The last week has seen a consulting firm sue the shareholder rights group that challenged the Royal Bank of Scotland, Lehman Brothers' bankrupt European unit take on HMRC and three reinsurers lodge a claim against Petroleos de Venezuela's captive insurer. Here, Law360 looks at those and other new claims in the U.K.
The Financial Conduct Authority warned banks and insurance firms on Friday that they will still face regulatory punishment for cybersecurity failures in their supply chain and that outsourcing compliance is not a credible defense.
The European Banking Authority announced Friday it has finalized the stress scenarios it will use to put banks to the test in 2018 in an EU-wide program to gauge the ability of institutions to meet requirements for their capital holdings during a crisis.
Credit rating agencies based in the European Union starting in 2019 will have to explain to regulators why they are endorsing a rating by an agency based outside the EU, as Europe’s top securities regulator set out new requirements on Friday.
The U.K. Financial Reporting Council announced on Friday that it will review the corporate reporting of financial firms over the next two years, focusing on the effects of Brexit and new standards that come into force in the new year.
Europe’s securities watchdog published its final report on new regulations for the €1 trillion ($1.2 trillion) money market funds sector on Friday, which will introduce stress-testing of liquidity and credit quality.
A High Court judge ruled in favor of Dana Gas bondholders in a high-profile legal judgment on Friday over the validity of $700 million of Islamic bonds issued by the United Arab Emirates energy company.
Television celebrity Noel Edmonds is planning to take legal action against Lloyds Banking Group PLC in a bid to claim as much as £300 million ($396 million) for losses he claims he suffered in a fraud scam carried out by former employees at the bank's HBOS unit.
U.K. Brexit negotiator David Davis denied on Friday that Britain is being inflexible in talks, blaming Germany and France for blocking progress in efforts to seal a future free-trade agreement between it and the European Union.
The European Securities and Markets Authority revealed proposals on Friday for how commercial firms should calculate future derivative positions under incoming EU trading laws as it attempts to shore up stability in trading.
Deutsche Bank extended its hunt to recover roughly $300 million owed from a judgment against Norwegian investor Alexander Vik to Delaware on Thursday, launching a Chancery Court lawsuit alleging that his offshore private equity firm used First State-organized companies to transfer funds beyond the bank’s reach.
Lawyers who sought 30 percent of a $120 million settlement they struck with Barclays PLC for investors who accused the bank of manipulating the London Interbank Offered Rate told a New York federal judge on Wednesday that they’d accept just 20 percent of the settlement pot for now after she raised questions about the payout.
Europe’s securities regulator made a series of technical clarifications to its guidance for financial firms preparing for wide-ranging EU market reforms on Wednesday, marking the fifth time it has done so in one week.
Regulators must ensure the financial services industry is fully committed to change when a raft of technology-driven reforms starts to transform Britain’s banking and payments sector in January, a lobby group said on Thursday.
One of Britain’s largest financial trade bodies made the case on Thursday for an "ambitious and credible" free trade agreement between the U.K. and the EU that would allow reciprocal cross-border market access for financial services after Brexit.
Europe’s securities watchdog said Thursday it will probe the performance fees charged by asset managers amid growing concerns that some practices are too secretive, leading to excessively high costs for investors.
Legal barriers stand in the way of a revival of Europe's "anemic" securitization market, including conflicting rules that make it difficult for insurers to play their part, a senior European Central Bank official said Thursday.
HSBC Bank USA NA on Wednesday scored quick wins in California federal court on all claims in a proposed class action accusing the bank of aiding and abetting a Ponzi scheme by serving as an intermediary bank for wire transfers from the scheme’s victims to bank accounts in Hong Kong.
A Financial Conduct Authority official vowed Tuesday not to back away from vital "but inevitably complex" cases of market abuse as it steps up its technological systems to enforce new European rules taking a tougher approach to misconduct in the industry.
U.K. and U.S. trade officials said Wednesday that they’ve completed their second round of talks to further deepen trade ties between the two nations, with U.K. Secretary of State for International Trade Liam Fox saying they’re “laying the groundwork for a potential future free trade agreement.”
Recent guidance from key securities regulators on both sides of the Atlantic reflects a coordinated effort to address the incompatibilities between the U.S. regulatory regime and the European Union's new MiFID II rules on research unbundling. However, that the problem arose at all points to a much larger issue, say attorneys with Latham & Watkins LLP.
As Libor’s discontinuation comes closer, lawyers will grapple with interest rate language in current and proposed commercial loan documents. Charles Guerin of Munsch Hardt Kopf & Harr PC offers some suggestions to help meet parties’ expectations, match industry practice and avoid disputes.
Criticized for lacking teeth during the financial crisis, U.K. regulators are now intent on establishing the personal accountability of individuals at all levels, not just in the boardroom, says Francis Kean of Willis Towers Watson.
Nothing has been more instrumental in my role as a legal recruiter than what I learned from a variety of hedge fund managers, venture capitalists and investment bankers — how to analyze a deal and make a decision quickly. It boils down to the traditional SWOT analysis, says Howard Cohl, director in Major Lindsey & Africa’s emerging markets group.
While many aspects of the EU's General Data Protection Regulation may be causing consternation in boardrooms around the world, one particularly innovative provision could benefit individuals and businesses alike by leveling the competitive playing field — the right to data portability, say José Vega and Amy Puckett of Bradley Arant Boult Cummings LLP.
More than 1 trillion euros' worth of nonperforming loans are concentrated in the periphery of the European Union, causing banking regulators and market participants to petition the European Union for help. However, EU laws could complicate a public intervention, say Omar Shah and Leonidas Theodosiou of Morgan Lewis & Bockius LLP.
By "unicorn" I don’t mean the next great tech startup with a valuation of $1 billion. I mean the new breed of lawyers realizing that there are better ways to get their day jobs done, says Lucy Endel Bassli, assistant general counsel leading the legal operations and contracting functions at Microsoft Corp.
To the extent that companies have tolerated predominantly male leadership in the past because it was deemed necessary for growth and prosperity, or viewed diversity and the underrepresentation of women strictly as human resources issues, a growing body of research suggests otherwise, say Andrea Mitchell and Valerie Hletko of Buckley Sandler LLP.
This autumn, the U.K.'s Financial Conduct Authority is consulting on extending the Senior Managers and Certification Regime from dual to solo-regulated firms in 2018. The most significant rule changes involve an increased focus on holding senior managers accountable, say attorneys with Baker McKenzie LLP.
Today's law firm chief financial officer should be involved in many areas beyond traditional financial management, including operations, risk management and information technology. He or she can support strategic planning throughout the process, from development of the plan to its implementation, measurement and eventual evolution, say Tyler Quinn and Marc Feigelson of Kaufman Rossin PA.