Adam Topping is a partner based in our London office. Adam sits in the firm's Commodities and Financial Regulatory teams, where he advises financial institutions, hedge funds, energy companies, utility groups and corporates on a variety of regulatory and transactional matters with a particular focus on the commodities sector, including the crossover with digital trade. Adam has extensive experience advising clients on UK and EU financial services rules, commodity market rules, licensing and related compliance issues, including under MiFID II, EMIR, REMIT and MAR and related changes that occurred as a result of Brexit. His practice also encompasses broad derivatives experience, including structured transactions across commodities and other asset classes, cross-border finance and security arrangements, and general trading matters.

Adam has spent over a decade advising clients on the carbon markets, including the development and impact of market rules, the regulatory treatment of carbon products and general trading issues arising in connection with a range of exchange traded and "over the counter" products. These include European Union Allowances (EUAs) under the European Union Emissions Trading Scheme (EU ETS), transferrable units under the Kyoto Protocol (CERs, ERUs), "voluntary" carbon offset products, and Upstream Emissions Reductions (UERs) under the Fuel Quality Directive.

Prior to joining HFW, Adam spent five and a half years in the London office of a U.S. law firm, working in their Energy and Commodities Group. He also has spent time seconded to two major international investment banks, where he advised on a range of transactional and regulatory matters arising out of the entry into new markets and product areas.

Before moving to private practice, Adam spent two years in-house at BG Group plc (now part of the Shell group) working on a variety of international oil, gas and LNG projects, as well as assisting with the negotiation of energy documentation across the supply chain.

Adam has authored and contributed to a number of articles on a range of legal and regulatory issues, impacting the commodities and derivatives markets in the UK and EU, including issues relating to cryptocurrencies and the application of technology based solutions to commodities trading.