About
Omar Salem is a financial services and technology partner who works with ambitious businesses at every stage of growth, from initial authorisation and fundraising through to scaling and international expansion. He helps clients turn their plans into action, whether getting authorised, launching a product, negotiating a new commercial relationship, responding to regulatory change or carrying out M&A.
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Omar’s advice is practical and grounded in how businesses operate. He spent more than a decade in private practice at Linklaters before serving as Head of Legal and subsequently General Counsel at an FCA-authorised FinTech. His in-house experience gives him first-hand insight into the pressures facing management teams in fast-growing businesses and the trade-offs they face.
Passionate about technology and its potential, Omar is an active member of the FinTech ecosystem and engages regularly with founders, investors and trade associations in the sector. He particularly enjoys working with businesses using technology to rethink how financial services are delivered. His aim is to help clients meet their legal and regulatory obligations while supporting them to innovate and deliver for their customers.
Omar advises banks, FinTech firms, trading platforms, payment firms, digital asset businesses, insurers and InsurTech providers, asset managers, regulated lenders and venture capital firms. His practice spans UK financial services regulation, commercial contracts, outsourcing, data protection and GDPR, as well as AI regulation and governance, giving clients a single adviser across key areas of their business. He also offers fractional General Counsel services to companies that need senior legal leadership without the overhead of a full-time hire.
Omar has in-depth knowledge of FCA and PRA regulatory requirements, including the scope of regulated activities and the working of the Senior Managers and Certification Regime, as well as product-specific regulation such as MiFID II, the Payment Services Regulations, AIFMD and the Consumer Credit Act 1974. He advises clients on engaging effectively with regulators, government and policymakers, including preparing for meetings and supervisory discussions, responding to consultations, and helping firms present their position clearly and credibly.
Omar has advised leading private equity firms on regulatory due diligence and change in control matters in M&A transactions. He also advises on regulatory enforcement matters and investigations, and has experience advising in this area on payment protection insurance, ‘mortgage prisoners’, conflicts of interest and foreign-exchange trading.
Omar is a member of the Regulatory Law Committee of the City of London Law Society and a member of the City of London Solicitors’ Company. He writes regularly on legal and regulatory issues for City AM and has also written for iNews, the Oxford Business Law Blog and the Journal of International Banking Law & Regulation, amongst others.
Practices
Banking and Financial Services
Broker-Dealer Regulation
Capital Markets
Commodities, Futures & Derivatives
Environmental, Social & Governance (ESG)
FinTech and Blockchain
Government Affairs
Insurance
International Insurance Regulatory and Transactional
Private Equity
Regulatory Law & Government Contracts
Admissions
England and Wales
Education
London School of Economics, Executive LLM in Financial Law & Regulation
University of Law, GDL, LPC, and LLB
St. Hugh’s College, University of Oxford, BA (Hons) in Philosophy, Politics and Economics
Memberships
Royal Society of Arts
Experience
Fox Williams LLP
Linklaters LLP
Representative Experience
Advised clients on regulatory aspects of transactions with a value of over £23 billion, including purchase of major mortgage and consumer credit books
Advised major trade association on CCA 1974 compliant template agreements
Conducted cross-jurisdictional survey to advise a leading cryptocurrency platform on licensing requirements
Advised top-tier investment bank on SMCR related governance requirements
Advised major retail bank, exchange and asset manager on Brexit licensing
Advised administrators on application of the CASS rules to a major insolvency
Advised major credit rating agency on design of its senior management framework and matrix reporting
Advised on compliance with MiFID II across a wide range of requirements, including transaction reporting, best execution, recording keep and costs and charges
Advising on the safeguarding requirements applicable to electronic money institutions, including in relation to communicating with customers about these
Advising on the PSR’s requirements for APP fraud reimbursement
Leading and implementing project for compliance with the consumer duty
Advising on the FCA’s requirements for risk management by electronic money institutions, including the EBA operational and security risk requirements
Head of Legal and then General Counsel at leading fintech FCA authorised electronic money institution