Norton Rose Fulbright said Monday it has expanded its corporate and white collar crime team with the hiring of a former partner from Simons Muirhead & Burton LLP who specializes in complex fraud, corruption and money laundering investigations.
The U.K.'s finance watchdog plans to focus on substandard financial advice and encourage advisers and investment managers to report suspicious activity to the regulator, a director at the Financial Conduct Authority said on Monday.
A major package of reforms designed to reduce risk in the European banking sector, which finance ministers are due to discuss this week, could unbalance the bloc’s capital markets if they are waved through without change, industry experts warned on Monday.
The European Union’s resolution authority said Monday that it will step up its scrutiny of banks’ resolution plans over the next year, as it continues to push for better crisis management and the completion of an EU-wide fund for bank failures.
The governing body of London's "Square Mile" of financial services and insurance firms signed a four-year standard-setting agreement with Tokyo on Monday as it seeks greater regulatory cohesion with other major financial centers after Brexit.
The last week has seen more than a dozen Indian banks sue the co-owner of the Force India Formula 1 team as he faces possible extradition from the U.K., the Nigerian government takes on JPMorgan, and Ace lodges a dispute against Aviva Life.
A U.K. High Court judge said Friday that a group of insurers led by Aspen Underwriting Ltd. can bring a damages claim for alleged misrepresentation against the banker of a Turkey-based shipping company in the United Kingdom because it falls under tort law.
EU lawmakers said Friday that the “perception of impunity” in Malta cannot be allowed to continue as they issued a sharp reprimand to the member state over its exercise of law and reluctance to implement European anti-money laundering legislation.
The European Commission said Friday it will carry out a “fitness check” on the reporting requirements for banks and other financial firms in the EU as it tackles complaints from the industry that the rules are too complex and that their compliance costs are rising.
The Financial Conduct Authority urged savers in the U.K. to beware of free pensions advice on Friday and warned them against transferring funds into investments such as biofuel, forestry and care homes.
The Financial Conduct Authority said Friday that two individuals have been found guilty by a U.K. jury for their role in the misselling of company shares in a scheme in which investors lost more than £1.4 million ($1.9 million).
Multiemployer pension schemes will need to meet new tests of their capital adequacy and governance — and companies that offer them will have to pay up to £67,000 ($90,400) to continue operating in the U.K. — under regulations that take force next year.
The Organization for Economic Cooperation and Development on Thursday released its latest round of guidance for multinational companies that are required to file financial and tax information for each country they operate in, this time focusing on specific accounting-related issues and definitions.
The Financial Stability Board launched two separate consultations on Thursday setting out proposed guidance on improving the resolution regimes for the biggest banks across the globe, as part of efforts to end the “too big to fail” problem.
A convicted fraudster who scammed investment clients out of £5 million ($6.7 million) through ostensible forex trading has been charged by the U.K. Financial Conduct Authority with perverting the course of justice.
A High Court judge in London handed a win to Visa Inc. on Thursday, ruling in a long-running case brought by Sainsbury’s Supermarkets Ltd. that the credit card company did not set its interchange fees at an unlawful level that restricted competition.
Britain’s accounting watchdog admitted on Thursday that it should have moved faster to investigate KPMG LLP's decision to approve the accounts of HBOS months before the doomed bank had to be rescued.
British banks said on Thursday that they want the U.K. government and the EU to act swiftly to prepare a mutual agreement to allow continued protection for cross-border exchange of personal data between the two regions between customers, businesses and organizations after Brexit.
New European Union rules governing the ranking of debt instruments after a bank enters insolvency passed the final legislative hurdle on Thursday as members of the European Parliament voted in favor of the proposed text.
Barclays PLC announced appointments to the board of its new ring-fenced bank on Thursday, as it gears up to comply with legislation that forces banks to separate their retail operations from riskier investment business by the beginning of 2019.
It’s safe to say that while demand ebbs and flows for legal services, there will never be a shortage of opinions about lateral partner hiring, which is positive for the industry, as anything with such vital importance to careers should attract significant attention. However, there is a unique mythology that travels with the discussions, says Dan Hatch of Major Lindsey & Africa.
With more than a third of lawyers showing signs of problem drinking, and untold others abusing prescription drugs and other substances, it is time for law firms to be more proactive in addressing this issue, says Link Christin, executive director of the Legal Professionals Program at Caron Treatment Centers.
The current trend of rolling back privilege in an investigatory context is a troublesome development for companies, and may lead to a reduction in self-reporting and investigation. Even more concerning are the implications on litigation privilege, meaning that defendants will need to incriminate themselves in order to satisfy the evidential test as to when a prosecution was reasonably anticipated, says Georgina Jones of Taylor Wessing LLP.
David Coale, leader of the appellate practice at Lynn Pinker Cox & Hurst LLP, shares his insights into what works — and what does not — when setting up and maintaining a legal blog.
Given the overwhelming complexity of today’s data environments, investigators must take advantage of a variety of technology tools to apply both tried-and-true and new analytical techniques to internal investigations. Investigators must also develop the mindset of a relentless and detailed forensic detective, says Caroline Sweeney of Dorsey & Whitney LLP.
As business litigation becomes more international in scope, the ability to enforce a judgment across national boundaries is increasingly a key consideration in any litigation strategy. In the U.S., however, the multiple judicial systems among the states and federal system of courts add complexity to issues of enforcement for non-U.S. judgment creditors, say Rodney Page and Joseph Smallhoover of Bryan Cave LLP.
For outside counsel, oftentimes efficiency and responsiveness collide with security measures as clients are increasingly requiring their law firms to comply with third-party risk management programs. To meet these challenges, law firms are focusing more on the roles of chief privacy officer and chief information security officer, says Phyllis Sumner, chief privacy officer for King & Spalding LLP.
The United Kingdom's Policing and Crime Act 2017 significantly increases the Office of Financial Sanctions Implementation's powers to enforce U.K. sanctions. Some are skeptical that the OFSI will use its new powers aggressively, but companies who may have breached the sanctions regime should prepare for the worst, say Christopher David and David Horn of WilmerHale.
New mobile computing tools — both hardware and applications — are changing the technology paradigm for legal practitioners. In particular, the combination of the 12.9-inch iPad Pro, the Apple Pencil and the LiquidText annotation app can revolutionize both trial preparation and courtroom litigating, says attorney Paul Kiesel, in his latest review of tech trends.
Legal incubators serve as an important bridge to practice and a crucial step toward aligning the incentives of new lawyers with the needs of their clients. They may even pose a threat to the traditional law school model itself, and that's not necessarily a bad thing, says Martin Pritikin, dean of Concord Law School at Kaplan University.