Professor Andrew Haynes

Professor of Law

Staff profile image, Professor Andrew Haynes
Email address: A.Haynes2@wlv.ac.uk Phone number: 01902 321566 Location: City Campus Faculty: Faculty of Social Sciences School/Institute: Wolverhampton Law School Areas of expertise: Capital Markets Law; Financial Regulation; Financial Crime

About

As well as being a Professor of Law at the University of Wolverhampton, Andrew Haynes is a Senior Visiting Research Fellow at the Institute of Advanced Legal Studies, University of London and is also Chairman of the Market Abuse Association. He is a visiting Professor of Law at the University of Tyumen, Russia and a former visiting Professor of Law at the University of Macau, People’s Republic of China.

Before joining the University, Andrew was employed at the British Bankers Association and Deloitte in London, as well as at two leading law firms. In his spare time, he also spent twenty years assisting in the development of Sustrans from being a small group of volunteers, into being the twenty seventh largest charity in the country. During his time as trustee and non-executive director, the charity raised over £215 million to construct the national cycle network, safe routes to schools, and art on the network. It was also awarded the Queen's Award for Enterprise in 2002, and was the Winner of the National Lottery, Helping Hand Award in 2004.

In 2012, he was made a Freeman of the City of London by Redemption.

In 2016, he commenced acting as an adviser to both the Cabinet Office and the OECD.

Awards and prizes

  • In 2017 he was made Honorary Doctor at the State University of Tyumen, Russia
  • “Highly Commended Paper Winner”, Emerald Publishing 2014
  • “Highly Commended Award Winner” Literati Network Awards for Excellence 2013

Research interests

Capital Markets law, financial regulation, financial crime. In this context, Andrew has spoken at the following:

Key recent conference appearances and speeches

  • “Contractual Issues in derivatives contracts in international banking.” At conference “Banking Law – Challenges and Opportunities.” University of the West Indies, Trinidad. December 2017.
  • “Multinational enterprises, corporate groups and supply chains in a globalised world: Regulatory challenges and approaches, and the future role of company law and corporate governance.” With Professor Louis de Koker for the von Humboldt Foundation at the University of Hamburg, Germany. 2017.
  • “Double Taxation Treaties”, “The Effect of Russian Sanctions on Banks” and “World Banking after the 2008 Crisis” at the State University of Tyumen, Russia. 2017
  • “To what extent can we expect regulators to protect us – and who should pay when it goes wrong?” At conference “Preventing and Controlling Economic Crime in the Modern World – whose responsibility and are they really up to it?” Jesus College, University of Cambridge. 2017
  • “Bond Issues, Notes and Commercial Paper.” Queen Mary and Westfield College, University of London, 2016
  • “Governance, effective risk management and good luck” at conference “ Economic Crime – where does the buck stop?”. Jesus College, University of Cambridge, 2016
  • “Economic Crisis, Regulation and Legal Challenges.” University of Palermo, Sicily, 2015
  • “Anti-laundering laws: intent, content and failed impact.” State University of Tyumen, Russia. 2015
  • “The long arm reach of US laws and their impact on compliance practices in the UK and elsewhere” and “Building the right leadership cultures” at conference “The role of law and the limits of compliance in the 21st century.” Jesus College, University of Cambridge, 2015
  • “The flawed nature of anti-laundering laws”. State University of Tyumen, Russia. 2014
  • “The Financial Services (Banking Reform) Act 2013, will it work” at conference “Banking regulation in the aftermath of the financial crises”. Institute of Advanced Legal Studies, 2014
  • “Accountability of those in management and in particular directors for maintaining the integrity of their business.” At conference “Information – Shield, Sword and Achilles Heel in the fight against economic crime” at Jesus College, University of Cambridge, 2014
  • “Insider Dealing and Market Abuse” Judicial Training, Supreme Court, Mauritius. 2014
  • “Ponzi Schemes and Securitisation” Mauritius Institute for Judicial and Legal Studies. 2014
  • “Legal Issues in the Secondary Debt Markets” International Mercantile Law Conference. University of the Free State, Bloemfontein, South Africa. 2013
  • “Fiduciary standards in the financial services industry – a panacea or a delusion?” and “The role of the civil law and compliance in policing market abuse in the financial sector” at conference “Fighting Economic Crime in the Modern World.” Jesus College, University of Cambridge. 2013.
  • “How financial regulation should manifest itself in banks and financial services firms” Financial Services Commission, Mauritius. 2013
  • “Reconciling efficiency and fraud avoidance in the public service” Ministry of Home Affairs, Mauritius. 2013
  • “A comparative analysis of bankers’ liability” University of Palermo, Italy. 2012
  • “Fighting Corruption – international initiatives and perspectives” and “Some misconceptions in the pursuit of economic crime – thinking out of the box!” at conference “Economic Crime – Surviving the Fall, The Myths and Realities”. Jesus College, University of Cambridge. 2012. 
  • Basel III and the Reform of Banking Regulation.” State University of Tyumen, Russia. 2012
  • “Some Remaining Risks” at conference “Basel III, the Vickers Report and Regulatory Restructuring”. Institute of Advanced Legal Studies, University of London. 2012

PhD supervision

PhD supervision carried out with regard to capital markets law, financial regulation and financial crime and oil and gas law, especially where it involves a financial element.

PhD supervisions completed

  • An analysis of corporate governance in the context of banking. Chun Pong Chung (Under submission)
  • An analysis of the dangers posed by trade based finance in the context of money laundering. Mohammed Naheem
  • Absolute liability, human rights and legal failing in the context of Nigeria. Ikenna Orajaka (Under submission)
  • The law and regulation of credit rating agencies: a comparative analysis of the UK and US positions. Mohammed Hemraj
  • The legal implications of off balance sheet financing: a comparative analysis of the UK and US positions. Peter Yeoh
  • An analysis of the law and practice of securitisation. Calvin Reis Roy
  • The role of the regulator, auditor and banker: the limits of regulation. Dalvinder Singh Sangha
  • Insider dealing and market manipulation: a comparative analysis of regulatory enforcement in the UK and US. Paul Fryer

PhD supervisions ongoing

  • The role of Sudanese laws in international commercial arbitration and the recognition and enforcement  of an arbitral award under the English and Sudanese systems
  • Basel III: limitations, problems and failings
  • A comparative analysis of the prosecution of financial crime in the UK and the US
  • An examination of legal issues in the context of pollution in Nigeria
  • Joint Venture and Production Sharing Contracts in Less Developed Countries
  • A comparative analysis of the use of plea bargaining
  • An analysis of the use of the death penalty in the Caribbean

PhDs examined

  • "The Role of International Financial Institutions in Promoting Stability in the Face of Financial Misconduct and the Possible Contribution that Islamic Finance can make to Stability.” Institute of Advanced Legal Studies, University of London. 2017
  • “Balancing the Interests Between TNCs and Host Developing States – the Role of Law.” Institute of Advanced Legal Studies, University of London. 2016
  • “Legal Aspects of Takeover Defence Tactics: A Comparative Analysis between the English and US systems.” Institute of Advanced Legal Studies, University of London. 2016
  • “Limited Liability: a Pathway for Corporate Recklessness.” University of Wolverhampton. 2016
  • “An Examination of the Development of Employees’ Rights in the context of Trade Union Activism.” Institute of Advanced Legal Studies, University of London. 2016
  • “Models for Compliance in the Financial Services Industry: Theory versus Practice – is a Best Practice Model Feasible in an Environment of Regulatory Flux?” University of Northumbria. 2016
  • “A Critical Examination of the Concepts of Frustration, Hardship and Force Majeure in English Law: A Proposal for Change.” Institute of Advanced Legal Studies, University of London. 2016
  • “Legal Issues Regarding the Electronic Transmission of Funds.” University of Plymouth 2013.
  • “The Fiduciary Obligations of Banks to their Clients – an Analysis of Old Law to New Circumstances.” Institute of Advanced Legal Studies, University of London. 2012
  • “Re-examining the Effectiveness of Formal Regulation of the Financial Sector Institutional Analysis with a case study of the Nigerian Banking Sector. University of Manchester. 2012
  • “The Mexican Experience with Financial Sector. Liberalization and Prudential Structural Reform.” Centre for Commercial Law Studies, Queen Mary and Westfield College, University of London. 2012
  • “Recovering the Proceeds of Grand Corruption” Institute of Advanced Legal Studies, University of London. 2010
  • “The relationship between prudential regulation and fiduciary based governancestandards.” Centre for Commercial Law Studies, Queen Mary and Westfield College,University of London. 2008
  • “Legal aspects of the provision of financial services through the internet.” Institute of Advanced Legal Studies, University of London. 2008.
  • “Stock market integration between the Hong Kong SAR and the People’s Republic of China - the use of revised ‘H’ share model and enhanced institutional support.” Centre for Commercial Law Studies, Queen Mary and Westfield College, University of London. 2006
  • “The regulation of insider dealing and money laundering in the European Union.”Institute of Advanced Legal Studies, University of London. 2005
  • “Secured debt and charged property.” King’s College, University of London. 2003.
  • “The impact of the EU single market on the politics and marketing strategies of US pharmaceutical companies.” Institute of Advanced Legal Studies, University of London. 2001.
  • “The social, legal and political consequences of money laundering.” Institute of Advanced Legal Studies, University of London, 2001.

Membership of professional bodies

  • Fellow, Royal Society for Arts
  • Fellow, Society of Advanced Legal Studies

Qualifications

  • BA (Hons) Law
  • Cert Ed
  • PhD
  • Hon LLD
  • FRSA
  • FSALS

Publications

Key recent books

  • Co-author (with Bazley) Financial Services Regulation and Risk Based Compliance, 3rd edition. Bloomsbury Professional. To be published 2018.
  • Author, The Law Relating to International Banking, 2nd edition. Bloomsbury Professional. To be published 2018.
  • Chapter “Legislation and Regulation in Response to Financial Crime – Pursuing Ghosts” in “The Financial Crisis and White Collar Crime – Legislative and Policy Responses.” Routledge, Ed Ryder. 2017. ISBN 978 1 13811 997 0
  • Editor and co-author. Financial Services Law Guide 4th edition. Bloomsbury Professional. 2014 ISBN 978 1 84766 978 0. (Due to changes in the financial regulatory system this is a new text, not an update of the 3rd edition).
  • Contributor. “Combating Money Laundering and Terrorism Finance: Past and Current Challenges” Ed Mavin Beekarry. Edward Elgar Publishing. 2013 ISBN 978 1 84980 751 7.
  • Author, The Law Relating to International Banking, Bloomsbury Professional. 2010. 560 pages. ISBN 978 1 84766 679 6
  • Author (with Bazley), Financial Services Authority Regulation and Risk Based Compliance, Tottel. 500 pages, 2007. ISBN 978 1 84592 2498
  • Editor and co-author. Financial Services Law Guide, 3rd edition. Tottel. 520 pages, 2006 ISBN 1 84592 139 9
  • Co-author. The Company Secretary. Lexis Nexis 110 pages. 2006. Updated 2010, 2013 and 2016. ISBN 0 502 11372
  • Analysis - Companies (Audit, Investigations and Community Enterprise) Act 2004. Current Law Statutes Annotated. Sweet & Maxwell. 2005. ISBN
  • Chapter 4 – The international response to the Money laundering threat, in A Practitioner’s Guide to International Money laundering Law and regulation. City & Financial Publications. 2003. ISBN  1 8988 30 68 1
  • Contributor – Blair: Banking and Financial Services Regulation. Third edition. Butterworths 2002. ISBN 0406949875 
  • Editor and contributor. Butterworths Financial Services Law Guide, 2nd edition. (Due to changes in the financial regulatory system this is a new text, not merely a 2nd edition of the first). 2002. Butterworths ISBN 0 406 895333
  • Co-author (8 Chapters) and co-editor – Butterworths Financial Services Regulation. (Six volume encyclopaedia of financial services Law) 2002. Updated 2003, 2004, 2007, 2010, 2013, 2014, 2016, 2017.   Butterworths. ISBN 0406 998 663 
  • Author (with Bazley and Blunden) – Risk Based Compliance. 2001. Butterworths. ISBN 0 406 932 506
  • Contributor – Chapter: Combating corruption in Developing countries in, Ethics, Integrity and Human Rights. Ed Pagon. College of Police and Security Studies. 2000 ISBN 961 6230 22 0
  • Contributor- Chapter: How is the human rights requirement to be met? In Corruption in Central and Eastern Europe at the turn of the Millenium. Open Society Institute, Ljubljana. 2000 ISBN 961 6278 10 X
  • Contributor – Anti Money Laundering Guide, Sweet & Maxwell, London 1999. Updated 2002, 2004. ISBN 0 86325 510 8

Key recent articles

  • “The Market Abuse Regulation, where does it leave us?” (11,000 words). Currently being considered by the Journal of Financial Regulation and Compliance.
  • “Securitisation and Currency Hedging under Islamic Shafi Law,  Part 2” with Reis-Roy. (10,000 words). To be published 2018, issue 2 The Company Lawyer. ISBN 0144-1027
  • “Securitisation and Currency Hedging under Islamic Shafi Law,  Part 1” with Reis-Roy. (10,000 words). To be published 2018, issue 1 The Company Lawyer. ISBN 0144-1027
  • The New Anti-Laundering Directive: the law moves on.” Butterworths Journal of International Banking and Finance Law. January, 2017. 30
  • “Banking Reform Struggles On”. Statute Law Review, Oxford University Press. ISSN 0144-3593. 2014 doi 10.1093/slr/hmu038 ®
  • “Financial Services: all change or new cosmetics?” (2014) 35 The Company Lawyer, Issue 5. ®
  • “The Burden of Proof in Market Abuse Cases” Journal of Financial Crime (2013), vol 20, Iss 4, p 365 - 392. ISSN 1388-7084. (15,000 words) ® “Highly Commended Paper Winner”, Emerald Publishing 2014
  • “Market Abuse, Fraud and Misleading Communications.” Journal of Financial Crime. Vol 19 Iss 3 pp 234 – 254 ISSN 1388-7084. July 2012. (9,000 words) ® “Highly Commended Award Winner” Literati Network Awards for Excellence 2013
  • “Are the anti-laundering laws failing?” Butterworths Journal of International Finance and Banking Law 2011
  • “Misleading Communications, the Unnoticed Danger” The Company Lawyer 2010. ISBN 0144-1027. ®
  • “Where there’s muck there’s brass: a study of virtual stock exchanges” The Company Lawyer 2009. ISBN 0144-1027. ®
  • “Market Abuse, Northern Rock and the Bank of England.” Journal of International Banking Regulation, vol 10, no 4 p321 – 334. ISSN 0267-937X. 2009 (7,500 words approx) ®
  • "Anti-money laundering laws: from failure to absurdity." "Journal of Money Laundering Control" vol 11 No 4, 2008. ISSN 1386-5201 (7,500 words)
  • Market abuse, an analysis of its nature and regulation. (15,000 words approx). The Company Lawyer 2007, vol 28 No 11 pages 323 –335 ISBN 0144-1027. (12,500 words approx).
  • The Wolfsberg Principles – self imposed Codes of Practice. The Company Lawyer. Vol 26, no 8 pp 227 – 234. ISBN 0144-1027. (7,500 words approx).
  • The impact of risk based compliance theory on banks. Journal of Banking Regulation. ISSN 1465-4830 (8,000 words approx). Vol 6, No 2, pp 146 – 162. 2005.
  • The Wolfsberg Principles – an analysis. Journal of Money Laundering Control. Vol 7. No. 3, 2004. pp 1-11. ® ISSN 1386-5201. (6,500 words approx). Previously published as a conference paper, Jesus College, University of Cambridge, 2003.
  • Co-author, The funding of terror: the legal Implications of the financial war on terror. Journal of Money Laundering Control, 2003 ISSN 1366-5201. (41,000 words approx)
  • Money Laundering and the Law, and Checking identity, spotting suspicious Transactions and making a report. Both in The Notaries Society Journal. Spring and Summer 2002. (3,500 words approx).
  • Combating Corruption – a Comparative Analysis. Journal of Financial Crime. Vol 8, No 2, 2000 pp123-135. ISSN 1388-7084 (8,700 words approx). 

Experience in industry

Consultancy and/ or training has been provided to the Governments of the People’s Republic of China, Hong Kong, Macau, Malta, Mauritius, Turkey, the Sudan and the United Kingdom, together with advice on the drafting of the Money Laundering (Proceeds of Crime) Bill 2006 for Ghana. It has also been provided to a range of investment banks and major law firms.

In addition, he has given evidence to the House of Lords’ European Union Committee on Money Laundering and the Financing of Terrorism.

Further information

Teaching interests

  • Capital Markets Law
  • Financial Regulation
  • Financial Crime
  • Oil and Gas Law

External academic roles

Professor Haynes also holds a number of editorial positions including: Executive Editorial Board, The Company Lawyer, and the Journal of Financial Crime. Until 2015 he was a member of the editorial team of Amicus Curiae and until 2012 was on the executive editorial board of the Journal of Banking Regulation. He is also a member of the Editorial Advisory Board of the Transactions of the Centre for Business Law at the University of the Orange Free State, South Africa.