A U.K. appeals court's recent broad take on the protections legal privilege offers companies against demands from government prosecutors in a dispute over a Serious Fraud Office probe re-enshrines the confidentiality at the heart of the attorney-client relationship and offers comfort to multinationals facing cross-border investigations.
Investors who reached $340 million in settlements earlier this year with Deutsche Bank and HSBC in multidistrict litigation over alleged manipulation of the London Interbank Offered Rate have asked a New York federal judge to award nearly $63.4 million in fees and expenses for their counsel, Susman Godfrey LLP and Hausfeld LLP.
The European Union should link future trade deals to compliance with international tax practices, a paper from a prominent Brussels think tank said Tuesday.
DLA Piper announced on Tuesday that it has hired a former head of the Serious Fraud Office’s bribery and corruption team, who most recently spent five years at Steptoe & Johnson LLP, to join its London office.
Bayerische Landesbank has hit back in a London court at allegations by a hotel chain that the German lender overcharged it on an interest rate swap in 2007 and inflated the costs of breaking the contract, calling the claims stale, time-barred and misconceived.
Businesses applying for licenses to use innovative financial technology in Switzerland will be able to enjoy relaxed anti-money laundering rules from 2019, which will exempt them from the requirement to set up an independent oversight unit, the Swiss financial regulator revealed on Tuesday.
In a rare move, the Second Circuit has limited the application of the Foreign Corrupt Practices Act to exclude certain foreign entities without sufficient connection to the U.S., a decision that may cause prosecutors to rethink how they charge some foreign bribery cases.
The last week has seen the pension trust for infrastructure group Balfour Beatty lodge a claim against HMRC, an Italian insurer sue shipping giant CSAV and London private club 5 Hertford Street lodge a Part 8 filing against Lloyds Bank.
A group of former shareholders in Banco Popular Español SA initiated arbitration against Spain, alleging the government caused the bank's liquidity crisis in 2017 and then failed to take action to prevent its demise, resulting in the loss of their more than €470 million ($546.3 million) investment.
An arbitral award, in which an international tribunal reconsidered an initial decision sparing Tanzania Electric Supply Co. Ltd. from having to pay the Hong Kong arm of Standard Chartered Bank and instead ordered the power company to pay the bank $148.4 million owed under a power purchase agreement, has survived an annulment bid.
The Second Circuit on Friday ruled that the Foreign Corrupt Practices Act doesn’t apply to foreign nationals without ties to U.S. entities for bribery crimes that take place outside of the U.S., rejecting the government’s bid for a broad interpretation of the anti-bribery law in a case against a former Alstom SA executive.
The U.K. government’s dire warnings of severe disruption to financial services in the case of a no-deal Brexit have sparked new calls from the financial and legal sectors for the government to redouble efforts to negotiate an agreement to leave the European Union that includes a transition period.
The High Court of Ireland has ruled an Irish lender that securitized a homeowner’s €350,000 ($407,000) loan with another firm was not required to join that firm to legal proceedings seeking to enforce repayment of the debt.
Fraudsters are using details of authorized firms as part of their tactics to scam consumers in the U.K., the Financial Conduct Authority said on Friday as it issued a fresh warning against a cryptocurrency firm claiming to be part of the BlackRock group.
A company director accused by the Serious Fraud Office of fraud in connection with a property investment scheme in the Caribbean has won a legal challenge against the way a U.K. agency calculated his legal aid.
Financial giant Goldman Sachs has entered the European online retail banking market with the launch of its consumer bank in the U.K.
Short-term lender Century Capital Partners has asked the High Court in London to award it a default judgment worth approximately £967,000 ($1.2 million) against two individuals over an allegedly unpaid loan.
The Financial Conduct Authority has issued a final notice confirming that a former UBS AG trader has been banned for life from holding any role in the financial services industry for his alleged role in rigging the London Interbank Offered Rate.
A ban on the sale of binary options to retail customers across the European Union will be extended for three months in a move to protect investors, the bloc’s securities regulator announced Friday, adding that some products will be excluded from the measure.
A judge in England said Wednesday that plaintiffs in U.S. litigation over alleged manipulation of the foreign exchange market can get oral testimony from a former Goldman Sachs senior foreign exchange trader as they press ahead with claims against the remaining bank in the case, Credit Suisse.
The U.K.'s Office of the Complaints Commissioner has said it will not reopen a decade-old dispute between a financial adviser and the Financial Conduct Authority that centered around a series of complaints over the accuracy of data entries held in the regulator’s register.
Law360 speaks to Jeffrey Golden, joint-head of 3 Hare Court Chambers, and ex-Delaware Supreme Court justice Randy Holland about the importance of building contacts in different jurisdictions, how 3 Hare Court has been breaking new ground and building up a strong global practice, and which key trends they’re keeping an eye on within the legal industry.
The Serious Fraud Office has landed another mixed result in its prosecution of several former Barclays and Deutsche Bank traders for manipulating Euribor, the latest in the white collar specialist's latest effort to hold individuals accountable for rigging key benchmark interest rates. Here, Law360 looks at the highlights of the SFO's long-running campaign.
With Britain less than a year from exiting the European Union, firms on Law360’s Global 20 have begun pushing deeper into the countries remaining in the bloc, adding offices and industry specialists in a shift that could rebalance how BigLaw works in the region.
Legal leaders who want to meet their clients' expanding expectations should start moving their documents to future-ready document management solutions now if they want to stay competitive in the next few years, says Dan Puterbaugh of Adobe Systems Inc.
The sheer scale and global nature of the Volkswagen diesel emissions scandal has led to discussions about how such high-volume consumer cases are handled, with some commentators suggesting that the case represents a turning point in how class action litigation is viewed and handled, particularly in Europe, say Noah Wortman, global head of class action services at Goal Group, and attorneys with Hausfeld LLP.
Global authorities are taking an increasingly coordinated approach toward the investigation and prosecution of economic misconduct. Further significant developments in 2018 will likely refine the manner in which such investigations are approached, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.
A number of significant corporate resolutions were reached in 2017, which have provided guidance on the level of cooperation expected by criminal and civil authorities, primarily in Europe. Meanwhile, the divergent approaches to legal privilege taken by courts in different jurisdictions provide significant challenges to those conducting cross-border internal investigations, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.
In the litigation funding world, portfolio financing offers many potential advantages, but few who talk about it truly understand the mechanisms or reasoning behind portfolio arrangements, says Matthew Denney of Chancery Capital.
The regulatory fragmentation on the federal level, and at the U.S. state and EU member state levels, presents challenges and uncertainty for many fintech companies. The resolution of these uncertainties will directly impact the evolution of this sector, say attorneys with Skadden Arps Slate Meagher & Flom LLP.
Late last year, the Sedona Conference released the third edition of its principles addressing electronic document production, updated to account for innovations like Snapchat and Twitter. It may be necessary for these principles to be updated more often in order to keep pace with technology, says Charles McGee III of Murphy & McGonigle PC.
The notice the European Commission released last November is factually accurate, but casts doubt on the continued efficacy of English courts without giving stakeholders the full story. The timing of its release was potentially by political reasons, says Louise Freeman of Covington & Burling LLP.
In "Justice and Empathy: Toward a Constitutional Ideal," the late Yale Law School professor Robert Burt makes a compelling case for the undeniable role of the courts in protecting the vulnerable and oppressed. But the question of how the judiciary might conform to Burt’s expectations raises practical problems, says U.S. Circuit Judge Allyson Duncan of the Fourth Circuit.
As litigation funding becomes more widespread, greater complexity and variability in funding deals are to be expected. All claimants should consider certain key questions on the economics of single-case funding when considering or comparing funding terms, says Julia Gewolb of Bentham IMF.