Nick Bayley is a managing director within Duff & Phelps’ Regulatory Consulting practice, specializing in wholesale markets. He has over 30 years of experience working in the financial services industry, in professional services and with regulatory and law enforcement bodies.

Nick leads numerous regulatory remediation projects for clients covering matters such as market abuse, regulatory reporting, conduct of business, transparency, conflicts of interest and governance.

Nick also leads Duff &Phelps’ MiFID II initiatives including:

  • Overseeing firms’ MiFID II implementation programmes,
  • Providing MiFID II readiness advice to a wide range of clients including buy and sell-side firms, infrastructure and technology providers and
  • The development of Duff & Phelps’ MAST MiFID II analysis tool.

He also acts as an expert witness on FCA markets enforcement cases and provides strategic advice, training and regulatory remediation for UK Recognized Investment Exchanges (RIEs). 

Prior to joining Duff & Phelps in February 2016, Nick was a Head of Department (HoD) in the FCA's Markets Policy & International Division. He was the FCA’s Senior Markets Adviser and was responsible for the FCA's MiFID II Policy Project. Nick’s responsibilities also included sitting on senior-level FCA committees such as the Policy Steering Committee and Markets Regulatory Committee, providing independent HoD challenge to FCA Supervisory assessments of firms and acting as Settlement Decision Maker on FCA Enforcement cases.

Whilst at the FCA Nick also worked for 3 years in the Enforcement Division, where he oversaw a wide range of wholesale markets cases, both regulatory and criminal, against individuals and firms, including LIBOR manipulation cases, insider dealing, market manipulation and misleading statements by issuers.

Before joining the FCA, Nick was Head of Regulation at the London Stock Exchange (LSE) for nine years, where he had responsibility for the regulation and oversight of all the LSE's markets.

Nick's other areas of expertise include corporate fraud, regulatory investigations and financial crime, having spent six years with KPMG’s Forensic Accounting department and seven years as a senior officer in HM Customs & Excise's National Investigation Service. 

Nick is an Associate of the Chartered Institute of Bankers (ACIB). He holds a Diploma in Regulation & Compliance from CISI and BSc (Hons) in Physics from Exeter University.

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