British regulators set out on Tuesday how they will enforce new European Union payment regulations that take force in January, warning firms they face new licensing requirements.
The U.K. government on Tuesday backed plans to reform corporate takeover procedures that call for greater disclosure from bidders and which would give the companies in their crosshairs more time to prepare.
The Financial Reporting Council announced on Tuesday that it has dropped its investigation into the conduct of KPMG LLP’s audit of HBOS PLC in the months before the bank had to be rescued during the 2008 financial crisis.
Hogan Lovells may have slowed its expansion, but the depth of its staff has served it well over the last year in complex and labor-intensive matters like Libor litigation, securing it a place in Law360's Global 20 for the seventh year running.
The European Commission gave final approval Monday to Royal Bank of Scotland PLC's bid to avoid selling off a subsidiary under the terms of its financial crisis bailout, finding a new roughly £800 million ($1.1 billion) plan to support challenger banks would do enough to improve competition.
In place of exacting and complex rules, banking supervisors should be given more powers to use their discretion as they carry out oversight of the financial sector across the eurozone, a senior European Central Bank official said on Monday.
A U.K. software company said on Monday that it is working with U.S. law enforcement after hackers compromised free computer-cleaning software used by more than two million people.
The International Swaps and Derivatives Association, a global trade association for the derivatives markets, published recommendations Monday to wrap up clearinghouses when they hit the rocks.
Sidley Austin LLP announced on Monday that it has hired the former U.S. Ambassador to the European Union to serve as senior counsel at the firm’s international trade and cybersecurity practices in London.
The U.K. government has set up a taskforce of senior financial experts, as it announced plans on Monday to accelerate the growth of green finance and boost Britain’s low-carbon economy.
Arle Capital Partners Ltd., the buyout group spun out of Candover Investments PLC in 2010, is seeking around £900,000 ($1.2 million) it alleges it is owed from the private equity investment trust for managing three of Candover’s funds, according a claim filed in London’s High Court.
Britain laid out its proposals on Monday for a new security treaty with the European Union after Brexit, committing to continued membership of the EU's specialist terrorism squad as the U.K. seeks to protect financial services firms from the growing threat of cyber-crime.
Britain’s finance watchdog on Monday warned firms hit by wide-ranging EU market reforms due to enter into force in less than four months that they need to take "immediate action" and file all outstanding applications for authorization.
The European Central Bank fined Banca Popolare di Vicenza €11.2 million ($13.4 million) Friday for running afoul of European Union disclosure rules and exposure limits, as the head of the EU's Single Resolution Board cited the failed bank as evidence of the need for more work on the bloc's rescue regime.
European Union finance ministers emphasized Friday the need to begin crafting regulation to address the risks that new financial technology poses to consumers despite the potential benefits of innovation in the field.
The last week has seen an Italian wheat trader team up with AIG and other insurers to sue a shipping firm, MasterCard bring an intellectual property claim against a payroll services provider, and a conveyancing law firm take on Metro Bank. Here, Law360 looks at those and other new claims in the U.K.
The European Union’s highest court on Thursday handed a win to the trustees of British Telecommunications’ pension fund in their challenge to U.K. legislation denying shareholders tax credits on their cut of foreign-sourced earnings, finding the government flouted an EU law regarding the free movement of capital.
The emergence of initial coin offerings, which promise investors huge returns through digital currency instead of stock, may be the unlikely answer to jump-starting Europe’s sluggish capital markets, giving regulators the first test of their pledge to take a hands-off approach to fintech.
London-based financial blockchain company SETL said Friday it has partnered with four of the largest asset managers in France to launch a pan-European fund record-keeping platform based on blockchain technology, in the latest collaborative tie-up for the financial sector.
London’s financial services sector is at a crossroads and desperately needs more clarity from the government on Brexit to safeguard its future, industry lobbyists told Law360 on Friday.
The increasing attention to Libor's phaseout is sending a strong signal to derivatives markets and derivatives market participants to prepare for this major financial change. The phaseout will also raise intriguing regulatory issues, say attorneys with Skadden Arps Slate Meagher & Flom LLP.
Last month, the U.K. government announced its plan to implement a data protection bill that will avoid disadvantageous divergence with the EU's data protection regime. Companies in the U.K. should take this opportunity to clean up their data protection practices, and may need to look at other protective measures depending on the U.K.'s data protection adequacy, say Sarah Delon-Bouquet and Roman Madej of Bryan Cave LLP.
The range of possible and better fee agreements is wide. But such alternatives will become popular only if litigants confront the psychological tendencies shaping their existing fee arrangements, says J.B. Heaton, a partner at Bartlit Beck Herman Palenchar & Scott LLP.
Responding to regulatory requests is a normal part of a bank’s operations, but a poorly written or confusing response may cause an agency to make assumptions about a bank that are not true. Tilcia Toledo of FTI Consulting Inc. offers 10 ways financial institutions can avoid sending negative messages in their responses.
In Chesterton v. Nurmohamed, a U.K. appeals court recently found that disclosing a breach of a worker's contract may satisfy the public interest requirement for whistleblower protection if a sufficiently large number of other workers are affected. This decision may cause some concern for well-known employers, say Emma Vennesson and Katherine Newman of Faegre Baker Daniels LLP.
As judges become better educated about the complexities of collecting electronically stored information, in particular the inefficacy of keyword searching, they are increasingly skeptical of self-collection. And yet, for many good reasons (and a few bad ones), custodian self-collection is still prevalent in cases of all sizes and in all jurisdictions, says Alex Khoury of Balch & Bingham LLP.
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.