Alison McHaffie

Alison qualified at CMS Cameron McKenna in 1995 and is a partner in the Financial Services Team.

Alison specialises in advising financial institutions on all types of contentious matters including FSA investigations and enforcement actions and handling commercial disputes and large scale litigation arising out of the provision of financial services.

She acted on the leading Court of Appeal case concerning the disclosure of FSA investigation documents to civil claimants in litigation.  Alison also has significant experience in advising firms on dealing with “wider implications” complaints made to FOS.

In 1998 Alison was seconded to the Enforcement Division of FSA.  She regularly contributes articles to financial services publications and speaks at seminars.

Relevant Experience includes the following:

FSA 

Alison has extensive experience acting for financial institutions in relation to FSA investigations and enforcement actions ranging from market abuse and fraud to retail mis-selling and also regularly advises firms on the appointment of skilled persons and the conduct of past business reviews. Recent work includes:

• Successfully representing a leading fund manager and a number of individuals in connection with split capital investment trusts, FSA’s largest ever investigation which resulted in no findings of regulatory misconduct.
• Advising a bank in connection with its fraud procedures and controls following a large fraud perpetrated on the bank by one of its customers and in relation to its subsequent ARROW visit. 
• Representing a large IFA in relation to an FSA enforcement action in connection with the mis-selling of personal pensions and advising on the conduct of its past business review.
• Representing a major mortgage lender in relation to an FSA enforcement action in connection with the handling of its mortgage arrears accounts. 
• Advising on two collapses of hedge funds managed out of London, seeking to limit FSA’s recourse against the individual managers and dealing with potential claims.
• Advising a large UK life assurer in discussions with FSA relating to the suitability and governance arrangements surrounding the purchase of a hedge for its with profit funds.
• Successfully representing fund managers on a number of market abuse and insider dealing investigations brought by FSA and overseas regulators (CONSOB and AMF).
• Advising an authorised professional services firm in connection with an FSA investigation into its advice in relation to Lehmans backed structured products. 

Dispute Resolution

• Acting for a fund manager in defending a professional negligence action arising out of the floatation and subsequent management of an investment trust.  The case involved important issues regarding the disclosure of FSA investigation documents to civil claimants that were considered by the Court of Appeal.

FOS

• Advising a number of clients on defending claims before the Financial Ombudsman Service covering complaints arising out of fund management, advice on structured products, insurance products and investment trusts.

Education