Rundle_David

David Rundle

David Rundle is a financial crime and regulatory enforcement lawyer. He represents individuals and companies under investigation by the Financial Conduct Authority (FCA), Prudential Regulatory Authority (PRA), and Serious Fraud Office (SFO).  

Mr. Rundle is recognized as “Up and coming” by Chambers UK and as a “Rising Star” by Legal 500 UK.  

Previously, Mr. Rundle worked at the Enforcement Division of the FCA, through which, as clients note, he has developed “an excellent perspective of the regulator.” Many of his clients are Senior Managers, under investigation for alleged failures of responsibility and oversight. 

He also provides regulatory and anti-money laundering advice across the regulated sector. 

He is UK/US dual qualified, having been called to the Bar of England and Wales and admitted to practice in New York.  

He regularly acts in pro bono matters and has assisted several clients to intervene in Supreme Court cases (e.g. R (Elgizouli) v. Secretary of State for the Home Department).

Professional Activities

He is a member of the Fraud Lawyers Association, the Financial Services Lawyers Association and the Criminal Bar Association.

He is a supporter of Reprieve and the Howard League for Penal Reform.

Experience

  • Financial Services Regulatory Enforcement

    Current and recent clients include:

    Market misconduct cases:

    • Short-seller fund responding to allegations of market misconduct.
    • International Financial institution in connection with a multi-jurisdictional insider dealing probe.
    • European government bond futures trader under investigation by the FCA for alleged spoofing market abuse.
    • Metals derivative trader investigated for insider dealing. The matter was discontinued after interview.

    Senior Managers Regime (SMR) cases:

    • The ex-Chairman of the UK arm of a foreign banking Group in relation to allegations that he failed to be open and cooperative with the PRA.
    • The Head of Compliance of a major UK bank in an FCA investigation concerning the control of information.
    • The CEO of the UK branch of a foreign bank in an FCA investigation looking into the firm’s money laundering compliance framework.

    Other:

    • An individual under investigation by the FCA for alleged failures to exercise due skill, care and diligence and to be open and cooperative with the regulator. The context of the case related to the bank’s certification processes under the Senior Managers and Certification Regime (SMCR). The investigation was discontinued.
    • The head of the wealth and investment arm of a major UK bank, for an alleged failure to exercise due skill, care and diligence. The matter was discontinued after interview.
    • Ex-members of the FSA's senior management who were interested individuals in the Bank of England's investigation into the collapse of HBOS, and the adequacy of the FSA's enforcement response.
  • Serious Fraud Office Investigations

    Current and recent clients include:

    • CEO investigated in connection with the Unaoil bribery probe.
    • Individual under investigation in relation to Serco’s alleged fraud of the UK Government, through its contract to provide electronic monitoring services.
    • An alleged co-conspirator in the EURIBOR manipulation.
    • An individual in the Barclays’ capital raising investigation.
  • Money Laundering Advisory

    Representative work includes:

    • Advising the regulated sector, including the art market, on the implications of the 5th Money Laundering Directive.
    • Advising parent companies on the implications of Regulation 19 of the Regulations.
    • The scope and application of section 330 POCA (failure to disclose in the regulated sector). 
    • The potential liability under POCA and the Regulations in relation to cannabis business.
     

Recognition

  • Named an "Up and Coming" individual in the Financial Services: Contentious Regulatory category in Chambers UK 2020. A client notes that he is "good at asking the right questions, challenging me on the responses and taking a very balanced view."
  • Recommended and named a "Rising Star" in the 2018–2020 editions of The Legal 500 UK in the category of Financial Services, Contentious
  • Commended in The Times ‘Best Law Firms 2019’ guide for financial crime, fraud and regulatory.

Insights & News

Credentials

  • Education

    • BVC, Nottingham Law School, 2006

    • LLB, University of Nottingham, 2005

  • Admissions

    • England and Wales, Barrister

    • New York

Credentials