A top international securities watchdog on Monday urged national regulators to keep a close eye on the so-called loan fund industry after identifying risks associated with the growing shadow-banking market.
European Union governments are expected to bridge their differences on Tuesday to adopt controversial new rules designed to stop big banks and businesses from exploiting disparities between national tax regimes, the European Commission said Monday.
A senior European Central Bank official said Sunday that Europe, unlike the U.S., does not plan to relax the new regulations that have been imposed on banks since the financial crisis.
European Union targets for financial institutions’ ability to absorb losses with easily written-off debt are to become binding and could include bank-specific features in the future, the bloc’s bank resolution authority said in a report published Friday.
Failure to have secured a transitional deal for U.K. clearinghouses in time for Brexit could disrupt financial markets and dramatically force up costs for banks and customers across the European Union, according to a new report released Monday.
Banks are hoping for a post-Brexit transition period, but lawyers have warned them to prepare for the worst. Here, attorneys share four key considerations for U.K. financial institutions that could help prevent costly mistakes and a legal quagmire in the $5.3 trillion-a-day derivatives market.
The European Union's antitrust watchdog plans to investigate a new deal the British government revealed Friday to spare the Royal Bank of Scotland PLC from having to divest a final set of retail banking operations to balance out the state aid it received during the financial crisis.
The U.K.’s Financial Conduct Authority has ordered an online retail business to pay £12.5 million in redress to customers who were sold general insurance with “little or no value,” the regulator announced Friday.
The chairman of a group of luxury overseas property development and investment companies that has taken around £450 million ($559.3 million) in deposits chiefly from pension funds — for projects that were often never finished — was charged Friday by the U.K.'s Serious Fraud Office with three counts of fraud.
A European unit of Daiwa Securities Group Inc. was ordered to pay $153 million to a defunct investment firm owned by Saudi billionaire Maan Al Sanea, after London’s High Court found Daiwa negligently breached its duty of care in handing over more than $200 million in company funds to Al Sanea with scant regard for its purpose.
Jenner & Block has raided White & Case for a second time to boost its fledgling London practice, recruiting a City litigation attorney, the U.S.-based law firm said Friday.
The European Banking Authority rejected proposals Thursday from the European Commission to change its guidance for firms required to separate their payment card schemes and processing entities under new credit card swipe fee regulations, saying they were too "restrictive" and went beyond the original mandate.
The European Central Bank plans to change the templates banks use to report information to regulators to include financial losses anticipated in the future, the bank said Friday.
International law firm Slaughter and May announced Friday that it has made a lateral partner hire with the addition of Herbert Smith Freehills LLP’s former high-flying pensions head.
The U.K. is pushing for an extended exemption for financial services from European Union tax-avoidance reforms aimed at preventing multinational firms from exploiting disparities between national tax regimes, two EU officials familiar with the situation told Law360 Thursday.
International law firm Simmons & Simmons LLP has further expanded its capital markets group with the addition of a former Cleary Gottlieb Steen & Hamilton LLP partner at its London office, the law firm announced Friday.
The European Union's antitrust watchdog said Wednesday it may launch a review of competition issues involving loan syndication, when multiple lenders join together to provide one loan, as financial services continues to be a priority for the enforcer in 2017.
The European Union is at odds with the Trump administration over financial regulation, and lawyers tell Law360 a U.S. rollback of laws installed since the last financial crisis could destabilize a fragile global banking sector.
Britain’s financial regulator on Thursday outlined a raft of changes to its rulebook covering credit risk mitigation in anticipation of impending European Union capital requirements for banks and financial institutions.
A group of major U.K. retailers trying to overturn their loss in an antitrust swipe fee claim against MasterCard Inc. will have to embark on the longer process of going directly to London's Court of Appeal, after the trial judge refused Thursday to let them challenge his ruling.