Legal Counsel, Regulatory

Hong Kong Exchanges and Clearing Limited (HKEX); Greater London; On-site; GBP 90,000 - 130,000; Full time

Job summary

Hong Kong Exchanges and Clearing Limited (HKEX) invites applications for a Regulatory Legal Counsel AVP in London, joining the London Metal Exchange (LME). You will provide robust regulatory advice across the organisation, working with cross-functional teams and advising on UK financial services law and commodity derivatives rules.

You will own high-stakes matters from day one, liaising with senior lawyers and the General Counsel, and shaping regulatory risk management, product design, and

Qualifications

• Qualified solicitor in England & Wales with 1–5 years PQE.
• Experience at a city law firm or financial services in-house.
• Knowledge of UK financial services law and regulatory matters.
• Strong drafting and communication skills; commercial risk mindset.

Responsibilities

• Provide regulatory advice on LME’s products and services.
• Collaborate with Trading, Market Surveillance, and Regulatory teams.
• Advise on regulatory change programmes impacting derivatives.
• Research and analyse regulatory, public law, and LME Rules issues.
• Monitor developments and draft responses to public consultations.
• Define legal requirements for new products and assess risks.
• Manage external counsel to control costs.
• Respond to member queries about LME rules.

Skills

Drafting skills

Regulatory experience

Legal research

Commercial acumen

Communication skills

Team collaboration

Autonomous working

Education

Solicitor qualification in England & Wales

PQE 1-5 years

Job description

Reporting Line: (UK Division) Legal & Company Secretariat

Shift Pattern: Standard 40 Hour Week (United Kingdom)

Scheduled Weekly Hours: 40

Corporate Grade: D - Assistant Vice President

Reporting Line: (UK Division) Legal & Company Secretariat

Location: UK-London

Worker Type: Permanent

About The Role

This role is a rare opportunity for an ambitious lawyer to work as a regulatory legal counsel for The London Metal Exchange (LME), the world’s leading industrial metals marketplace which sets global reference prices. The efficiency and trust in the LME’s marketplace, the financial clout of London’s wider financial sector, and the strength and robustness provided by London’s legal system set the LME apart from any other commodity exchange. You will join the LME’s regulatory (legal) team as an AVP, working alongside the team manager and ultimately the General Counsel, to deliver robust and practical legal advice across the whole organisation. The regulatory team is part of the legal department which is responsible for advising the LME on a variety of legal and regulatory matters relating to metals trading and other associated products and services in a way that helps to drive the growth of the organisation. The LME operates in a highly regulated environment requiring strong legal involvement and expertise both for its core business and the development of new products. From day one, you will own matters of genuine consequence. The breadth and scope of your work will constantly change from day-to-day, and you will provide high-value advice to stakeholders at all levels of seniority on regulatory matters. You will need a sharp legal mind, the ability to work at pace, across regulatory, public law and LME Rules (often simultaneously), and the confidence to provide commercially sound advice with a reasoned approach to legal risks. You will operate with genuine autonomy, in direct contact with different LME business teams, and solve queries on multiple issues, for instance trading, position management, market data licensing, benchmark regulation, LME member on-boarding or rules queries. You will also provide legal advice as a part of cross-business team member working on complex long-term projects. You may also have the opportunity to work on clearing and contract/commercial issues from time to time.

What You Will Gain

You will have early ownership of complex, high-value matters and be given the opportunity to develop strong analytical, drafting, negotiation and presentation skills by actively advising business teams either independently or as part of a team. You will work closely with senior lawyers and the General Counsel to build expertise and develop your career. You will be given the opportunity to gain expertise across a unique combination of regulatory, public law, contract law and commodity derivatives contracts. If you have an interest in financial services regulation in the commodities space, this is truly a rare and unique opportunity to build expertise in the base metals world.

Responsibilities

• Provide regulatory advice, both independently and as part of a team, in relation to the LME’s products and services.
• Work collaboratively with different businesses across the LME - including Trading and Business Development, Market Surveillance, Market Access, Market Structure, Market Data and Regulatory & Compliance – to deliver practical, clear and sound legal advice.
• Advise on key regulatory change programmes impacting the commodity derivatives regulatory framework.
• Research and analyse specific legal points on a broad variety of regulatory, public law and LME Rules issues.
• Proactive monitor legal and regulatory developments, assess their impact on the LME, and draft responses to public consultations in conjunction with relevant internal stakeholders and the Corporate Communications team.
• Support the development of new products/projects/initiatives, including defining the legal requirements, advising the business with potential legal risks and the drafting relevant legal documentation.
• Responding to queries from members of the LME on the LME rules and other matters.
• Managing external counsel with a view to obtaining optimal service whilst controlling costs.

Academic And Professional Qualifications Required

• A solicitor admitted in England & Wales or holding a Scottish or foreign jurisdiction equivalent.
• The legal counsel is likely to have 1 to 5 years of post-qualification experience, but candidates outside of this range are encouraged to apply.
• The ideal candidate will have worked for a city law firm in the UK or a reputable law firm in a foreign jurisdiction and/or in-house at a financial services firm (including but not limited to banks, investment firms and financial market infrastructure), and/or a trade body or regulator advising on wholesale financial regulation in the UK or in an equivalent foreign jurisdiction. Exceptional candidates outside these areas are encouraged to apply.
• Whilst desirable, in-house experience is not a pre-requisite.

Required Knowledge

• Basic knowledge of UK financial services law. For candidates qualified in a foreign jurisdiction, prior experience in financial services regulation in their home jurisdiction and a willingness to learn at pace UK financial services law is required.
• Experience of legal research, analysis and problem solving.
• Strong drafting and communication skills with the ability to communicate complex legal issues clearly to non-legal stakeholders.
• A commercial mindset – capable of bringing sound judgment and a reasoned approach to legal risk.
• Experience of drafting both agreements and legal advice.
• Ability to work autonomously, knowing to

Desirable Knowledge

• Understanding of the commercial, legal and regulatory environment in which the LME Group (and in particular the LME) operates would be advantageous.
• An understanding of financial markets, and in particular, commodities trading (physical or financial) would also be advantageous.
• Experience with financial services regulations such as UK MIFID/MIFIR, FSMA and UK BMR, as well as having some understanding of UK public law, would be ideal.
• Whilst this role is not a transactional role, some experience of contract law would be very helpful.

Skills Set And Core Competencies Required For Role

• Whilst prior experience in advising on UK financial services, commodity derivative products and on UK public law is not required, an enthusiastic approach and willingness to learn are a must.
• Agile mind-set and openness to build and develop new subject matter expertise in parallel with business needs and growth.
• Ability to learn quickly.
• Excellent attention to detail.
• Good judgement.
• Excellent interpersonal skills and team player.
• Excellent communication skills at all levels of seniority and the ability to influence decisions.
• Ability to work well in a dynamic team, whilst carrying out tasks autonomously.
• Ability to prioritise work and to manage expectations.
• Excellent drafting skills.
• Ability to work well with the business in a commercial manner, while managing and mitigating risk.

The LME is committed to creating a diverse environment and is proud to be an equal opportunity employer. In recruiting for our teams, we welcome the unique contributions that you can bring in terms of education, ethnicity, race, sex, gender identity, expression & reassignment, nation of origin, age, languages spoken, colour, religion, disability, sexual orientation and beliefs. In doing so, we want every LME employee to feel our commitment to showing respect for all and encouraging open collaboration and communication.