Philip Annett | People | Baker McKenzie

Biography

Philip Annett is a partner based in Baker McKenzie’s London office focussing on complex investigations, litigation and compliance matters. He has an in-depth knowledge of working with UK and international regulators and enforcement agencies, having previously been a senior lawyer in the Enforcement Division at the Financial Conduct Authority (FCA) where he led some of the regulator's highest-profile enforcement cases. He also previously worked in the Bribery and Corruption Division at the Serious Fraud Office.

Practice Focus

Philip advises clients on complex investigations, litigation, regulatory and compliance matters, often with cross-border aspects. He has particular experience in the financial services, EMI, technology and healthcare sectors in a wide range of complex, high-value regulatory/compliance matters, investigations and litigation, both domestically and cross-border.

Representative Legal Matters

Regulatory

Currently representing the CEO of a UK retail bank in relation to a joint FCA and PRA investigation.
Represented the Bank of New York Mellon on the FCA investigation for failure to comply with the Custody Rules which resulted in a GBP 126 million penalty.
Various financial crime related issues, including representing Barclays Bank on the FCA investigation relating to financial crime system and control failings, which resulted in a GBP 72 million penalty.
Represented the former Head of Markets of a major investment bank in a FCA investigation relating to oversight failures arising from Libor and FX matters.
Various market abuse related queries and investigations including spoofing matters and manipulation of a bond market.
Acted on the FCA's investigation into Newton Investment Limited which related to the first use of the FCA's competition powers.
Led the investigation against UBS (Kweku Adoboli investigation) for systems and control failings resulting from the rogue trading incident in September 2011, which resulted in losses to the bank of USD 2.3 billion. This included assisting the City of London police in their successful prosecution of Mr. Adoboli for fraud.
Led the FCA investigation into a hedge fund portfolio manager who mismarked a hedge fund to the value of approximately USD 80 million. This also involved supporting the US Department of Justice and Securities Exchange Commission in their successful prosecution of Mr. Balboa for fraud.
Worked on various skilled person section 166 reports.

White collar crime experience

Various bribery and corruption matters, including conducting internal investigations for construction and energy companies, and compliance advisory work.
Acted on various insider dealing and financial crime prosecutions brought by the FCA including R v Neil Rollins, R v Thomas Ammann, R v Jessica Mang, R v Christina Weckworth and aspects of Operation Tabernula.
Represented senior individuals in investigations commenced by the SFO.
Acted for a key witness in the SFO's EURIBOR investigation.
Acted on the SFO's investigation into Rolls Royce.

Admissions

Ireland~Ireland (2019)
New York~United States (2005)
England & Wales~United Kingdom (2002)

Education

The College of Law (Legal Practice Course) (1999)
Leeds University (LLB) (1998)