Overview
Raza is widely regarded as a leading specialist on a number of financial services topics including ESG, MiFID, AIFMD and UCITS, AI regulation, DORA and UK operational resilience requirements, cryptoasset regulation, the FCA Consumer Duty and PRIIPs / CCIs (amongst others). He advises the firm’s key banking, FMI and investment management clients on regulatory compliance, investigations and regulatory engagement, including on how to manage diverging regulatory regimes in cross-market businesses.
He has helped a number of leading international banks, hedge funds and proprietary traders set up carbon trading desks and advised them on practical compliance with applicable regulatory rules.
Raza has also led on and contributed to a number of trade associations, industry forums and Linklaters roundtables / briefings on these topics. He also works closely with the broader Linklaters practice areas, providing regulatory coverage in areas such as AI/technology, derivatives, structured products, funds and employment matters.
Experience
Raza has an extensive financial regulatory practice. The breadth of his practice includes:
Markets and Trading:
- Advising a number of leading internal banks and asset managers on compliance with MiFID II and Brexit – including advice on the commodities position rules introduced by MiFID II.
- Advising a number of leading internal banks and asset managers trading wholesale energy products on compliance with REMIT 2.
- Assisting global international banks in setting up UK and European carbon trading desks – including advice on licences required and additional MiFID, MAR and other regulatory rules that are switched on.
ESG:
- Assisting a number of global asset managers and banks in designing ESG funds and structured products, including advising on appropriate ESG features / commitments, disclosures and related governance.
- Supporting investment banks and issuers in developing their sustainable investment frameworks.
- Advising a number of financial institutions on their CSRD implementation projects, including support with the double materiality assessment, review of disclosures and advice on scoping.
- Advising clients on their internal risk and compliance frameworks to manage greenwashing risks and supporting clients with related regulatory enquiries.
DORA / operational resilience and AI:
- Supporting global financial institutions with their DORA implementation projects, including contract uplifts and negotiations, updates to internal incident reporting frameworks and advice on governance / controls uplifts.
- Advising technology providers in connection with their designation under the EU DORA and UK critical third parties designation regime.
- Advising a range of buyside and sellside clients on their regulatory obligations arising from the use of AI and other technologies.
Consumer Duty, PRIIPs & CCIs:
- Assisting retail and wholesale businesses on the implementation of the FCA’s Consumer Duty, including how the Duty interacts with existing and evolving requirements in other jurisdictions.
- Supporting clients with their PRIIPs and UK CCI implementation projects, ranging from support with the drafting of KIDs/CCI summary documents to advice on costs and performance calculations and governance related uplifts.
Licensing:
- Licensing analysis and support in obtaining or amending required regulatory licenses, most recently in the context of licensing requirements in respect of cryptoasset services.
Implementation projects:
- Assisting a number of international banks, broker dealers, trading venues, private banks and asset managers with their regulatory implementation projects for MiFID II, EMIR, MAR, Benchmarks Regulation, Short-Selling Regulation and AIFMD (among others).
Brexit and divergences:
- Advising international sellside firms and global asset managers on the implications of Brexit, related restructuring of operations and managing increasing divergences of regulatory regimes across multiple geographies.
Reorganisations & restructurings:
- Assisting a leading banking group on the reorganisation of its asset management business.
Governance:
- Assisting various financial services firms on governance matters, including directors’ duties, SMCR and conflicts issues.
Admissions