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 weight of individual accountability will soon cover the entire British financial landscape after authorities revealed plans Wednesday to expand the management conduct regime to all 56,000 firms under their watch, prompting attorneys to warn of a new era of enhanced compliance.
McGuireWoods LLP has expanded its London office with the addition of a highly regarded partner from King & Wood Mallesons, tying into its strategy to meet growing demand for U.S.-style leveraged financings in the U.K.
The European Central Bank published a draft regulation on Wednesday on statistical reporting requirements for pension funds in a bid to increase transparency and improve data comparability.
A U.K. judge on Wednesday tossed Russian Federation demands that Ukraine should hand over $325 million as security in exchange for not attempting to enforce its London High Court win in a dispute over $3 billion in unpaid Ukrainian bonds.
Most U.K. board members assume that if they do nothing dishonest or recklessly stupid, the organizations they serve will stand by them in the event of threats to their personal liability. This assumption may not be safe, considering the marked increase in regulatory investigations involving both individuals and companies, says Francis Kean of Willis Towers Watson PLC.