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Donegan, Thomas

Thomas Donegan

Partner

Thomas Donegan is a partner in Shearman & Sterling's global Financial Institutions Advisory & Financial Regulatory Group.  He advises financial institutions, including banks, exchanges, clearing houses, fund managers, brokers and settlement systems on legal and regulatory issues and in their business transactions. Thomas is recognized as a leading individual in Legal 500 UK 2016, and is cited as being "excellent" and having a “deep understanding of European regulation”

Thomas has advised on the implementation and impact of the EU/UK regulatory reforms arising out of the recent financial crisis and how local initiatives fit into the global regulatory architecture including on EMIR, MiFID II, capital, recovery & resolution, governance, ring-fencing, the EU single market program, anti-money laundering issues and shadow banking reforms. More recently Thomas has been advising financial market participants on the potential impact of Brexit on their businesses.

Selected Experience

  • Abu Dhabi Global Market (ADGM) on its establishment as an international financial centre in the U.A.E.
  • Fairfax Financial Holdings Limited on its £1.22 billion acquisition of Brit plc
  • ICE on numerous projects including its establishment of ICE Clear Europe as the first new derivatives clearing house in London since 1880; the launch of clearing for credit default swaps and on the transition of clearing of the NYSE Liffe London derivatives market from NYSE Liffe and LCH.Clearnet Ltd to ICE Clear Europe
  • Market participants on business structure and ongoing compliance including conduct of business, corporate governance, regulatory capital and investigations and enforcement
  • DTCC on setting up of a new subsidiary, DTCC Derivatives Repository Ltd, a new global repository for OTC derivatives based in Europe

Selected Publications

  • "Brexit: Significant Opportunities for a Regulatory Reboot", Banking Perspectives, Q3, 2016, The Clearing House (with Barney Reynolds)
  • "Brexit – Opportunity for a Reboot of Financial Regulation", JIBLR (with Barney Reynolds)
  • “MiFID II: A cure for all ills?,” IFLR (with Barney Reynolds and Anna Doyle)
  • “FSMA banking business transfers: choosing the right route,” PLC (with Barney Reynolds)
  • “The pros and cons of UK exchange recognition,” IFLR (with Barney Reynolds)
  • “What’s broken with the UK’s client asset and money protections and how to fix it,” JIBLR (with Barney Reynolds, Azad Ali, Aatif Ahmad)
  • “Protecting the Market,” Carbon Finance (with Mehran Massih)
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