The U.K. needs to speed up Brexit negotiations in order to forge an agreement in time for its March 2019 exit from the European Union, the EU's chief Brexit negotiator said Wednesday after publishing a draft treaty formalizing the bloc's stance on the withdrawal.
Britain's payments regulator confirmed Wednesday that it was working to draft new rules designed to protect victims of so-called push payment scams — including helping victims get their money back.
The European Central Bank will adopt a unified approach to supervising banks in Europe regardless of whether they are under its direct or indirect watch despite suggestions from elsewhere in the European Union that smaller institutions should face a lighter touch, a member of the central bank’s supervisory board said Wednesday.
A New York federal court was asked Tuesday to give initial approval to a $240 million deal Deutsche Bank AG struck to exit litigation by investors alleging it conspired with other financial giants to manipulate the London Interbank Offer Rate, the third major bank to settle.
Barclays defended its ring-fencing plan to keep its employee pension scheme with its investment banking arm after that higher-risk unit gets split from the bank's retail operations, rejecting at a London court hearing Tuesday claims that the move will endanger the fund by placing it into a "casino bank."
A group of U.K. lawmakers on Tuesday called on The Royal Bank of Scotland PLC to halt all legal action it has brought against small businesses that were placed in its controversial restructuring unit, as the ability of those owners to access the full compensation or redress they deserve is being put into jeopardy.
Mayer Brown LLP announced on Tuesday that it has expanded its private equity offering with the hire of a lawyer from Simpson Thacher & Bartlett LLP, who brings with him experience advising a broad range of industries including technology and telecommunications.
The European Council on Tuesday formally approved reforms to the European Union's initiative to cut greenhouse gas emissions by 40 percent by 2030, which it will do by raising the cost of carbon trading for financial services firms and other industries.
The former chief executive of Lloyds Banking Group PLC has asked a London judge to rule that the lender owes him for a bonus payout worth about £1.3 million ($1.8 million) without going to a full trial, arguing at a hearing that wrapped up Tuesday that the bank’s defense has no prospect of success.
A global finance watchdog on Tuesday asked for industry feedback on additional requirements for banks to disclose their capital and risk positions as part of a wider effort to make their capital more robust and improve confidence in the banking system.
British banks must do more to help credit card customers break the cycle of persistent debt, including waiving fees for customers struggling to make repayments, the U.K. financial watchdog said on Tuesday as it prepares to impose new rules.
The Royal Bank of Scotland PLC has paid out less than a third of the £400 million ($557 million) earmarked to compensate clients of its controversial turnaround unit, lawmakers revealed Tuesday amid new worries that the bank's reforms have been "merely a rebranding exercise."
A regulatory framework that would give European Union authorities direct supervisory powers over clearinghouses should be put in place “well in advance” of Brexit to help avoid problems across the bloc's financial systems, the head of the European Central Bank has said.
The credit card unit of Provident Financial PLC has been ordered to return £168.8 million ($235.8 million) to customers after the Financial Conduct Authority found the company had failed to inform customers of the full cost of an add-on repayment product, the regulator announced on Tuesday.
A New York federal judge on Friday backed a magistrate judge’s conclusion that investors in residential mortgage-backed securitization trusts overseen by HSBC Bank USA NA can’t use sampling of loans in those trusts to establish liability and damages in their suits accusing the bank of bungling its duties as trustee.
A consultancy fighting for a slice of £200 million ($279 million) shareholder litigation settlement with The Royal Bank of Scotland PLC has argued that its contract to recruit investors to join the lawsuit is lawful, hitting back at claims that the agreement is invalid.
An insurance brokerage facing legal action over outstanding reinsurance premiums has filed a claim against Barclays Bank PLC in the High Court in London, seeking to get hold of account information connected to the transfer of the missing funds.
With Brexit just over a year away, U.K.-based banks can choose between opening a branch on a budget or a fully operational subsidiary as options for securing continued access to the European market to satisfy strict licensing requirements set out by the European Central Bank. Here are the factors experts say lenders should consider when choosing between the two.
The European Central Bank will float proposals in March for the methodology for a new unsecured overnight interest rate it hopes to launch by 2020 as part of a global effort to replace benchmarks that have been hit by scandal, an executive board member said Monday.
An investment fund has declined to take part in a London trial that began Monday to determine whether Oceanwood Opportunities Master Fund has the right to instruct Citibank as trustee of €290 million ($356 million) of debt securities, leaving neutral party Citibank to argue in its place.
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.
Recent extradition cases have demonstrated that individuals in the United Kingdom facing charges in the United States can either fight extradition proceedings tooth and nail, or voluntarily travel to the U.S. An approach carefully tailored to the facts of each case is required in order to best protect a requested person's interests, says Ben Isaacs of 7 Bedford Row.