It’s that time of the year again. Chambers has announced that they are accepting Fintech Legal submissions until May 25, 2022. 

What is considered Fintech?

Chambers considers Fintech any matter involving leading payments, blockchain, cyber security and data protection as it relates to start-up and scale-up FinTech businesses, tech and financial services firms and investors. 

What’s new this year

This year, Chambers has added additional jurisdictions in their research. To see if your jurisdiction is included in this category, search for FinTech Legal on the Chambers Research Schedule. 

In addition, Chambers will also have a new category for disputes work involving cryptocurrency and NFTs: Crypto-Asset Disputes.  

Chambers will research this practice area in the UK and US, and they invite firms in these jurisdictions to send submissions. Firms and lawyers in other jurisdictions should continue to include this work as part of their FinTech Legal submissions.

What are they looking for?

While there is no “secret formula” for a good submission, there are ways to make your firm stand out. For Chambers, the most important part of any submission is the work highlights.  Presenting novel, complex and precedent-setting cases in a clear and concise way will be sure to grab the researcher’s attention. You can find more information and template forms here. 

At a close second is the list of referees. Firms should be prepared to carefully select referees who can speak about the firm in detail and have the time to do so. Most referees should be clients of the firm but, the list can also include fellow lawyers and professional advisors. 

You’ve submitted, now what? 

Once the Chambers has received your submission, there will be a research period that includes contacting referees and wider market research. It is important that every firm contacts their referees to inform them that they should be expecting a call from Chambers. Generally, the researcher will ask the referee a variation of the following questions:

  • How did the client begin working with the firm?
  • Was the work done by the firm sophisticated or complex? 
  • What do they think of the practice, bearing in mind client service, commercial awareness, bench strength and delivery to budget?  

It is highly recommended that firms keep their referees informed to help increase their engagement with the submissions process. For more information on tips for a successful submission, check out the FinTech Submissions Process kit. 

Good luck to all and we will be sure to update you in December when the rankings are published!