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.
The last week has seen a contract dispute erupt between Russia's Sberbank and a fellow state-controlled bank in Azerbaijan, Greece's Alpha Bank sue more than a dozen Lloyd's syndicates, and underwriters and Lit Securities take on Morgan Stanley.
A parliamentary committee in Europe urged the European Central Bank on Thursday to “respect” the current legal framework as it goes through the motions of bringing central counterparties within its direct regulatory scope.
HSBC Holdings PLC said Friday it is turning its back on funding high-carbon energy projects as the bank looks to ease pressure from activists and regulators who want financial services firms to step up their response to climate change.
Britain’s Chancellor of the Exchequer Philip Hammond called on international financial services and insurance regulators on Friday to impose tighter sanctions on North Korea to help put a stop to dirty money used to fund weapons of mass destruction.
An investment firm embroiled in a dispute with Dana Gas PJSC over Islamic bonds told a London judge on Friday that it was in a “profoundly unjust” position after a court in the Emirates contradicted a U.K. injunction by ruling that the energy company can pay a dividend to its shareholders.