Miller Shah LLP Managing Partner James E. Miller Addresses UK All-Party Parliamentary Group on Financial Regulation

by Tracy Feldman

James E. Miller, Managing Partner of Miller Shah LLP, called for stronger collective redress mechanisms and effective whistleblower programs during remarks to a UK All-Party Parliamentary Group (APPG) on June 15, 2026. The meeting brought together members of Parliament and the House of Lords to examine financial regulation. Alec J. Berin and Christopher A. Miller of Miller Shah LLP attended alongside Mr. Miller, as did Nick Clarke and David Harries of Aaron & Partners LLP.

Turning to the broader policy debate, Mr. Miller questioned whether deregulation is the right path to growth. He cited two areas of systemic risk. Private credit and shadow banking now account for roughly 1.2 trillion pounds in largely unsupervised lending in the United Kingdom. Meanwhile, close to 50% of UK defined-contribution plans hold nearly half of their assets in U.S. equities, a market that many commentators have described as a bubble, with price-to-earnings ratios above those observed in 1929. In his view, regulation aimed squarely at these risks may serve the years ahead better than loosening the rules in markets that already appear, by U.S. standards, lightly regulated.

Mr. Miller also shared news of the firm’s expanding UK presence. Miller Shah LLP and Aaron & Partners are forming a joint venture law firm, currently seeking approval from the Solicitors Regulation Authority (SRA), to represent victims of financial fraud in England and Wales. The venture will concentrate on financial services and retirement matters, drawing on Miller Shah’s experience in the United States representing retirement plans, plan participants, and whistleblowers.

Mr. Miller closed by expressing appreciation to the parliamentarians, to Andy Agathangelou of the Transparency Task Force, and to his fellow participants for their insightful presentations and for the APPG’s important ongoing work.