Clare Baker

My work

My recent work includes:

  • Client confidential [2020] – advised client as to whether an entity set up to take advantage of an artificial intelligence (AI) data service required FCA authorisation for any of the activities it proposed and whether the company providing the AI data service required FCA authorisation
  • Client confidential [2019 – 2020] – advised an investment company in relation to claims against a peer to peer asset based lender for losses suffered when borrowers defaulted on loans.  Advised on potential regulatory and civil claims.  Detailed consideration of duties of peer to peer and business to business lenders. Drafted letter before action resulted in successful settlement negotiation with defendant.
  • Hussain v Hussain [2019] – advised the Claimant regarding recovery of compensation from the Financial Services Compensation Scheme (FSCS) in relation to a personal injury claim to be brought against the Defendant in a situation where the Defendant’s insurer was insolvent.  Advised on Prudential Regulation Authority rules regarding recovery of compensation from the FSCS
  • Client confidential [2019] – advised a company in relation to its bridging loan broking business and whether it was operating a collective investment scheme. Advice involved detailed consideration of the rules regarding collective investment schemes; the FCA Perimeter and how best to re-structure the business to ensure compliance with the FCA Rules
  • Client confidential [2019] – advised a lender in relation to whether loans made and secured by way of a legal charge were within the FCA’s regulatory perimeter; enforceability of the loan documentation; and prospects of success of a claim for judgment against the defendants
  • Client confidential [2019] – acted for an investment company in claims against a broker/investment manager for losses suffered resulting from a £1m private equity investment. Detailed consideration of potential civil and regulatory claims, including bringing a Financial Ombudsman complaint. Advised on duties of private equity firm, including whether FCA compliance obligations had been satisfied
  • Client confidential [2019] – advised on issues arising from the client’s application for authorisation to the FCA. Advised on FCA rules regarding fitness and propriety; response to queries from the FCA; and the client’s subsequent revised application to the FCA for authorisation
  • NatWest/GRG [2018 – 2020] – advised the Independent Third Party in appeals resulting from complaints against NatWest GRG
  • FCA [2014] – [2018] – drafting FCA rules relating to the consumer credit regime and the claims management regime
  • Client confidential [2017] – advising a car leasing business on the sale of future lease receivables to a finance company and the relevant FCA authorisation requirements
  • Client confidential [2016] – advising a SPV on whether its property investment activities amounted to operation of a collective investment scheme or alternative investment fund and other activities that might fall within the FCA perimeter
  • Client confidential [2016] – advising a fund as to its operation of a collective investment scheme or alternative investment fund and relevant exemptions to the FCA rules
  • Client confidential [2015] – advising a property company on the enforceability of a loan agreement made by an unauthorised firm
  • Client confidential [2014] – advising an independent sales organisation on whether its card processing and leasing activities fell within the FCA consumer credit regime
  • Client confidential [2014] – advising an investment management company on a variety of issues, including its obligations to investors under the FCA rules, the use of unauthorised introducers of business, and compliance with the Bribery Act
  • FCA [2013] – advising the FCA on various issues including the Payment Services Regulations 2009 and its information and document gathering powers

About me

Prior to transferring to the Bar in 2007, I was a solicitor in Simmons & Simmons’ Finance and Insurance Litigation department and a hedge funds, prime brokerage and structured products lawyer at UBS Investment Bank.  As a result I have an understanding of financial markets that is unusual at the Bar.

Professional & academic

I was educated at Pembroke College, Cambridge University (2:1 Law) and the Oxford Institute of Legal Practice (Distinction).

I have co-authored Butterworths Financial Regulations Services; Lissack and Horlick on Bribery; Atkins Pensions Vol 31(1) and am a member of the Chancery Bar Association, Commercial Law Bar Association and the Financial Services Lawyers Association.

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