New European regulations that will take anonymity out of cryptocurrencies could be the nascent market’s entry into mainstream finance, with legal experts predicting that new laws will convince more businesses and investors that payment innovations like bitcoin are legitimate.
The U.K. arm of Indian lender ICICI Bank has said in a U.K. court filing that India's second-largest oil company should withdraw allegations the bank used aggressive tactics and threats to pressure the company into entering a $66.5 million loan facility in 2011.
All banks operating in the euro area will be subject to a common supervisory methodology by the end of 2020, regardless of their size, the European Central Bank said Wednesday as it reminded national regulators to start implementing the required changes.
The U.K. Treasury announced Wednesday it is preparing deposit insurance regulations to guarantee that savers and policyholders can still win compensation when a bank or insurer collapses after Brexit.
Ireland's central bank could impose gender diversity targets on the state’s lenders if they fail to increase the number of women at senior executive and management levels, a senior regulator said on Wednesday.
A mortgage broker in the U.K. that financed an investor’s £20 million ($25 million) real estate portfolio has rejected the property developer’s claims that it wrongly demanded interest payments on a loan and caused him millions of pounds in lost rental income.
New rules requiring retail banks to disclose more information that took effect on Wednesday will allow customers to compare providers’ accounts and help accelerate the spread of financial technology as lenders compete to offer the easiest access, industry experts said.
The Financial Conduct Authority warned on Wednesday that a rise in “tick-box” compliance at intermediary firms specializing in mortgage lending has led to inflexible handling of complaints, causing "potential harm" to customers.
PricewaterhouseCoopers LLP may have compromised its audits for the parent company of defunct retail chain BHS Ltd. after it earned nearly £3 million ($3.8 million) carrying out other services for the same company in a single year, the U.K.’s accountancy watchdog said on Wednesday.
The multinational Spanish banking group Banco Bilbao Vizcaya Argentaria SA has initiated arbitration against Bolivia as the country looks to shift the management of public pension funds from a BBVA unit back to the government, saying they've been unable to come to an agreement on compensation.
The Royal Bank of Scotland will pay the U.S. $4.9 billion to end claims the bank deceived investors about poor-quality loans behind its residential mortgage-backed securities in what the U.S. Department of Justice on Tuesday called its largest civil penalty against a single corporate entity over the financial crisis.
Euronext said Tuesday it has bought out the remaining minority stake of its Fastmatch unit held by the currency trading business' founder after the former executive sued the European stock exchange for wrongful termination in New York federal court.
The Bank of England has launched the next phase of its settlement system renewal program, asking for feedback on a new “synchronization” feature that would allow firms to tie the movement of cash or assets in the central bank’s settlement system with the movement of cash or assets in other systems.
Spokane Investments Ltd. has hit back at CMS' efforts to shift the blame for millions of euros worth of investment losses onto one of the private equity firm's former directors in a negligence suit against the law firm in London.
More than a third of Lloyd’s of London managing agents believe the market must overhaul its rules if the lucrative trade in insurance-linked securities is to thrive after major regulatory changes in 2017.
An investment firm owned by the Hinduja Group, an Indian conglomerate, has halted its lawsuit in England against a former director who it accused of refusing to return important company documents after he was fired for allegedly mismanaging the business.
Members of the European Parliament have proposed changes to the legislative text that will underpin the EU’s new rules for crowdfunding, as they seek new controls on initial coin offerings and greater enforcement powers for national regulators.
Europe’s top securities regulator has registered Moody’s Sweden-based Nordics as an authorized credit rating agency, a month after it cracked down on some of the region’s biggest banks for rating debt without clearance.
The Court of Appeal has rejected an appeal by a BNP bank employee who sued Club Med and its insurers after he fell while climbing an ice wall in France on a trip sponsored by the lender, ruling that the dispute falls within English law under the terms of the booking contract for the adventure.
Online broker Plus500 Ltd. has warned that a clampdown by European regulators on highly speculative trading products that came into effect this month will probably rein in the fast-growing sector.
UBS AG asked a New York federal judge on Monday to dismiss Bloomberg's suit alleging that it unlawfully redistributed proprietary data through its portfolio analysis and risk management software, saying that England — the place where the disputed actions of UBS Delta took place in their entirety — is a more appropriate venue.
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.
Depending on your political beliefs, the U.K. Supreme Court's recent judgment in Goldman Sachs v. Novo Banco either illustrates the benefits of remaining in the European Union or highlights the dangers of not breaking free from it, says Ben Pilbrow of Shepherd and Wedderburn LLP.
Only 10 years ago, third-party funding was an exotic black art at the fringes of appropriate behavior in the United Kingdom. Now it is formally approved and championed by Court of Appeal judges and there is a wide range of funding options available to practitioners, says Guy Harvey of Shepherd and Wedderburn LLP.
In response to the evolving geopolitical threats of the 21st century, the United Kingdom at the end of July began an initiative to enhance its powers to review or block foreign acquisitions of sensitive British assets. The challenge will be striking a balance between protecting legitimate strategic concerns and facilitating international investment, say attorneys at King & Spalding LLP.
The idea of holding companies criminally liable for human rights abuses committed overseas has gained traction over the past decade. Though the U.K. government has made it clear that it has no immediate plans for further legislation in this area, calls for corporate criminal liability are only likely to get louder, say Andrew Smith and Alice Lepeuple of Corker Binning.
The world of international litigation and arbitration tends to move slowly — however, I expect the pace of change to accelerate in the coming decade as six trends take hold, says Cedric Chao, U.S. head of DLA Piper's international arbitration practice.
A Dutch court's approval this month of a €1.3 billion ($1.5 billion) collective settlement of claims brought by shareholders of the former Fortis shows that the Dutch Act on Collective Settlement of Mass Claims can be used to resolve transnational disputes on a classwide, opt-out basis, say Jonathan Richman of Proskauer Rose LLP and Ianika Tzankova of Tilburg University.
The U.K. High Court's recent decision in Breeze and Another v. Chief Constable of Norfolk illustrates the great difficulty shareholders face when trying to recover loss caused by a wrong done to a company, especially if the company is unwilling or unable to pursue the claim itself, say David Gerber and Joshua Reynolds of Arnold & Porter.
The U.S. Department of Justice and the U.S. Securities and Exchange Commission have stood by an expansive theory of anti-bribery liability under the Foreign Corrupt Practices Act for corrupt hiring schemes. After the recent Credit Suisse resolutions, the theory appears to be here to stay, says Bruce Searby, a partner at Searby LLP and a former federal prosecutor.
While I read with interest Law360's report analyzing the top 20 global law firms of 2018, I also noticed it doesn't tell the whole story. Global networks of independent law firms compare favorably with multinational firms in terms of geographic coverage, legal expertise, and awareness of local cultures and customs, says Glenn Cunningham of Interlaw Ltd.
The U.K. Financial Conduct Authority has acknowledged that Brexit will present challenges, and will set aside some resources in preparation, but its business plan for 2018-2019 sends a strong message that there will be no let-up when it comes to detecting and prosecuting market abuse, says Ben Ticehurst of Rahman Ravelli Solicitors.