Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.
Dechert LLP announced on Monday that it has hired a coporate finance partner from Kirkland & Ellis LLP to join its London office, further bulking up its private equity practice following other similar hires in the past six months.
The European Central Bank will be keeping a close eye on how U.K. banking groups structure their euro-area entities post-Brexit amid the increased risk of regulatory arbitrage, an executive board member at the central bank said on Monday.
The Bank of England said Monday it will subject the U.K.’s biggest banks to an additional test of their ability to weather a deep economic slump as the country prepares for the impact of leaving the European Union.
The U.K. Labour Party wants the government to preserve all key attributes of its European single market membership and to secure a “bankers’ Brexit” that meets the needs of financial services, the party’s top Brexit spokesman said Monday.
A former Barclays trader accused of attempting to manipulate a key global interest rate benchmark in a bid to boost profits told a London court on Friday that a successful rig would only have a “small” impact on his desk’s position and that he made requests just because they “couldn’t hurt.”