LEONARD NG is a member of the firm’s Executive Committee and co-head of the UK/EU Financial Services Regulatory group. Based in the London office, Leonard advises a wide range of global financial institutions on complex UK/EU financial services regulatory issues. He has particular experience in advising clients on operating under the regulatory framework established after the last financial crisis, and more recently on Brexit, sustainable finance/ESG, and crypto-asset regulation. Leonard is a past member of the Board of the Managed Funds Association (MFA), the global trade association for hedge funds, and is a frequent speaker at industry conferences.
Recent representative matters include:
- Advising Travelex on its financial and operational restructuring.
- Advising financial institutions on their post-Brexit operations and the implications of Brexit from a wider strategic perspective.
- Advising on the implementation of the new UK Investment Firm Prudential Regime (IFPR).
- Advising on the new regulatory framework for sustainable finance/ESG.
- Advising on the risk retention framework under the UK and EU Securitisation Regulations.
- Advising on the developing UK/EU regulatory framework for crypto-assets, including the proposed EU Markets in Crypto-Assets Regulation.
- Advising on other general UK/EU financial services legislation including MiFID II, AIFMD, UCITS Directive, Market Abuse Regulation, Short Selling Regulation, Transparency Directive, EMIR, SFTR, and REMIT.
- Primary counsel to a global investment fund trade association and its members on all aspects of UK/EU financial services policy and regulation.
- Establishing investment managers and securities firms/broker-dealers in the UK under the UK Financial Services and Markets Act 2000 and providing ongoing regulatory and compliance advice.
- Advising on regulatory change in control issues arising out of M&A and restructuring transactions.
In addition to UK and EU regulatory matters, Leonard has extensive experience in advising clients on the international regulatory capital framework, as well as assisting EU-based clients assess the implications of U.S. financial services legislation in conjunction with colleagues in Sidley’s offices in the U.S.
Leonard has received acknowledgement from numerous industry ranking guides:
- Chambers UK 2021 – Ranked as a Leading Individual for Financial Services: Non-contentious Regulatory. Commentators note “He's one of the leading lights in regulation affecting alternative funds. He's a trusted source and can be relied on to provide us with deep coverage of everything we'd need to know.”
- IFLR1000 2021 – Recognized as a Market Leader.
- Best Lawyers 2022 – Named in the area of Financial Services and Investment Funds.
- 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. He has also been recognized in Who’s Who Legal: Banking 2021 and Who's Who Legal: Thought Leaders - Global Banking Regulation Review 2021. Most recently, he has been recognized in the Private Funds - Regulatory chapter of Who’s Who Legal: Thought Leaders - Global Elite 2022. In previous editions, he is described as “a great regulatory lawyer” and “at the top of the market.”
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.