Financial Services UK

  • January 23, 2017

    Hogan Lovells Nabs FCA's Chief Criminal Lawyer

    Hogan Lovells announced Monday that it has hired the Financial Conduct Authority’s chief criminal counsel and “leading name” as partner at its London financial services litigation practice.

  • January 23, 2017

    FCA Seeks To Speed Up Assets Salvage From Failed Funds

    The U.K.'s Financial Conduct Authority announced plans on Monday to improve the distribution of client assets when an investment firm fails and to help soften the impact of its collapse.

  • January 20, 2017

    UK Urged To Seek 'Ambitious' Bespoke Brexit Deal

    Britain should push for an "ambitious" custom deal with the European Union as it negotiates to leave the bloc, rather than adapting existing regulatory frameworks for third countries, to ensure continued access to critical financial markets, according to a report released Monday.

  • January 20, 2017

    Road Narrows For Appeal In Landmark RBS Libor Swaps Case

    A property company trying to overturn its loss to Royal Bank of Scotland PLC in a landmark swaps misselling claim will have to go directly to London's Court of Appeal after the trial court Friday refused leave to challenge the earlier ruling.

  • January 20, 2017

    Top UK Cybersecurity Agency Takes Big Step For Blockchain

    As financial firms continue to explore how blockchain technology will transform or even threaten their businesses, Europe’s top information security agency on Wednesday took its first plunge into addressing the potential impact of the technology — a significant milestone, lawyers say, in the journey toward industry and regulatory acceptance.

  • January 20, 2017

    EU Wants To Hit The Gas On Capital Markets Union

    Europe’s executive arm launched a new initiative Friday to accelerate and broaden ambitious plans for a Capital Markets Union that would increase access to financing for companies in the European Union.

  • January 20, 2017

    UK Banks Unfazed By Pending Supreme Court Brexit Decision

    Britain's banking and legal communities are already looking beyond the U.K.'s Supreme Court decision, due Tuesday, on whether the government can bypass Parliament when triggering the formal process for leaving the European Union, a move that would throw four decades of shared laws and regulation into doubt.

  • January 20, 2017

    UK Markets Watchdog Clarifies Confidentiality Rules

    The U.K.’s Competition and Markets Authority announced Friday it has developed new templates and clarified rules aimed at helping banks and businesses understand how its confidentiality and disclosure processes work.

  • January 20, 2017

    SFO Defends Record On Fraud Conviction Totals

    A senior official from the U.K.’s Serious Fraud Office has defended the agency’s recent run of low conviction totals, saying that statistics should be considered alongside its "serious and complex" work.

  • January 20, 2017

    UK Bank Watchdog Braces For Spike In Legal Battles

    Britain’s financial services watchdog said Thursday it expects it to become harder to levy large fines against financial institutions following the introduction of tough rules that hold senior bank executives accountable for misconduct.

  • January 20, 2017

    HSBC To Repay Consumers £4M For Debt Collection Charges

    HSBC has agreed to pay £4 million ($4.9 million) in redress to customers who had “unreasonable” debt collection charges imposed on them by its subsidiaries, the U.K.’s Financial Conduct Authority announced Friday.

  • January 19, 2017

    UK Will Remain EU’s Business Litigation Center, Official Says

    The U.K. government’s justice secretary sought to reassure the country’s legal industry Thursday that Britain should retain its status as Europe’s legal powerhouse, as well as its biggest financial center, after the U.K. leaves the European Union.

  • January 19, 2017

    EU Lawmakers Reject Money Laundering List As Inadequate

    European Union lawmakers on Thursday rejected the European Commission’s proposed blacklist of 11 countries seen at risk of facilitating money laundering or terrorist financing as being too narrow in scope and demanded the inclusion of tax havens on the list.

  • January 19, 2017

    Transitional Deal Won’t Reassure London Banks

    The U.K. government’s hint at a transitional agreement to ease Britain out of the European Union is unlikely to deter financial services firms from shifting at least some operations out of London, legal advisers say, adding that banks cannot wait years for more detail about a final deal with the EU on market access.

  • January 19, 2017

    Orrick Bolsters Euro Corporate Team With KWM, Olswang Hires

    Orrick Herrington & Sutcliffe has added three new M&A and private equity partners in London, Paris and Munich this month, the firm confirmed Thursday, two of whom come from troubled King & Wood Mallesons LLP, which has seen a number of departures in recent months.

  • January 19, 2017

    British Bank Lobby Urges More Harmony In Cyber Risk Rules

    Britain’s bank lobby warned Thursday that overlapping and inconsistent approaches to information technology risk among regulators could undermine the ability of firms to tackle the growing number of cyber threats and hacking risks they face.

  • January 19, 2017

    MasterCard Says Variety Kills Class Action Aims For £14B Suit

    A £14 billion ($17.2 billion) consumer antitrust suit against MasterCard over swipe fees shouldn't proceed as a class action because the estimated 46 million claims don't have enough in common, lawyers for the credit card company told a London tribunal Thursday.

  • January 19, 2017

    UK Financial Crime Crackdown Hints At US-Style Prosecution

    As the U.K. looks to toughen up on corporate economic crime, lawyers say enforcers are building on similar efforts to tackle bribery and tax evasion with an eye toward U.S.-style prosecutions.

  • January 19, 2017

    UK Bank Compliance Laws Need Overhaul, Think Tank Warns

    Confusion over the objective of U.K. anti-money laundering laws is damaging compliance among financial institutions, leaving the country’s regime in need of an overhaul, according to research published by a defense and security think tank on Thursday.

  • January 19, 2017

    EU Banking Watchdog Updates Digital Reporting Standard

    Europe’s banking watchdog published an update on Thursday to the digital filing standard national regulators should use for the transfer of information under its rules on supervisory reporting to include changes to data validation rules.