Carl Fernandes is a partner in the London office of Latham & Watkins and a member of the Financial Institutions Group. Mr. Fernandes has over 20 years of experience in London, Hong Kong, and Australia advising a wide range of financial services clients, spanning all key sub-sectors, including multi-disciplinary investment banks, broker-dealers, custodians, asset managers and private banks.
Mr. Fernandes advises on a broad range of complex regulatory issues, with a particular focus on the scope of licensing requirements in the context of cross-border business, the full range of wholesale market conduct requirements and restrictions, and the design, development, and implementation of systems and controls to manage these regulatory risks.
Mr. Fernandes provides advice on these issues in a wide variety of contexts, including influencing and implementing regulatory reform, supporting clients through intense supervisory or enforcement interactions with regulators, and conducting due diligence and structuring acquisitions or disposals of regulated businesses.
Mr. Fernandes' experience has included advising:
- A number of global investment banks and asset managers on the implementation of MiFID, MAR, BMR and EMIR
- A number of global investment banks and asset managers on various aspects of the development of their Brexit contingency plans
- Internal reorganizations of regulated groups arising out of recovery and resolution planning and/or regulatory capital optimization
- A wide range of CASS issues both in the context of an FCA enforcement investigation and separately in supporting a firm through a wide-ranging s166 review
- A global investment bank in relation to both an internal investigation and also several foreign regulatory investigations into alleged market manipulation on a foreign stock and futures exchange
- A global investment bank in relation to the restructuring of local governance arrangements at its UK subsidiary to best meet both regulatory expectations and the commercial dynamics influencing the role of the subsidiary in the global business plans
- A material acquisition and disposal of regulated businesses at the asset and liability level, requiring an intricate analysis of regulatory risks and requirements arising out of each option for legally effecting the transfers