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.
The European Banking Authority issued final guidelines on Thursday for national regulators to aid them in assessing and containing risks to the financial system from the rapid growth of information technology within the financial services industry.
A top European central banker said on Thursday that more regulatory work needs to be done to make the derivative markets secure, amid rising risks related to the way banks and brokers use clients’ assets for their own purposes.
Britain’s top financial technology lobby group on Thursday urged every U.K. political party to put pledges in their election manifestos to protect the sector, amid fears that a "hard Brexit" will damage the industry’s access to talent and funding.
Britain and the European Union should use international arbitration to settle their dispute over the size of the U.K.’s European divorce settlement to help avoid a looming clash that risks derailing Brexit talks, an economic think tank based in Brussels said on Thursday.
PricewaterhouseCoopers LLP was hit with a £5 million ($6.46 million) fine by the U.K.’s accounting watchdog on Thursday for misconduct over its 2009 audit of social housing group Connaught PLC, which has since collapsed.
The U.S. Securities and Exchange Commission stepped up the pace of its pursuit of programs charging a supposedly all-inclusive wrap fee on Wednesday, fining Barclays Capital Inc. $97 million over charging fees for services that weren't delivered, but experts said it's too early to tell if the agency will keep up the hunt under new SEC Chairman Jay Clayton.
A unit of Barclays PLC will pay $97 million to settle claims by the U.S. Securities and Exchange Commission that it overcharged thousands of investors over a six-year period for services it never actually provided, the regulator announced Wednesday.
New capital requirements for banks threaten to push past an "inflection point' forcing banks to retrench from lending operations to remain compliant, a step that could drag on economic growth, the head of the global standard-setting body for the derivatives market said Wednesday.
The global shadow banking market has grown by trillions of dollars, according to a Financial Stability Board report published on Wednesday analyzing the sector that regulators continue to warn needs greater scrutiny and supervision.
British banks seeking to move their operations to Ireland will be allowed to temporarily use their existing internal risk models without undergoing a full-blown approval process, a top Central Bank of Ireland official said on Wednesday, as the country steps up efforts to attract business from London after Brexit.
The Serious Fraud Office can force an international mining firm under criminal investigation for corruption and bribery to hand over documents including forensic accounting data produced during an internal investigation, London’s High Court ruled in a landmark decision on legal privilege.
Barclays PLC chief executive Jes Staley apologized to shareholders on Wednesday and admitted he “made an error” in attempting to uncover a whistleblower inside the firm, a move that is being investigated by British regulators.
An onslaught of U.S. law firms into London over the past decade, driven largely by private equity and financial industry work, has created increased competition for talent in the city’s legal market and pushed U.K.-based law firms to rethink their strategies surrounding compensation.
British overseas territory Gibraltar is consulting on a regulatory framework for blockchain, the territory’s government announced late Tuesday, making it the first jurisdiction to shape laws around the transformative technology.
A tide of incoming financial regulation has prompted KPMG International to position itself as a middleman between banks, insurance firms and new financial technology companies, the firm said Wednesday, as the industry braces for landmark changes.
Kirkland & Ellis International LLP has hired a Freshfields Bruckhaus Deringer LLP partner who advises financial firms on restructurings and specialized lending transactions, Kirkland announced Wednesday.
A distressed-asset manager attempting to reverse its purchase of $10 million in debt owed by a Ukrainian steel manufacturer told London’s High Court on Tuesday that the firm had done all it could to meet its obligations under the sale agreement.
Of the flurry of legislation swamping Europe’s financial services sector in January, lawyers say one of the broadest and most problematic stems from attempts to stop manipulation of the benchmarks in financial instruments, a complex and demanding raft of changes that have flown under the radar as banks juggle with competing demands.
There are early signs that cooperation among regulators is slipping, which is threatening to fragment liquidity in global financial markets, the head of the international derivatives standard setting body said Tuesday.
The Financial Conduct Authority updated on Tuesday the standards retail bankers need to meet to qualify under its training and competence regime, in the latest move from the regulator aimed at improving the financial advice industry in the U.K.
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.