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.
The Serious Fraud Office's former director will join Slaughter and May as a senior consultant in October to counsel clients on regulatory investigations, the firm announced Tuesday.
European regulators must gear up to prevent financial woes spreading between troubled securities, banking and insurance companies amid heightened risk from Brexit, three major financial watchdogs said Tuesday.
The banking industry needs more guarantees from government on the continuity of financial contracts after Brexit, as well as greater reciprocity from European Union regulators on cross-border treatment, senior banking executives told a U.K. parliamentary committee Tuesday.
ING Group's chief financial officer will resign, the bank announced Tuesday as it revealed that he was responsible for the Dutch unit during the period that compliance failings led to money laundering and other financial crimes at the branch.
A troubled investment adviser and wealth manager already barred by regulators from accepting new client money is being sued in London's High Court for allegedly advising a pensioner to put his savings into a series of high-risk investments that went sour.
A leading foreign currency exchange trade group has come out in support of former HSBC executive Mark Johnson's bid to overturn his conviction for defrauding Cairn Energy PLC in a $3.5 billion transaction, calling it an industry-standard deal that the banker had no reason to believe was illicit.
Litigation funder Vannin Capital on Monday unveiled plans to float on the London Stock Exchange in a £70 million ($91.2 million) initial public offering, the same day it announced that a former Allen & Overy LLP senior partner has joined the firm as its newest chairman.
The International Swaps and Derivatives Association urged global regulators on Monday to introduce more flexibility to clearing rules and improve the capacity of the market as part of their efforts to incentivize the central clearing of over-the-counter derivatives.
Brown Rudnick LLP has strengthened its mergers and acquisitions team with the hire of a private equity partner in its London office, the firm has said.
The director of a fake binary options company that defrauded 42 victims out of a combined £475,000 ($618,900) has been sentenced to four and a half years at a London crown court, the City of London Police revealed Monday.
The European Systemic Risk Board urged supervisors on Monday to monitor the €42.3 trillion ($54.7 trillion) European Union shadow banking system, as the watchdog warned of liquidity and leverage risks as well as vulnerabilities caused by how interconnected banks and non-bank entities are.
The last week has seen a software developer sue Citibank for breach of contract, a new filing between British Airways and its pension trustees, and a claim brought by African food distributors and major insurers Axa, Allianz Generali and Swiss Re against container shipping giant MSC. Here, Law360 looks at those and other new claims in the U.K.
Cryptocurrency assets should be regulated in the European Union and financial institutions should limit their exposure given their high levels of price volatility, a think tank has urged in a new study.
Litigation funder Augusta Ventures has boosted its London team with a string of high-profile hires from firms like Hogan Lovells, Eversheds Sutherland and Hausfeld LLP as it signaled plans to pursue larger-scale cases.
The chairman of the U.K.’s Financial Conduct Authority has piled pressure on major accounting firms over the quality of their bank audits and urged the profession to act fast to address the problem, as the biggest accounting firms continue to face calls for more competition and oversight amid a series of scandals.
Two debt management directors have been disqualified from running companies for a combined 15 years after a court heard that they used client money to pay their salaries and running costs while owing client creditors nearly £580,000 ($753,000), the government said Friday.
The European Union’s chief Brexit negotiator has indicated that Britain could be granted a regulatory equivalence deal on financial services similar to arrangements already enjoyed by the U.S., according to minutes of a meeting released on Friday.
Deutsche Bank AG can serve an order on Monaco-based billionaire Alexander Vik compelling him to return to the U.K. for questioning over his assets or face prison as the bank continues its hunt for $300 million owed by the entrepreneur, a London appeals court ruled Thursday.
The European Union’s banking watchdog has told banks to hand over information about their financial stability, including details of how much capital they hold and their risk-weighted assets, which the authority said it will use to prepare rules for how firms will implement Basel III revisions across the bloc in 2019.
Britain’s antitrust watchdog has revealed that it will review U.K. rules requiring lenders to disclose to their customers the payment protection insurance premiums they have paid as a new European Union directive will place a similar burden on banks.
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.
Security features unique to cryptocurrency put investors at risk of losing such assets upon incapacity or death. Understanding these features and crafting a plan that addresses certain important factors will help assure digital assets are effectively passed on to heirs and beneficiaries, say Michael Kearney and Joseph Doll at Cole Schotz PC.
The U.K. Court of Appeal recently ruled on the meaning of the words "fair market value" in the default valuation provisions in the Global Master Repurchase Agreement 2000 edition. The decision demonstrates the difficulty of challenging a nondefaulting party's valuation, provided that its process is reasonable, say attorneys at Signature Litigation LLP.
Connecting with potential prospects is now more challenging due to the EU General Data Protection Regulation, meaning that law firm microsites, blogs and social media will become more valuable than ever. The firms that deploy them strategically will increase their relative visibility and accelerate the rebuilding of their opt-in distribution lists, says Stephan Roussan of ICVM Group.
The U.K. Financial Conduct Authority's recently published annual business plan and mission statement indicate an uptick in enforcement activity. Alongside this, the past year has seen a number of interesting court decisions dealing with claims for litigation privilege, say Abdulali Jiwaji and Elliott Fellowes of Signature Litigation LLP.
Businesses that are only now waking up to the reality of the EU General Data Protection Regulation, which took effect on Friday, must prioritize their compliance efforts to mitigate potential regulatory risks as they work quickly to achieve full compliance, say Joseph Facciponti and Katherine McGrail of Murphy & McGonigle PC.
The U.S. Department of the Treasury's Office of Foreign Assets Control's plan to add digital currency addresses to the specially designated nationals list will do little to advance OFAC's goals. However, it will impose additional and pointless screening duties on digital currency transactions for both U.S. and non-U.S. companies and financial institutions, says Clif Burns of Bryan Cave Leighton Paisner LLP.
Beginning May 25, European regulators will be able to enforce the EU General Data Protection Regulation. The possibility of enforcement means the GDPR will now have greater bearing on M&A activity in the U.S. and elsewhere, say Emma Flett and David Higgins of Kirkland & Ellis International LLP.
While the broad theoretical considerations that are relevant to an economic assessment of whether a merger is likely to reduce innovation are undisputed, the European Commission's interpretation of the relevant economic literature in recent mergers is contentious, say economists at Cornerstone Research.
Earlier this year, U.K. Business Secretary Greg Clark announced that a public register containing details about owners of overseas companies that buy or own property in the U.K. will be made available by early 2021. While the true impact of the new register is difficult to predict, it is clear that the days of anonymous property ownership are over, say Simon Airey and Joshua Domb of Paul Hastings LLP.
U.K. financial regulators recently decided the first test case under the country’s whistleblower protection provisions in a matter involving Barclays CEO Jes Staley. The decision not to take action against Barclays calls into question the extent to which regulators will give teeth to the protections, say Lynne Bernabei and Kristen Sinisi of Bernabei & Kabat PLLC.