A London court has dismissed the first challenge to new "dirty money" powers that allow British authorities to force wealthy people to explain how they obtained their riches if the wealth is suspected to be the proceeds of crime, but lawyers are unsure how effective the new enforcement tool will be.
Britain’s top accountancy body on Monday published a framework for the vetting of bank capital numbers to provide greater certainty over key banking regulatory ratios designed to measure a firm’s financial strength.
Pillsbury Winthrop Shaw Pittman LLP has expanded its U.K. finance practice with the addition of two finance lawyers as partners to its London office, the international law firm said Monday.
A top European Central Bank official warned on Monday that it will be forced to rewrite equivalence rules to stop financial services firms from exploiting the fallout over Brexit to secure looser regulatory obligations from countries eager to accommodate them.
U.S. bank JPMorgan Chase & Co. agreed on Monday to buy an office building in Dublin big enough to accommodate 1,000 staff — the first sign of a major firm expanding in Ireland to allow it to remain within the European Union's regulatory framework after Brexit.
The European Central Bank said on Monday it will consider actions taken by banks to mitigate potential conflicts of interest when deciding whether new board members are “fit and proper” to hold their positions at Europe’s biggest lenders.
Britain’s financial regulator urged firms on Monday to brace for a second wave of the ransomware cyberattack that has hit 150 countries around the globe.
The Group of Seven leading industrial nations with democratric governments have pledged to strengthen their fight against cybercrime and redouble efforts to stamp out money-laundering, according to a post-meeting communique issued Saturday.
The Gibraltar Financial Services Commission said Friday it reached an agreement with two directors of a company that was providing professional trustee services to pension insurance schemes without regulatory approval, with the executives agreeing to step down from their roles and not reapply for regulatory authorization for two years, following an investigation of the pair's "fitness and proprietary."
Europe’s banking watchdog published final guidelines on sound credit risk practices and accounting for expected losses at banks on Friday, as the industry braces itself for onerous new accounting measures.
The business models of the U.K.’s biggest retail banks will come under heightened scrutiny in the coming months after the Financial Conduct Authority announced a review of how the sector is adapting to regulatory and technological changes.
The British government is poised to introduce legislation that will make wide-ranging changes to the U.K.'s corporate, tax and regulatory regimes to encourage more insurers to set up special purpose vehicles to cover catastrophe risks onshore — and experts say the plan to win business back from Bermuda and Guernsey just might work.
A top British regulator signed an agreement on Friday with Hong Kong’s securities watchdog to bolster financial technology ties between the two jurisdictions.
After a New York court tossed a private equity firm's $650 million (£505.3 million) bribery suit against Bernie Ecclestone, the U.S. firm has filed a new claim against the former motor racing supremo in England, according to the High Court register.
The U.K.’s Prudential Regulation Authority released detailed policy on Friday outlining how banks and insurers must hold top executives personally accountable for misconduct under their watch.
Britain’s oldest peer-to-peer lender became the first major company of its kind to be granted authorization to launch an individual savings account by the U.K.’s banking watchdog on Thursday after more than a year of delays.
The U.K.’s top corporate governance watchdog is asking for industry opinion on its enforcement procedures, which will be fed into an independent review of whether its penalties effectively deter wrongdoing.
A new era of aggressive regulatory and criminal prosecution of financial crime has led to a mass cull of correspondent banking relationships since the financial crisis, and lawyers say there is little sign of the pendulum swinging back any time soon.
The European Council gave final approval Thursday to a €6 million ($6.52 million) program that will fund two Brussels-based lobby groups to enhance consumer involvement in EU financial services policymaking.
The Royal Bank of Scotland on Thursday again defended the high costs it is spending to fight a class action brought over the bank’s fundraising before its taxpayer bailout, estimated to finish at £125 million ($161 million) in legal fees, calling the case “extraordinary.”
A top U.S. securities regulator warned Europe late Wednesday that it should think carefully before attempting to move the lucrative euro-clearing industry away from London post-Brexit.
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.