded to Refuse letter to successful outcome at the Regulatory Decisions Committee.


  • Regulatory Enforcement and Privilege – Waiver, Content, Cherry-Picking.
  • Journal of International Banking and Financial Law, Oct 2020 UBS v Rose Capital Ventures : Ltd: Good Faith and Braganza.
  • Journal of International Banking and Financial Law, May 2019 Mis-selling of interest rate hedging products - public law will not aid private law claims.
  • Journal of International Banking and Financial Law, Dec 2018