Stuart Davis

  • Partner
  • Estuart.davis@lw.com
  • 99 Bishopsgate
  • London EC2M 3XF
  • United Kingdom
  • T +44.20.7710.1821
  •  
 

Profile

Stuart Davis is a partner in the London office of Latham & Watkins and a member of the Financial Institutions and Financial Regulatory Practices and the Fintech Industry Group. Mr. Davis has a wide range of experience advising broker-dealers; investment, retail, and private banks; technology companies; market infrastructure providers; investment managers; hedge funds; and private equity funds on complex regulatory challenges.

Mr. Davis counsels clients on the domestic and cross-border regulatory aspects of cutting-edge fintech initiatives, including technology innovations in legislation, market infrastructure, tokenization, trading, clearing and settlement, lending (including crowdfunding), payments, and regulatory surveillance. He also advises financial institutions on the impact of regulatory change on their businesses, including MAR and MiFID II, CASS, CSDR, PSD2, AIFMD, and Brexit, as well as strategically advising on their FX remediation projects, market conduct issues, best execution compliance, systems and controls, and governance.

Mr. Davis is recognised by Chambers FinTech UK 2020 as Up and Coming, Legal 500 UK 2020 as a Next Generation Partner for fintech, was named as a 2019 Rising Star by Law360 in its Fintech category, and was honored by the Lawyer Magazine in the Disruptors section of its Hot 100 2018, an annual report identifying the UK’s “most daring, innovative and creative lawyers”.

Experience

Mr. Davis’ recent highlights have included advising:

  • A number of central banks and governments on drafting substantial financial services, market infrastructure, payments, and fintech legislation
  • A broad range of global investment banks, market infrastructure providers, and technology companies on structuring innovative and efficient technology platforms and/or products, including through the use of blockchain technology, covering areas such as clearing and settlement, netting, and the tokenisation and digitisation of products
  • A national payment system operator on its establishment of a new retail payment system
  • A number of global technology, payments, and media companies on regulatory implications of launching stablecoins
  • eToro on the structuring and launch of eToro Digital Assets, an innovative platform for the tokenisation of assets
  • Nivaura on structuring its regulated custody and issuance platform for the tokenisation of equity, a deal which was highly commended by the FT Innovative Lawyers Awards
  • The World Economic Forum on its blockchain initiatives as part of its Centre for the Fourth Industrial Revolution
  • A broad range of global cryptocurrency exchanges on their compliance with regulatory requirements
  • A range of payment institutions on compliance with payments regulations, including PSD2, SEPA, Wire Transfer Regulations, and AML/KYC requirements
  • A leading Chinese technology company on the expansion of its payments business into Europe
  • A number of financial institutions on the regulatory implications of establishing trading venues or systematic internalisers in the EU
  • A peer-to-peer lending platform on its application to the FCA for Part IV permissions and the launch of new products*
  • StepEx Limited on the structuring and launch of its innovative student finance platform, including its successful application to the FCA for for Part IV permissions
  • A broad range of clients on their implementation of post-financial crisis regulatory reform measures, including MiFID II, MAR, EMIR, CASS, AIFMD, Benchmark Regulation, consumer credit, payments, and mortgage reform
  • A number of international banks and broker-dealers on the impact of Brexit on their businesses and developing contingency plans for the potential restructuring of their EU operations*
  • A leading investment bank on its implementation of the PS14/9 changes to the CASS rules*
  • The group of banks and credit card issuers behind the CPP consumer redress scheme under section 404F(7) of FSMA for mis-sold insurance products, representing the largest consumer redress scheme of its kind involving over seven million customers*
  • A leading private bank on redrafting and simplifying its suite of secured and unsecured wholesale and retail ending documentation, including a complex cross-currency Lombard facility*

*Matter handled prior to joining Latham

Thought Leadership

  • European Commission Publishes Draft Delegated Regulations on ESG Disclosures in Benchmarks -  May 04, 2020
  • FSB Launches Consultation on Global Stablecoins  -  April 29, 2020
  • World Economic Forum Launches First-of-Its-Kind Blockchain Deployment Toolkit -  April 28, 2020
  • New Draft Regulatory Technical Standards Under the EU Benchmarks Regulation -  March 31, 2020
  • Competition and Innovation in the UK’s New Payments Architecture -  March 16, 2020
  • FCA Proposes New Rules on Climate-Related Disclosures by Listed Issuers -  March 12, 2020
  • FCA Calls on Firms to Develop a Purposeful Culture -  March 06, 2020
  • MiFID Refit — Commission Consults on Review of MiFID II Framework -  February 27, 2020
  • ESMA Provides Its Input on the BMR Review -  February 20, 2020
  • AMF Proposals to Revive the Research Industry in France -  February 19, 2020
  • Key Takeaways from ESMA’s recent MiFID Transparency Consultation Papers -  February 14, 2020
  • Sustainable Finance and Climate Change Risk in Financial Services -  February 06, 2020
  • Regulator Raises Concerns Over Alternative Data -  January 31, 2020
  • World Economic Forum Launches CBDC Policy-Maker Toolkit -  January 29, 2020
  • Open Finance: The Next Frontier in Fintech? -  January 22, 2020
  • Third-Country Firms Operating Cross-Border Into the EU — Upcoming Reform -  January 14, 2020
  • Crypto Coming of Age: UK Regulation Hits Cryptoasset Business  -  January 10, 2020
  • Brexit: 10 Commonly Asked Questions -  January 07, 2020
  • A Tipping Point for the Regulation of Cryptoassets in the EU?  -  January 07, 2020
  • FCA Consults on SMCR for Benchmark Administrators -  December 03, 2019
  • ESAs Consult on Amendments to the PRIIPs KID -  November 25, 2019
  • FCA Warns Firms of Conduct Risk During LIBOR Transition -  November 22, 2019
  • Global Legal Insights: Blockchain & Cryptocurrency Regulation 2020 – United Kingdom -  November 18, 2019
  • Financial Institutions and the Cloud: How to Navigate an Evolving Regulatory Landscape -  November 12, 2019
  • The G7 Draws a Line in the Sand for Global Stablecoins -  October 29, 2019
  • Review of the EU Benchmarks Regulation -  October 17, 2019
  • ESMA’s Consultation Paper on the MAR Review -  October 11, 2019
  • Research Unbundling — FCA Finds Rules Working Well -  September 23, 2019
  • Key Emerging Regulatory Issues and Focus Areas for Institutional Asset Managers -  September 19, 2019
  • Latest UK Developments on the Regulation of Cryptoassets -  August 02, 2019
  • FCA Confirms SMCR Optimisations -  July 26, 2019
  • 10 Key Regulatory Focus Areas for UK/European Wholesale Markets in 2019 – Progress Report -  July 02, 2019
  • EU Kicks Off MAR Review -  May 16, 2019
  • FCA Fires Warning Shot to Brokers in Wholesale Markets -  April 30, 2019
  • UK’s Proposed “Online Harms” Compliance and Enforcement Regime Will Target Platforms -  April 10, 2019
  • Will Developments in the UK’s Regulation of Cryptoassets Bring Them Into The Mainstream? -  March 25, 2019
  • Will Regulatory Reform Make Cryptoassets the Next Buyout Boom for Private Equity?  -  March 13, 2019
  • MiFID II Costs and Charges — Room for Improvement -  March 01, 2019
  • Payment Systems Regulator Finalizes Scope of Card Acquiring Market Review  -  February 01, 2019
  • Brexit and Financial Services — FCA Issues Further Guidance for Firms -  February 01, 2019
  • Regulating Crypto-assets and ICOs? ESMA and EBA Consider the Benefits -  January 24, 2019
  • FCA Consults on Further Amendments to the SMCR -  January 23, 2019
  • Brexit and Financial Services — UK Equivalence Decisions -  January 21, 2019
  • European Commission Report on the Operation of the AIFMD -  January 15, 2019
  • Brexit and Financial Services — Temporary Permissions -  December 18, 2018
  • FCA Finalises Changes to its Financial Crime Guide -  December 14, 2018
  • FCA to Clarify Scope of the Client Dealing Function -  November 30, 2018
  • Brexit and Financial Services — Onshoring MiFID II -  November 05, 2018
  • UK Cryptoassets Taskforce Publishes its Final Report -  October 31, 2018
  • Regulation Driving Banking Transformation -  October 23, 2018
  • A New Sheriff in Town? UK MPs Call for Regulation of “Wild West” Crypto-assets  -  September 20, 2018
  • Private Equity and Blockchain: New Infrastructure or New Asset Class?  -  August 30, 2018
  • FCA to Create Global Financial Innovation Network -  August 08, 2018
  • Payment Systems Regulator to Review Card Acquiring Market on Competition Concerns -  August 01, 2018
  • First Details of Brexit Temporary Permissions Regime Published — Key Questions Answered -  July 27, 2018
  • Crypto Utopia -  July 17, 2018
  • Regulators Publish Final Rules on SMCR Extension -  July 04, 2018
  • UK Financial Services Regulators Warn Firms About Risks of Exposure to Crypto-assets  -  July 02, 2018
  • FCA Supports Guidelines on the Open Banking Fall-Back Provisions Exemption -  July 02, 2018
  • The MiFID II Inducements Regime -  May 08, 2018
  • New Kid on the Block – New UK Payment System Operator Takes Over  -  May 02, 2018
  • Cryptocurrencies and Prepaid Cards Face Closer AML Regulation in the EU -  May 01, 2018
  • Commission Publishes Study of EU Market in Retail Investment Products -  April 30, 2018
  • Opening Up Access to UK Payment Schemes -  April 20, 2018
  • Are Your Employees Trading Bitcoin? Addressing Cryptocurrencies in Compliance Policies -  April 13, 2018
  • FCA Statement on Cryptocurrency Derivatives  -  April 06, 2018
  • Next Steps in the Asset Management Market Study -  April 05, 2018
  • FCA Proposes New Guidance on Financial Crime Systems and Controls -  March 28, 2018
  • UK Government’s First FinTech Sector Strategy Launched at the International Fintech Conference -  March 23, 2018
  • Transforming Culture in Financial Services — The FCA Renews Its Approach -  March 16, 2018
  • FCA Sets Expectations on Algorithmic Trading -  February 27, 2018
  • BaFin Publishes Statement on ICO and Token Regulation -  February 27, 2018
  • Swiss Regulator Publishes ICO Guidelines  -  February 23, 2018
  • Global Ambitions for the FCA’s Sandbox -  February 20, 2018
  • What Next for Distributed Ledger Technology? -  December 21, 2017
  • FCA to Take a Closer Look at ICOs -  December 19, 2017
  • Payments Innovation and Competition in Retail Banking Services Stay High on FCA Agenda for 2018 -  December 08, 2017
  • UK Budgets for Fintech Growth -  November 24, 2017
  • ESMA Provides Further Clarity on Initial Coin Offerings in Europe  -  November 22, 2017
  • ECB Announces Support for Fintech Bank Applicants  -  November 20, 2017
  • ESMA Highlights EU Regulatory Rules Applicable to ICOs -  November 17, 2017
  • Regulatory Sandboxes — a Global Stocktake -  November 13, 2017
  • Europe as a Hub for Initial Coin Offerings?  -  November 07, 2017
  • Distributed Ledger Technology in the Financial Market Infrastructure  -  October 27, 2017
  • Coining It In: ICOs As the New Fundraising Paradigm? -  September 05, 2017
  • The (Potentially) Long Arm of the SMCR -  August 24, 2017
  • Bank of England Opens Up Access to Payment Schemes for FinTech Firms  -  July 25, 2017
  • MiFID II – Second Policy Statement and Further Consultation -  July 05, 2017
  • Up into the Clouds?  -  June 22, 2017
  • FCA Regulatory Sandbox Update: Successes in Round One, Application Window for Round Three Open  -  June 16, 2017
  • Banking on IT -  May 26, 2017
  • Bank of England Launches Blueprint on New RTGS Service -  May 16, 2017
  • European Parliament’s Committee on Economic and Monetary Affairs Publishes Fintech Report -  May 14, 2017
  • FCA Launches Discussion on Distributed Ledger Technology -  April 20, 2017
  • Significant Updates to ESMAs Q&A on MiFID II Market Structures -  April 07, 2017
  • FCA’s Latest Papers on the Implementation of MiFID II -  April 03, 2017
  • Blockchain – A New Era for the Energy Market?  -  March 23, 2017
Visit the London Financial Regulatory Portal – A comprehensive resource to help navigate regulatory reforms.
Bar Qualification
  • England and Wales (Solicitor)
Education
  • MA (Hons), University of Cambridge, 2011
  • BA (Hons) Law, University of Cambridge, 2007
Practices
  • Capital Markets
  • Emerging Companies
  • Banking
  • Financial Regulatory
  • Derivatives