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Jacob N. Ghanty

Fax +44.(0)20.7648.9001

Jacob Ghanty is a partner at the firm’s London office, where he is a member of the Investment Management, Hedge Funds and Alternative Investments practice group. He concentrates his practice on financial services regulation, investment management, payment systems and services, FinTech, insurance/reinsurance and structured debt and capital markets. Mr. Ghanty advises clients on their regulatory strategy, on their dealings with regulators and on transactional matters.

Mr. Ghanty has been recognised for several years by the UK legal directories. He is listed in Chambers UK 2017 in band 1 for Financial Services: Payments Law (UK wide). Chambers describes Mr. Ghanty asastute and insightful and that he has the rare gift of being able to get to the heart of a problem and to set out the issues elegantly and concisely. In addition, Chambers recognises that Mr. Ghanty has “expertise in payment law within the context of broader experience advising banks and insurance companies on regulatory issues, ensuring a well-rounded offering”. Mr. Ghanty is also recommended by the Legal 500 UK 2016 for Financial Services (non-contentious, regulatory), which describes Mr. Ghanty as having “a clear understanding of the retail banking/payments environment”.

Professional Background

Prior to joining the firm, Mr. Ghanty was a partner at an international law firm in London where he advised a broad range of clients including asset managers, insurers, banks, payment institutions, intermediaries and unregulated corporates, as well as individual members of senior management.

Mr. Ghanty has undertaken secondments previously with Fidelity Investments and with Legal & General.

Professional/Civic Activities

  • The Law Society
  • Financial Services Lawyers Association
  • Editorial Board of In Compliance
  • Member of the Financial Services Working Party of the Law Society’s Company Law Committee

Speaking Engagements

Mr. Ghanty regularly writes and gives seminars on developing legal and regulatory issues. His recent presentations include:
  • RegTech as a Competitive Advantage – Round Table Discussion
  • Impact of the EU Alternative Fund Managers Directive (AIFMD)
  • What to expect from the Payment Systems Regulator
  • OTC Derivatives and Central Clearing under the European Market Infrastructure Regulation
  • An introduction to the legal and regulatory landscape for life insurance in the UK
  • Key themes in regulation for custodians
  • AIFMD for real estate fund managers
  • Impact of the Single European Payments Area
  • Application of outsourcing requirements to foreign exchange businesses
  • Understanding the concept of “Treating Customers Fairly”
  • CF10a - The CASS Operational Oversight Function

Additional Information

Mr. Ghanty is editor of the commentary in Butterworths Financial Regulation Service on the FCA’s Senior Management Arrangements, Systems and Controls Sourcebook and the Prudential Sourcebook for Mortgage and Home Finance Firms, and Insurance Intermediaries.

Mr. Ghanty has articles published in Practical Law Financial Services, Complinet, In Compliance, Structured Credit Investor, LexisNexis and International Tax Review, and has been quoted on FT.com and E-finance & Payments Law & Policy among others.
  • Acting for a Wall Street investment bank in relation to acquisitions of interests in FinTech businesses
  • Advising numerous investment managers on the application of the EU Alternative Investment Fund Managers Directive (AIFMD)
  • Advising a payment services provider on product design and on an outsourcing arrangement with a government department
  • Advising a life insurance company on the application of the UK Financial Services Compensation Scheme across its various product lines and businesses
  • Advising an IT company on the impact of the UK payment systems regime
  • Acting on several occasions as a “skilled person” under section 166 of the Financial Services and Markets Act 2000 and also advising various firms subject to a skilled person requirement
  • Drafting a suite of internal policies and client take-on documentation for a newly-established investment management business
  • Advising a forex services provider in its London IPO
  • Advising an online retailer in relation to consumer finance matters
  • Advising numerous US and Asian payments businesses on entering the EU market
  • Advising London branches of overseas banks on UK and EU regulatory requirements
  • Acting for product manufacturers and intermediaries on product distribution, including appointed representative arrangements
  • Advising several clients on the application of Solvency II
  • Representing a WRAP platform provider in contractual negotiations with third party providers of clearing, settlement and custody services
  • Acting for a Swiss bank on regulatory aspects of the sale of its global long-only asset management business to a Scottish fund management group
  • Advising a private equity firm on the acquisition of a mortgage company and a mortgage administration company
  • Advising a UK clearing bank on a joint venture with a US private equity house where the underlying assets were a pool of non-performing loans
  • Advising an insurance company on a review of the terms of reference of its Board committees
  • Advising a UK clearing bank on the establishment of a share dealing platform for its staff
  • Representing a UK supermarket chain in contractual negotiations with a money remittance company for the provision of an international money remittance service for the supermarket’s customers
  • Acting for insurers and retailers on the regulatory requirements affecting sales of add-on insurance warranty products
  • Supporting numerous banks, investment managers, investment advisors and brokers, electronic money issuers and payment service providers in applying for and varying regulatory licenses
  • Assisting banks, investment managers and insurers with “passporting” their services into EU countries under various Single Market Directives
  • Advising banks, payment service providers, card issuers and other institutions on the requirements of the EU Payment Services Directive
  • Advising life insurance companies on the FCA’s permitted linked rules for linked long-term investment business
  • Acting for various clients operating in the “shadow banking” markets, including crowdfunding platforms, investments funds and insurance companies, on the developing regulatory requirements in this area
  • Advising banks and other financial institutions on remuneration requirements under the CRD
  • Advising firms on the requirements of the FCA in relation to client money and custody of investments
  • Supporting numerous firms in establishing financial services operations in the EU