LEONARD NG is co-head of the EU Financial Services Regulatory group and a member of the firm’s Executive Committee. Based in the firm’s London office, Leonard advises a wide range of global financial institutions on UK and EU financial services regulatory issues and has particular experience in advising investment managers and other clients on operating under the post-financial crisis regulatory framework. Leonard is a past member of the Board of the Managed Funds Association (MFA), the global trade association for hedge funds, and he is a frequent speaker at industry conferences.
Recent representative matters include:
- Advising a range of UK, EU and U.S. financial institutions on their Brexit planning.
- Advising some of the world’s largest alternative investment fund managers on the implementation of MiFID II (having advised a related trade association on the development of the MiFID II text since the initial MiFID II review in December 2010).
- Advising investment managers and other financial institutions on the UK and EU regulatory framework, including the AIFMD, UCITS Directive, Market Abuse Regulation, Short Selling Regulation, EMIR, SFTR and REMIT.
- Primary counsel to a global investment fund trade association and its members on all aspects of EU financial services policy and legislation.
- Establishing a number of investment managers and securities firms/broker-dealers in the UK under the UK Financial Services and Markets Act 2000.
- Advising clients on the new European framework for Environmental, Social and Governance (ESG) investing, including the Taxonomy Regulation and Disclosure Regulation.
- Advising one of Europe’s largest banking groups on the securitization risk retention rules under the EU securitization regulatory framework.
In addition to UK and EU regulatory matters, Leonard has extensive experience in advising international clients on the Basel regulatory capital framework, as well as assisting EU-based clients assess the implications of U.S. legislation such as the Dodd Frank Act, in conjunction with colleagues in Sidley’s U.S. offices.
Leonard has received acknowledgement from numerous industry ranking guides:
- Chambers UK 2020 – Ranked as a Leading Individual for Financial Services: Non-contentious Regulatory. Commentators note his “astounding ability both to be pragmatic and to understand the nuances of the law.”
- IFLR1000 2020 – Recognized as a Market Leader.
- The Legal 500 UK 2017 – Recognized in Financial Services where clients say he is “‘As bright as they come’ and a ‘leader in his field.’” Sources also describe Leonard as “‘exceptionally practical in his views on FCA and EU regulation’ and a ‘go-to lawyer.’”
- Who’s Who Legal 2017 – Leonard was named “Private Funds – Regulatory Lawyer of the Year” at the 2017 Who’s Who Legal Awards. Most recently, he has been recognized in Who’s Who Legal: Banking 2020 and as a Global Elite Thought Leader in Who’s Who Legal: Private Funds 2020, where he is described as “a great regulatory lawyer” and “at the top of the market.”
- Best Lawyers 2020 – Named in the area of Financial Services and Investment Funds.
In February 2019, Leonard was honored with the “Outstanding Contribution Award” which was presented at The Hedge Fund Journal Awards.
Leonard has also been interviewed widely for his thought leadership, including in such national publications as the Financial Times, Reuters, Wall Street Journal and New York Times’ Dealbook. He has also been featured in numerous industry outlets, including Bloomberg Briefs, HFMWeek, Financial News, Risk, Private Equity News, Asian Investor, Law360, Institutional Investor Magazine and Global Risk Regulator.
Admissions & Certifications
- England and Wales (Solicitor)
- The University of Chicago Law School, LL.M., 1997
- National University of Singapore, LL.B., 1994 (with honors)