Barclays won approval from the High Court in London on Friday for plans to place its 230,000-member pension scheme within its investment banking arm under new ring-fencing rules due to take effect in 2019.
The European Banking Authority is seeking industry feedback on proposed guidelines that set out how lenders in the European Union can effectively cut back the €850 billion ($1.05 trillion) mountain of bad debt that is weighing on the bloc’s banking sector.
The European Commission is investigating whether the British government is infringing European law over the way it taxes some commodity derivatives when they are traded on an exchange, HM Treasury said on Friday.
Gibraltar financial services firms will be guaranteed access to the U.K. markets until 2020 under the terms of an agreement signed by both governments on Thursday as the two regions sought to bring certainty to their relationship after Brexit.
The U.K. High Court said Thursday that Oceanwood Opportunities Master Fund has the right to instruct Citibank over how to dispose of €290 million ($357 million) of debt securities issued by a Norwegian paper mill, finding the investor did not control the company despite holding most of the debt.
Europe is not doing enough to fight money laundering and should consider creating a dedicated authority to combat the circulation of illegal funds in the European Union’s banking system, the head of the European Central Bank said Thursday.
The Court of Appeal has ruled that professionals are bound by higher expectations of integrity beyond “mere honesty,” as it dismissed a solicitor’s attempt to shake a disciplinary action over his conduct dealing with his firm's £930,000 ($1.3 million) debt to HBOS PLC.
Axa SA has said Genworth Financial Inc.’s counterclaim against it in a payment protection insurance lawsuit fails because the French insurer did not require the U.S. firm’s consent before paying compensation over the missold product, according to documents filed with the High Court on Tuesday.
A U.K. asset management firm has said it set aside £1 million ($1.4 million) for an ongoing Financial Conduct Authority antitrust probe that accuses the firm and three others of disclosing inside information ahead of two initial public offerings and a share placing.
The European Securities and Markets Authority has finally published a list of stocks which will be subject to limits in so-called dark pools from March 12 as the European Union pushes for increased transparency in the private exchanges.
The European Commission announced on Thursday that it will introduce new rules to steer banks and other financial institutions toward environmentally-friendly finance and investment, including introducing a stamp of approval to help identify "green" financial products.
The European Commission unveiled proposals on Thursday to make it easier for crowdfunding platforms to back financial technology startups across the European Union, part of a new plan to harmonize rules for national regulators overseeing the fast-developing sector and its funding sources.
A group of Mexican former shareholders in Banco Popular Español SA, which was restructured last summer and sold to Banco Santander for a token €1, asked a New York federal court Tuesday for its help in tracking down information needed for an upcoming arbitration against Spain over its alleged role in the sale.
The leading international policy forum for securities regulators proposed recommendations on Wednesday aimed at countering extreme stress to the securities markets.
A London judge ordered Lloyds Bank on Wednesday to disclose documents that a car auction company says will show its business was sustainable when the lender allegedly forced the company into administration for profit, but the bank can keep its communications about its business recovery unit with PricewaterhouseCoopers under wraps.
A bankrupt Gibraltar-based distressed asset investor seeking £5.6 million ($7.3 million) from a U.K. law firm over an “inflated” land deal has hit back at the law firm's defense, saying it was not relieved of due diligence obligations that would have directly alerted the fund to the dangers of the transaction.
A U.K. High Court judge said Wednesday it is “appalling” that Royal Bank of Scotland PLC shareholders are still waiting for their share of £200 million ($278 million) the bank paid to settle allegations it misled investors over its 2008 rights issue eight months after the deal was struck.
The European Union will offer U.K. banks and insurers only restricted access to the bloc's single market in a Brexit trade deal because Britain will be leaving the EU's regulatory and judicial regimes, draft guidelines circulated on Wednesday reveal.
Locke Lord LLP has continued to expand its London office with the addition of a partner from K&L Gates LLP who brings experience in risk, compliance and regulatory affairs, the firm said.
A convicted fraudster who scammed investment clients out of £5 million ($6.7 million) through ostensible foreign exchange trading admitted perverting the course of justice at a London court on Wednesday, the Financial Conduct Authority said.
The deadline for foreign financial institutions to sign up with the U.S. Internal Revenue Service's Foreign Account Tax Compliance Act registration system came and went last month. While deregulatory and tax reform efforts in Washington could eventually change FATCA enforcement, for the time being, failure to be in compliance can have serious implications, say attorneys with Burr & Forman LLP.
In recent years, initial coin offerings have exploded into the spotlight, but following their recent ban in China and South Korea, and mobilization from a number of top financial regulators in the U.S., U.K. and Australia, it is almost certain that we will see rapid developments in ICO regulation, say Paul Anderson and Harriet Rogers of Squire Patton Boggs LLP.
Recent guidance from key securities regulators on both sides of the Atlantic reflects a coordinated effort to address the incompatibilities between the U.S. regulatory regime and the European Union's new MiFID II rules on research unbundling. However, that the problem arose at all points to a much larger issue, say attorneys with Latham & Watkins LLP.
As Libor’s discontinuation comes closer, lawyers will grapple with interest rate language in current and proposed commercial loan documents. Charles Guerin of Munsch Hardt Kopf & Harr PC offers some suggestions to help meet parties’ expectations, match industry practice and avoid disputes.
Criticized for lacking teeth during the financial crisis, U.K. regulators are now intent on establishing the personal accountability of individuals at all levels, not just in the boardroom, says Francis Kean of Willis Towers Watson.
Nothing has been more instrumental in my role as a legal recruiter than what I learned from a variety of hedge fund managers, venture capitalists and investment bankers — how to analyze a deal and make a decision quickly. It boils down to the traditional SWOT analysis, says Howard Cohl, director in Major Lindsey & Africa’s emerging markets group.
While many aspects of the EU's General Data Protection Regulation may be causing consternation in boardrooms around the world, one particularly innovative provision could benefit individuals and businesses alike by leveling the competitive playing field — the right to data portability, say José Vega and Amy Puckett of Bradley Arant Boult Cummings LLP.
More than 1 trillion euros' worth of nonperforming loans are concentrated in the periphery of the European Union, causing banking regulators and market participants to petition the European Union for help. However, EU laws could complicate a public intervention, say Omar Shah and Leonidas Theodosiou of Morgan Lewis & Bockius LLP.
By "unicorn" I don’t mean the next great tech startup with a valuation of $1 billion. I mean the new breed of lawyers realizing that there are better ways to get their day jobs done, says Lucy Endel Bassli, assistant general counsel leading the legal operations and contracting functions at Microsoft Corp.
To the extent that companies have tolerated predominantly male leadership in the past because it was deemed necessary for growth and prosperity, or viewed diversity and the underrepresentation of women strictly as human resources issues, a growing body of research suggests otherwise, say Andrea Mitchell and Valerie Hletko of Buckley Sandler LLP.