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 has been recognized as “Up and Coming” by Chambers UK and as a “Rising Star” by the Legal 500 UK in the category of contentious financial services regulatory work.

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 suspected failures of responsibility and oversight.

He also advises businesses on regulatory and financial crime matters, including anti-money laundering and sanctions compliance.

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).

Experience

  • Financial Services

    Current and recent clients include:

    • Fund management company under investigation by the FCA for alleged failures relating to the monitoring and management of a fund’s liquidity.
    • International Financial institution in connection with a multi-jurisdictional insider dealing probe.
    • Senior director alleged of non-financial misconduct.
    • European government bond futures trader under investigation by the FCA for alleged market abuse by ‘spoofing.'
    • 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.
    • 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 head of the wealth and investment arm of a major UK bank, for an alleged failure to exercise due skill, care and diligence.
  • 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.
  • Financial Crime Compliance

    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.
    • Advising businesses, across sectors, on the UK sanctions regime, particularly as it relates to Russia.

Recognition

  • Named an "Up and Coming" individual in the Financial Services: Contentious Regulatory category in Chambers UK 2020, 2021 and 2022. A client notes that "his strength, beyond his deep understanding of the relevant law, is his ability to communicate with me in a way which puts me at ease and gives me confidence I am getting the best advice. He's got a good mix of technical knowledge and strategic know-how."
  • Recommended and named a "Rising Star" in the 2018–2023 editions of The Legal 500 UK in the category of Financial Services, Contentious Regulatory
  • 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