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 Deutsche Bank sue a British law firm, a new insolvency filing by a Lehman creditor against the defunct bank's trustees and a dispute between an insurance-backed guarantee underwriter and a Lloyd's broker. Here, Law360 looks at those and other new claims in the U.K.
The prosecution of HSBC’s former global head of foreign exchange spot trading — whose trial begins on Monday in the Eastern District of New York — will test whether the government can turn sharp dealing and deception in the unregulated institutional spot forex market into criminal fraud, says Scott Schirick of Pryor Cashman LLP.
The U.K.'s antitrust watchdog on Friday said it has approved Texas-based Cardtronics Inc.'s $460 million acquisition of DirectCash Payments Inc. after an independent panel found that various factors could prevent the pair from hiking surcharges at their ATMs.
The Financial Conduct Authority has formally validated the terms on which a new industry working group will operate as it seeks to agree on new disclosure templates for asset management services provided to institutional investors.
The European Union’s chief Brexit negotiator welcomed Theresa May’s “constructive” speech on Britain’s exit from the EU on Friday, but urged the U.K.'s prime minister to swiftly establish a precise negotiating position.