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Michael McKee

Senior Consultant

Michael McKee is Head of the firm's European Financial Services Regulatory practice. The team handles both contentious and non-contentious regulatory issues for clients across the full spectrum of financial services.

He has over 30 years' experience in the financial services sector having practised at major international law firms in London and with several years of in-house experience at Citigroup where he provided legal advice to the trading floor and other parts of the business.

Michael also has wide-ranging experience of banking and investment banking issues having worked for some years as Executive Director at the British Bankers Association where he led the negotiation of major European Directives such as the Markets in Financial Instruments Directive and the Market Abuse Directive on behalf of the banking industry in the UK. He also has a deep understanding of payments law and led the implementation of PSD across more than 20 countries for a major UK bank. His deep understanding of financial services law and regulation includes a wide range of contacts within the Prudential Regulation Authority and the Financial Conduct Authority and contacts with regulators across Europe and elsewhere.

In addition, Michael has extensive experience of private banking and wealth management including fund regimes such as AIFMD. He has worked for many non-European fund managers entering Europe advising them about the requirements for funds and other wealth products and also on the set up of fund structures in the UK and Europe particularly Luxembourg and Ireland.

In February 2012 he was appointed as a member of the Executive Board of the International Regulatory Strategy Group of CityUK and the Corporation of London. The IRSG develops the UK financial services industry's position on a range of important international regulatory issues. Michael is currently a member of the IRSG Council.

Michael also has a broad experience across a wide range of payment schemes and payment services working with clients for many years. Clients include major banks and payment institutions operating globally and across Europe as well as within the UK together with a range of clients purchasing payment services from payment services providers. Michael has advised with regard to the role of the Bank of England and The UK Payment Services Regulator in relation to UK payment schemes and also with regard to the application of EU law to payment services across Europe.

He has worked on many payment schemes, including BACS, Faster Payments, CHAPS, SEPA CT and DD, Target 2, SWIFT, CREST, LIPS, Link, Vocalink IAD, Visa, Mastercard. He also worked on the implementation of the Payment Services Directive/PSRs for NatWest Group operating across more than 20 countries in Europe. The work involved multiple banks within the group and also multiple divisions offering payment services and was a two year project of mandatory regulatory change including dealing with ongoing policy developments and implementation changes at the EU and national level.

Michael also provided the external advice and documentation for the adherence of eight NatWest Group banks to SEPA and provided the external advice to NatWest relating to the regulatory aspects of the divestment of WorldPay including obtaining the authorisation of WorldPay as a payment institution.

Professional QualificationsSolicitor of the Senior Courts of England and Wales


Michael’s recent experience includes advising:

  • A UK bank on its membership of BACS and amendments to the BACS scheme including the risks for the bank associated with these amendments.
  • The operators of the LIPS scheme on the payments regulatory framework in the UK and how it applies to that scheme.
  • A European client on the UK payments schemes and the UK payments regulatory environment and their application to the business of Vocalink.
  • A UK bank on its membership of the Faster Payments Scheme including the risks for the bank associated with membership of that scheme.
  • On mobile payments issues including mobile payment apps and agreements to provide mobile payment services.
  • A payment institution on regulatory issues associated with its membership of Visa in the context of the acquisition of Visa Europe Limited by Visa Inc.
  • A UK banking group on the requirements of 20 UK, Irish and pan-European payment schemes in the context of the bank's reorganisation in preparation for UK ring-fencing within its group.

Additional payments related experience of Michael can be provided if required.

  • Queen's University, Belfast, LLB, 1st Class Hons, 1984
  • Queens' College, Cambridge, LL.M, 1st Class Hons, 1986
  • Queen Mary College, University of London, Post-Graduate Diploma in International Arbitration, Distinction, 1990


Michael won awards for his work on financial services regulatory matters including, in particular, the implementation of the Markets in Financial Instruments Directive.


Michael is a frequent speaker and commentator on financial regulation.

Memberships And Affiliations

  • Liveryman of Worshipful Company of International Bankers
  • Member of Chartered Institute of Arbitrators.