SPECIALISM
Financial Markets, Regulatory Law & Decentralised Finance
Tim Aron is a lawyer specialising in financial services law and a member of the specialist banking and financial services set, Minerva Chambers. He is widely regarded as a leading expert in markets regulation with a deep practical understanding of securities, derivatives and various spot markets including FX and crypto. He is described in independent legal directories as:
“A true expert on markets issues. He has deep knowledge and excellent judgement." (Chambers 2021)
"Very pragmatic in his approach and he quickly understands where the business priorities lie in complex and fast-moving scenarios.” (Chambers 2021)
“That rare combination of a lawyer with first-rate technical skills, commercial acumen, who is also solutions orientated” (Legal 500 2021)
“A pleasure to work with and very user friendly.” (Legal 500 2021)
“Tim is intelligent in his thinking and commercial in his application. He has a strong ability to apply technical legal principles to achieve the commercial goals of the client.” (Legal 500 2022)
“Tim understands details as well as the bigger picture and is able to amalgamate the important aspects of the two when providing his advice.” (Legal 500 2022)
“He's very knowledgeable. He has strong, detailed knowledge of financial services issues.” (Chambers 2022)
“He's very experienced on the technical side of financial services.” (Chambers 2022)
RECENT WORK
Tim is instructed by regulators, firms and individuals in the financial services sector. Recent work includes:
Securities
Tim has a deep understanding of the securities markets stemming from serving as counsel to the UK Listing Authority during and immediately post the financial crisis. During this time he was also a member of, and legal advisor to, the Rights Issue Review Group. Recent work includes acting for Bitfinex Securities in setting up the first regulated securities exchange for tokenised securities.
Crypto
Tim has acted for some of the highest profile blockchain projects primarily in an advisory capacity. Advisory work has covered stablecoins, spot markets, securities, derivatives (specifically CFDs), a variety of regulatory perimeter issues and numerous anti-money laundering matters. Tim has also been instructed in regards to contractual disputes relating to SAFTs and in claims for and against exchanges. Tim has a particular interest in decentralised finance.
Derivatives
Tim has acted for central banks and two of the largest international clearing houses in relation to various matters including settlement finality issues and ring fencing of client assets. He was part of the legal team advising the administrators of the derivatives broker, MF Global. More recently he has acted for an international group of inter-dealer brokers in regards to MiFID 2 implementation and related issues and a large derivatives exchange.
Funds
Tim frequently advises collective investment schemes in regards to regulatory market-infrasturcture matters and structuring. Recent work includes acting for a senior executive of a large international fund under investigation in a number of jurisdictions, acting for a fund bringing a claim against a derivatives platform and acting for defendants in a five-week High Court trial relating to unregulated collective investment schemes.
Contentious Regulatory and Investigations
Tim has considerable experience acting against regulators at the contentious supervisory level, before regulatory committees and in the Tribunal. Tim has acted for regulators, banks and individuals involved in various investigations often with an international element. Recent work includes acting for a senior trader under investigation in the US and three other jurisdiction, a compliance officer in relation to a large fraud that took place at his firm, and an inquiry into, inter alia, suppression and cover-up of various banking frauds.
International
Tim is frequently instructed on cases with an international aspect. Recent work includes instructions in Singapore, Switzerland, the US, the BVI, Cayman Islands, Kazakhstan, Dubai, Abu Dhabi, Italy and Brussels.
EDUCATION
BA, MA, Barrister of the Inner Temple (2004)
A full CV is available on request.