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.
German prosecutors said Friday they will not extradite four Deutsche Bank traders to the U.K. to face charges that they manipulated a key European interest rate benchmark.
The last week has seen hundreds of new claimants bring competition suits against Visa and MasterCard, Italian bank Dexia lodge a claim against a Sicilian city still staring down a pre-crisis-era derivatives contract, and the liquidator for an FCA-targeted carbon credit investment scheme file a negligence claim against Nabas International Lawyers LLP.
An investment company has asked the High Court of England and Wales to intervene in its dispute with a former director whom it fired for “mismanaging” the business and is now allegedly refusing to return important company documents.
A U.K. High Court judge in London handed British retailer Sainsbury’s Supermarkets Ltd. a minor victory on Friday ahead of an April appellate court hearing in its long-running action against Visa Inc., ruling that swipe fees charged by the credit card company are not exempt from European Union competition rules.
The European Commission is set to propose legislation in March for an integrated covered bonds market for the European Union as part of a wider effort to bolster the bloc’s capital, a senior EU official said Friday.