St Paul’s Way kids learn how Nomura lawyers keep bank’s clients in check

Schoolkids in London’s East End are getting the low-down on what the big banks tell their corporate financial trading clients with lawyers breathing down their necks.

They have been involved in a pilot programme about banking practices in the wake of legislation now going through Parliament making ‘whistle-blowing’ a legal duty for anyone working in financial services if they spot malpractice.

Youngsters from St Paul’s Way Trust School in Bow Common took part in a workshop for A-level economics students on how financial institutions in Canary Wharf and The City make sure they don’t breach the rules.

The workshop held at Nomura investment bank was run by Tower Hamlets Education Business Partnership to test a Level 3 qualification it hopes to offer sixth-formers later this year.

Nomura’s own compliance lawyer Piers Le Marchant gave the pupils an insight to the bank’s operations.

“Lawyers are the people who put the deals together and do the litigation,” he told them. “The good thing is you advise people what they can or can’t do, following a whole rule book on how to act.”

The youngsters were put through their paces on a practical case study, having to weigh up risks and benefits to make a legal recommendation—but no-one blew the whistle on them.