Oliver Pegden specialises in investigations and enforcement and related litigation. He has a strong track record of handling high-profile investigations carrying significant reputational risk across a wide range of sectors and issues.
He is experienced in representing companies and individuals in matters involving various UK authorities, including the Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA), Payment Systems Regulator (PSR), Bank of England, OFSI, Ofgem, Ofcom, the Takeover Panel, and the Serious Fraud Office (SFO). He is also regularly engaged as part of wider teams on cross-border matters involving overseas authorities, particularly the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC) and other financial services and markets regulators around the world (recently including the AMF, BaFin, DFSA and SEBI).
Oliver has a particular focus on securities and commodities related matters, including complex market abuse investigations by regulators or exchanges and trading-related internal investigations. In this area his experience covers a wide range of issues, including market manipulation in various forms, concealment of trading losses (rogue traders), algorithmic trading errors and other trading control failures, market abuse surveillance issues, as well as investigations into so-called "stock-drop" events.
Regulatory Investigations and Financial Crime Insights
The latest global trends, risks and developments in regulatory investigations and financial crime
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His recent experience includes:
- Oliver’s experience includes a secondment to the UK Financial Conduct Authority’s Enforcement and Market Oversight Division, where he worked on a high-profile market abuse case involving spoofing.
- Advising a UK-regulated firm responding to a criminal investigation by a European authority in relation to dividend withholding tax reclaims.
- Advising a commodities trading firm investigating and responding to enforcement proceedings by ICE Futures Europe relating to alleged spoofing in the in Brent and WTI futures contracts.
- Advising a commodities trading firm conducting an internal investigation into potential manipulation of UCO futures (alleged ramping) and STOR reporting obligations.
- Advising a firm responding to an enforcement investigation by the DFSA relating to alleged conflicts of interest and inflation of asset values.
- Advising various UK listed companies and directors responding to preliminary enquiries and enforcement investigations by the FCA in relation to potential breaches of UK MAR, the Listing Rules and Disclosure and Transparency Rules.
- Conducting an internal investigation for a firm in relation to mismarking and concealment of losses by a "rogue trader" in relation to trading of European government bonds.
- Advising a firm responding to an FCA enforcement investigation relating to alleged manipulation of Gilt prices as well as parallel investigations by the SEC and AMF.
- Advising a hedge fund responding to an FCA enforcement investigation relating to alleged barrier chasing (equity derivatives).
- Internal investigation for a firm responding to an Ofgem investigation into alleged spoofing of the UK wholesale gas market in breach of REMIT and alleged misuse of instant messaging.
- Urgent internal investigation for the trading arm of a European electricity producer into potential market manipulation and mismarking to conceal losses.
- Advising a Senior Manager subject to an FCA and PRA enforcement investigation in connection with a high-profile IT failure.
- Advising an asset manager in connection with events in the “LDI” market following the UK “mini budget” in Autumn 2022.
- Advising a firm subject to regulatory investigation in connection with use by staff of WhatsApp and other unauthorised communication systems.
News and client work
Contact details
- Clifford Chance, London
- +442070068160
- Email me
- Practice area Litigation, dispute resolution & risk management
Career & qualifications
- Oxford University, Corpus Christi College (BA, History) 2004
- Joined Clifford Chance 2007
- Admitted as a solicitor in England & Wales 2009
- Judicial Assistant to the Court of Appeal 2009
- Seconded to the Financial Conduct Authority, Enforcement and Markets Oversight Division 2015
- Partner since 2020
Professional bodies
- Financial Services Lawyers Association
Awards and citations
- Oliver is phenomenal. He is technical and involved in complex cases. He has experience and this amazing brain that can understand facts in a unique way.
Chambers and Partners UK 2025 - Oliver is really clever and has a strong reputation in the field. He is really on the money with things, very authoritative and tactually astute.
Chambers & Partners 2024
- He has a razor-sharp mind and is very collegiate.
Chambers & Partners 2024 - He is always one step ahead.
Chambers & Partners 2024