Conflicts, confidentiality and the duty to the court.

The duty

If instructed, the duty is to the court or tribunal, not to the instructing party. No success fee, contingency or deferred fee tied to the outcome is accepted. Drafts of a report are for factual correction, not advocacy. If the file will not bear the opinion asked, we say so before a report is written.

Current and former employment

Manuel currently reviews market-abuse alerts in the first line of defence (1LOD — the business reviewing its own trades) at NatWest Markets, and previously sat in the second line (2LOD — compliance and surveillance) at UBS. Those institutions, their clients on a given file, and any matter that would draw on confidential information obtained in employment, are declined.

• NatWest Markets (current employer)
• UBS (former employer, 1992–1993 and 2024–2025)
• CIBC Financial Products (former employer, 1994–1998)
• Citibank / Tribeca Global Investments (former)
• NyLon Capital Management LLP (former)
• Prologue Capital LLP (former)

What we will not take

• Matters involving a current employer, a former employer listed above, or an affiliate of either, unless a written waiver from that institution is already in hand — and even then, only if the opinion can be given without using confidential employment information.
• Any instruction that would require disclosure of confidential information belonging to a current or former employer.
• Any instruction in which employment obligations, a regulatory investigation involving the expert personally, or a personal financial interest could reasonably be thought to colour the opinion.
• Any file that asks for an opinion the data will not support.

How a check runs

Send the names of parties, counsel, banks and known related entities. Do not send privileged papers until we have confirmed we are free to act. A conflicts check is done the same day where we can. The check itself, and a short first call, are not charged. Submitting an enquiry does not create a retainer.

Confidentiality

Enquiries are treated as confidential. We will not share your details with third parties. Work product is held for the instructing solicitors. Nothing on this website is legal advice or investment advice.