Jonathan Foster
Jonathan began his legal career in general common-law practice at the bar. He later worked with several US law firms on international insurance fraud litigation. In 1988 he joined the legal function at Lloyd's of London, the insurance market, where he managed the enforcement function, drafted secondary legislation and advised on insurance and public law matters. . He was seconded to act as Secretary to Sir David Walker's Inquiry into investor participation at Lloyd's and the LMX spiral.
In 2002 Jonathan moved from a position as an in-house lawyer with an international financial services group to the Financial Services Authority. There he managed a team of lawyers which advised on policy and supervision matters regarding investment, banking, insurance and mortgage conduct of business, the FOS and the FSCS. The work included the European regime for regulating insurance selling; banking and building society resolutions following the 2008 financial crisis; work with the Law Commission on the Consumer Insurance (Disclosure and Representations) Act 2012; and with CEIOPS (now EIOPA) as part of an EU-wide working group tasked with revising the IMD.
Between 2012 and 2015, following a short secondment to the European Commission, as a lawyer at the European Securities and Markets Authority Jonathan advised on a range of European law matters within ESMA's remit, and was appointed Independent Investigating Officer for investigations under the Credit Ratings Agencies Regulation.
Jonathan is in independent practice at the Bar, practising through MondiaLaw Limited. He is an international trade law specialist in financial services. Following his return from ESMA to the Financial Conduct Authority and the vote to leave the European Union, he became the lead lawyer for international trade law at the FCA, working with the Bank of England and HM Government on the financial services elements of international trade proposals. He left the FCA in Summer 2021. He continues to work with HM Government as independent counsel.
Over 30 years of experience
In financial services regulatory law