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.
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.
Private equity firm Spokane Investments has denied claims that one of its directors misled it about how much he had paid for a majority stake in Laboratoires Mitry Mory, a life science company into which the Swiss private equity firm invested around €3.5 million ($4 million).
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.
Victims of pension scammers are losing an average of £91,000 ($116,297), the Financial Conduct Authority and The Pensions Regulator said on Tuesday, as they launched a campaign underlining the risks from the U.K.’s controversial pensions freedoms.
A property investment firm has rejected as “pure fabrication” claims that its founder was behind a scheme to funnel £14.5 million ($18.5 million) away from the business, saying the firm’s former chief executive is trying to dodge allegations that he orchestrated the fraud.
Lloyds Bank PLC has denied it missold two interest rate derivatives to a property investor, describing his claim that he suffered losses of around £10.4 million ($13.3 million) as “unrealistic and fanciful” in documents filed at a London court.
The former trust company for a British Virgin Islands-based investment trust has issued a claim against the trust’s current administrator for an indemnity covering it against potential losses stemming from its legal battle in England with Cayman Islands asset manager Falcon Asset Finance.
Police have warned of a rise in cryptocurrency fraud as they struggle to keep up with with criminals turning to new technology to exploit investors, after British consumers lost more than £2 million ($2.6 million) in two months.
A group of MPs is calling for a “full public inquiry” into abuses by banks and their senior managers after the Financial Conduct Authority admitted it could not take action against the Royal Bank of Scotland over mistreatment of small business customers.
The Financial Reporting Council has accused PricewaterhouseCoopers of making “incomplete, inaccurate and misleading” statements about the ability of British store chain BHS to stay afloat just before it was sold off for a nominal £1, a leaked report reveals.
The last week has seen the Financial Conduct Authority take on a financial consulting firm, engineering company Doosan Babcock sue insurer Acasta, and a new action from private equity-linked firms that have already brought multiple actions worldwide after KPN Group acquired a Thai wind energy company. Here, Law360 looks at those and other new claims in the U.K.
Prosecutors pushed back on an ex-Barclays trader’s motion to dismiss the criminal “front running” case against him Friday, arguing that the question of whether he had a duty to act in the best interests of Hewlett Packard Co. in a £6 billion foreign currency options transaction can only be determined by a jury.
A class of over-the-counter investors urged a New York federal court Thursday to keep alive its antitrust claims against affiliates of Bank of America N.A. and JPMorgan Chase Bank N.A. in sprawling multidistrict litigation over alleged manipulation of the London Interbank Offered Rate.
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.