Visit the London Financial Regulatory Portal – A comprehensive resource to help navigate regulatory reforms.


Mr. Berman is regarded as “incredibly knowledgeable and well respected in the area, thanks to his wealth of experience, excellent judgment and the way he brings real energy to a team on large cases. He is very much in demand for his incisive, pragmatic and friendly approach.” – Chambers UK 2017

Mr. Berman's “background in the industry helps him really understand the regulatory requirements of firms from an experienced perspective.” – Chambers UK 2016

David Berman

London
  • 99 Bishopsgate
  • London EC2M 3XF
  • United Kingdom
 
 

David Berman advises a variety of financial and other institutions on key regulatory/compliance matters, and frequently counsels boards and senior management teams on significant regulatory issues. Mr. Berman specializes in tactical/strategic issue prevention and containment and resolution — with a view to optimizing a client’s position vis-à-vis the regulatory authorities. Mr. Berman advises extensively on a wide spectrum of issues, including market conduct, culture and conduct, individual accountability, governance, conflicts of interest, inducements, regulatory aspects of transactions, remediation and redress exercises, and conduct of business regulation generally.

Mr. Berman is ranked as a Leading Individual by The Legal 500 and provides “a very commercial service.” He is acclaimed by clients as “a great tactician and strategist: he sees the traps and helps you steer your way around them, while always retaining an invaluable sense of perspective.”

Mr. Berman has recently authored books entitled Senior Individual Accountability in the Financial Services Arena – A Practical Guide, Thomson Reuters, 2017, and Individual Accountability Under the Senior Managers Regime - A Practical Guide, Thomson Reuters, 2016.

Mr. Berman’s representative clients include:

  • Institutional investment managers
  • Integrated investment banks
  • Central banks
  • Hedge funds
  • Private equity houses
  • Stockbroking firms
  • Corporate finance advisers
  • Inter-dealer brokers
  • Credit funds
  • Sovereign wealth funds
  • Financial institution boards and senior management teams
  • Consumer credit firms
  • E-money issuers
  • Clearing banks
  • Corporates

Mr. Berman’s recent experience includes advising:

  • A national central bank on the formulation of a new banking law / regulatory regime
  • A prominent regulatory authority in relation to the investigation of a number of banks for suspected malpractice / governance failings
  • Several institutions (including their respective boards and senior management teams) on their approach to, and implementation of, the Senior Managers and Certification Regime
  • A "blue-chip" financial institution on its response to a series of identified (and potentially serious) regulatory issues and successfully navigating a course to a "no further action" confirmation from the regulator
  • Several institutions on market conduct investigations
  • A leading hedge fund on an investigation into potentially significant compliance breaches*
  • A large financial institution on a firm-wide (and high-profile) culture review and assessment
  • A prominent consumer credit firm on its (successful) response to significant regulatory issues and industry developments*
  • An inter-dealer broker on an internal systems and controls review*
  • A large institutional asset manager on a comprehensive review of its entire suite of compliance/AML policies and procedures*
  • As a "skilled person" (pursuant to s.166 FSMA 2000), on behalf of two major clearing banks, in relation to the largest and most complex such review undertaken to date (involving the sale of interest rate hedging products)*
  • A “blue chip” financial institution on an in-depth internal “systems and controls” investigation*
  • A leading investment manager on an internal investigation relating to potential market misconduct*
  • A high-profile financial institution acting as a "shadow skilled person"*
  • A prominent stockbroking firm on a comprehensive governance review*
  • An integrated international investment bank on complex client money / assets issues (including undertaking an independent review)*
  • A listed “blue chip” institution on a comprehensive conflicts of interest review*
  • An international investment bank on an internal investigation relating to potential market misconduct*
  • Numerous institutions on their preparation for, and response to feedback following, regulatory (supervisory or thematic) visits*
  • A sovereign wealth fund on market conduct related issues and “ring-fencing” proposals*

*Matter handled prior to joining Latham

Mr. Berman also delivers practical training to clients (both front and back-office), including in relation to:

  • Market conduct
  • Senior individual accountability
  • Conflicts of interest
  • Use of dealing commissions
  • Keeping the regulator at bay
  • Regulatory refreshers / updates
  • Fund governance
  • S.166 insight
  • Culture and conduct risk
  • Current UKLA expectations of sponsors

 Publications and Lectures

  • Author, “Senior Individual Accountability in the UK Financial Services Regulatory Environment – A Practical Guide,” Thomson Reuters, November 2014
  • Author, “Individual Accountability Under the Senior Managers Regime – A Practical Guide,” Thomson Reuters, February 2016
  • Mr. Berman has authored numerous articles and blogs on key areas of regulatory focus – including, market conduct, culture, and individual accountability
  • Mr. Berman is consulted extensively by industry bodies for his specialist knowledge, insight, and prior in-house experience
  • Mr. Berman is frequently quoted as a leading regulatory authority in the mainstream press and industry journals
 
 
 
Notice: We appreciate your interest in Latham & Watkins. If your inquiry relates to a legal matter and you are not already a current client of the firm, please do not transmit any confidential information to us. Before taking on a representation, we must determine whether we are in a position to assist you and agree on the terms and conditions of engagement with you. Until we have completed such steps, we will not be deemed to have a lawyer-client relationship with you, and will have no duty to keep confidential the information we receive from you. Thank you for your understanding.