The FCA’s top criminal lawyer is leaving to join Hogan Lovells ahead of a raft of insider dealing cases brought by the regulator.
Claire Lipworth, who has been chief criminal counsel for three years, will become Hogan Lovells financial services team partner in April, according to the Financial Times.
Lipworth has overseen cases including the FCA’s Operation Tabernula, an eight-year insider trading case that cost the regulator £14m and led to five convictions.
The FCA has 54 more live investigations into insider trading.
Hogan Lovells’ equity partners earned an average of £700,000 last year.
Lipworth’s replacement has not been announced.
Her departure echoes that of her predecessor, David Kirk, who left for fellow US law firm McGuire Woods.
The FCA has come under fire before over the loss of its top talent.
Last August Rory Percival, a technical specialist at the FCA, announced he was leaving the regulator after 10 years to become a consultant.
He was previously a training and compliance officer at Fiona Price & Partners, and prior to that was a financial adviser.