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Barnabas W.B. Reynolds

Partner

Barnabas Reynolds is head of the global Financial Institutions Advisory & Financial Regulatory Group and is Global Co-Head of Financial Institutions at Shearman & Sterling.  He advises governments and all types of financial market participants on the London, European and global markets.  His practice focuses on financial institution law and regulation and legal risk management, national and cross-border.  Barnabas is also immersed in the development of law, regulation and policy. He works with industry bodies, regulators and governments, and gives evidence before Parliamentary Committees. He has helped set up new legal and regulatory regimes. From 2010 to 2014, he served as an elected member of the firm’s Policy Committee. Barnabas is recognised as a leading UK and EU financial regulatory lawyer by Chambers UK and Legal 500, is named as a Law360 MVP and is in The Lawyer Hot 100 list. He is a member of the Financial Markets Law Committee.

Mr. Reynolds advises on the impact and implementation of developments such as MiFID II and other conduct of business changes, the EU IHC, governance expectations, regulatory capital, recovery & resolution and ring-fencing, sanctions and anti-money laundering, emerging eurozone regulation and "shadow" banking regulation.

Barney is advising many significant financial market participants on the potential impact of Brexit on their businesses. He has authored "A Blueprint for Brexit: the Future of Global Financial Services and Markets in the UK", "A Template for Enhanced Equivalence: Creating a Lasting Relationship in Financial Services between the EU and the UK" and "The Art of the No Deal - How Best to Navigate Brexit for Financial Services", published by Politeia in November 2016, July 2017 and November 2017 respectively. He has written numerous op-eds for leading newspapers and articles in legal publications from around the world on the implications of Brexit for financial services and other regulatory topics.

Selected Experience

  • Sompo Holdings, Inc. on its $6.3 billion acquisition of Endurance Specialty Holdings Ltd
  • ICE Inc. on the regulatory aspects of its acquisition of a 4.7% stake in Euroclear from The Royal Bank of Scotland Group
  • Involved in all significant recent Greek bank recapitalisations, including
    • Piraeus Bank, Greece’s second largest lender by assets, on its €4.9 billion recapitalisation
    • Bondholders on the recapitalization of the National Bank of Greece
      • IFLR 2016 Financial Regulation Team of the Year
    • Eurobank, the third largest bank in Greece by assets, on its €2 billion recapitalization
  • ICE Inc. on the European regulatory aspects of its approximately $11 billion acquisition of NYSE Euronext, subsequent carve-out of LIFFE and spin-off of the Euronext continental cash equity markets

Selected Publications

  • Author of The Art of the No Deal - How Best to Navigate Brexit for Financial Services, POLITEIA, 28 November 2017
  • Author of A Tempulate for Enhanced Equivalence: Creating a Lasting Relationship in Financial Services between the EU and the UK, POLITEIA, 10 July 2017
  • Author of A Blueprint for Brexit: The Future of Global Financial Services and Markets in the UK, POLITEIA, 2 November 2016
  • Co-editor of Sweet & Maxwell’s Journal of International Banking Law and Regulation
  • Contributing author of How to Leave the EU: What’s Best for Britain, Best for the EU?, New Direction / POLITEIA, 10 March 2017
  • Co-author of Shipowners’ Limitation of Liability, Kluwer Law, 2012
  • EU-managed control of euro clearing is not viable – FT.com, 15 May 2017
  • UK Safer For City’s Financial Sector than EU – POLITEIA, 3 May 2017
  • The Abu Dhabi Global Market – Legislative Framework, Approach and Methodology, JIBLR (with others)
  • What Next? The Shape of the UK-EU Financial Services Deal”, POLITEIA, 20 January 2017
  • Opportunities after Brexit: a Financial Free Zone Within the City”, JIBLR
  • “The UK’s natural advantages mean the City can continue its dominance post-Brexit”, The Telegraph, 23 November 2016
  • “Brexit: implications for the insurance and reinsurance industry”, JIBLR, (with Andreas Löhdefink, Thomas Donegan and Mak Judge)
  • “Brexit: Significant Opportunities for a Regulatory Reboot”, Banking Perspectives, Q3, 2016, The Clearing House (with Thomas Donegan)
  • “Brexit - Opportunity for a Reboot of Financial Regulation”, JIBLR (with Thomas Donegan)
  • “After Brexit…”, The Banker, August 2016
  • “Brexit: why wait and see is the best policy for the financial markets”, JIBLR
  • “Early Bank Recovery and Resolution Directive (BRRD) experiences: lessons learned from Greece”, JIBLR (with Ellie Teo)
  • “Americanisation of UK sanctions?”, IFLR (with James Campbell)
  • “The Effects of Trans-Atlantic Reform on Margin for Uncleared Swaps: Balancing the Risks and Benefits of Uncleared Swaps”, JIBLR (with Donna Parisi)
  • “Individual Accountability: Senior Managers and Beyond”, Banking Perspectives, Quarter 4 2015, The Clearing House (with Reena Agrawal Sahni)
  • “Margin for Error: Balancing the Risks and Benefits of Uncleared Swaps,” Banking Perspective, Quarter 4 2014, The Clearing House (with Donna Parisi)
  • “Is the Client Assets Regime on the Right Track? Transatlantic Perspectives on Client Assets
  • Post-Lehman,” JIBLR
  • “Client money trusts: time for a rethink?,” PLC Magazine
  • “Treating compliance fairly: is compliance being asked to achieve the impossible?,” Thomson Reuters
  • “Shipshape banks: Shipping has a lesson for bank resolution,” Financial World
  • “Shadow banking: are the shadows really the banks? - opinion,” IFLR
  • “Europe: Sewing on the shadows: a lawyer’s take on Peter Pan banking,” IFLR
  • “Whither financial centres? - a legal and regulatory perspective”
  • “MiFID II: A cure for all ills?,” IFLR (with Thomas Donegan and Anna Doyle)
  • “What’s broken with the UK’s client asset and money protections and how to fix it,” JIBLR (with Thomas Donegan, Azad Ali, Aatif Ahmad)
  • “It’s not just about “black swan” events’,” FT.com
  • “FSMA banking business transfers: choosing the right route,’’ PLC (with Thomas Donegan)
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