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Wendy Saunders

Wendy Saunders

Senior Associate

Wendy specialises in contentious and non-contentious financial services and markets law and regulation.



On contentious matters Wendy draws on her in-depth experience and insight gained during four years within the Financial Services Authority's Enforcement Division to provide informed and strategic advice and guidance to clients.  Her work in this area has included a secondment to the group regulatory team of a leading retail bank and she has acted as lead associate managing a large and complex matter.  

On non-contentious matters Wendy recently completed a one-year secondment as senior regulatory risk lawyer within the central compliance team of a global investment bank.  In this role she provided support to all the group's businesses including capital markets, asset management, commodities and securities, and asset finance.  

Wendy's work included regulatory horizon scanning with updates to businesses and various management committees, reviewing outsourcing arrangements including policies, processes and agreements, assisting in a post-MAR implementation review, scoping the impact of the EU Benchmark Regulation, transactional regulatory support, preparing change in control applications, reviewing the compliance manual and oversight for various regulatory applications and communications.  

Wendy also provided substantial regulatory input into group wide projects including conduct risk, Brexit, and MiFID II implementation focussing on investor protection.  

Wendy has advised a range of other clients in relation to MiFID II implementation, payment services regulations, outsourcing and client money.  

Spanning both contentious and non-contentious areas Wendy has advised on a number of matters concerning market abuse and contributed to the Practitioner's Guide to the Regulation of Market Abuse.  

Wendy also advised on the Salz Review concerning culture and governance at Barclays.


Wendy graduated in 2001 from University College, Oxford with a BA in Jurisprudence and French Law then completed the Bar Vocational Course prior to qualifying as a solicitor in the Enforcement Division of the Financial Services Authority. Wendy joined Herbert Smith Freehills in July 2012.

She is a member of the Financial Services Lawyers Association.