Stephen Elam

Stephen is an experienced disputes and regulatory lawyer, with a particular focus on financial services and banking related disputes, as well as regulatory matters, heading the firm’s regulatory practice.

He has a particular focus on crypto and blockchain, acting for crypto exchanges and coin issuers in litigation – including the defence of novel substantive actions brought against exchanges – and related asset-tracing actions, contractual disputes and broader risk management issues.

Stephen also advises crypto firms extensively on the evolving law and regulation of cryptoassets, and the practical demands of regulatory engagement required by the crypto sector.

In traditional finance, Stephen has extensive experience acting for a variety of FCA-regulated firms, including hedge funds, brokers, payment service providers and investment managers. Stephen has previously worked in-house at a global derivatives broker-dealer, where he was responsible for litigation and contentious regulatory matters. He brings his product and sector knowledge to bear on a wide range of complex disputes and regulatory issues.

Stephen also has significant experience of professional negligence matters, involving professionals in a number of disciplines. He also regularly advises on a broad range of pensions related disputes.

Background

Stephen qualified as a solicitor in September 2003. He trained and qualified at Barlow Lyde & Gilbert, working there on a variety of commercial litigation and professional negligence matters, before joining the London office of Fulbright & Jaworski (now Norton Rose Fulbright) in 2008. He moved to MF Global in 2011, and joined Cooke Young and Keidan in 2014.

Stephen read Law at Magdalen College, Oxford and completed the LPC (also in Oxford) with distinction.

What the legal directories say

Stephen is ranked as a Leading Individual for Cryptoasset Disputes by Chambers & Partners (as part of CYK’s Band 1-ranked practice) (2024), where he is described as “unflappable, very analytical and detail-driven”. He is also ranked as a Next Generation Partner by Legal 500 for Banking Litigation and Commercial Litigation.

He is a “key name” for contentious financial services and is recommended for his “thorough knowledge of financial services industries, especially broking”. Stephen is described as having “excellent judgment” and being “sensitive and proactive in relation to client’s needs and commercial ends”.

Legal 500 describe Stephen as “the top choice for litigation involving exchanges or trading”, “very bright and utterly charming” and as a “very safe pair of hands in relation to regulatory enforcement work”.

Professional groups

Stephen is a member of the Law Society of England and Wales and the London Solicitors Litigation Association, Financial Services Lawyers Association, Professional Negligence Lawyers Association and the Association of Regulatory & Disciplinary Lawyers.