Shearman And Sterling

Barnabas (Barney) Reynolds is Global Head of the Financial Services Industry Group and is also a member of the firm's Executive Group.

Barney advises all types of financial market participant as well as governments on the London, European and global markets. He focuses on financial institution law, regulation and legal risk management, both domestically and cross-border. He works with industry bodies and regulators and gives evidence before Parliamentary Committees. He has helped set up new legal and regulatory regimes, such as ADGM in the UAE, which is now financial center number 26 in the world (within just over 3 years) according to the Z/Yen index.

Barney is advising many significant financial market participants on the potential impact of Brexit on their businesses. He authored “A Blueprint for Brexit: the Future of Global Financial Services and Markets in the U.K.”, “A Template for Enhanced Equivalence: Creating a Lasting Relationship in Financial Services between the EU and the U.K.”, “The Art of the No Deal: How Best to Navigate Brexit for Financial Services” and “Free Trade in U.K.-EU Financial Services – How Best to Structure a Brexit Free Trade Deal”, published in November 2016, July 2017, November 2017 and October 2018 respectively.

The proposals in the Template were adopted by the U.K. Government and now form the basis of the U.K.’s and EU’s proposed Enhanced Equivalence model for trade in financial services post-Brexit. Barney’s detailed analysis for no-deal planning in “The Art of the No Deal” is now in use across the City's financial industry.

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.