A U.K. appeals court's recent broad take on the protections legal privilege offers companies against demands from government prosecutors in a dispute over a Serious Fraud Office probe re-enshrines the confidentiality at the heart of the attorney-client relationship and offers comfort to multinationals facing cross-border investigations.
Over a quarter of U.K. and Irish residents in a recent survey have exercised their rights over their personal information, while around half have the confidence to challenge banks and insurers, just two months after the introduction of Europe's sweeping data regime, an analytics firm has reported.
The U.K. pensions regulator is helping huge multiemployer pension schemes to wind up safely and protect thousands of savers before tough new rules for the market go live in October, the watchdog confirmed on Wednesday.
The European Securities and Markets Authority urged pension schemes on Wednesday to continue dealing on trading venues, even though they will become subject to more stringent clearing obligations later this month.
Britain's City regulator is to scrutinize detailed allegations that Admiral Group PLC and two other insurers failed to disclose their exposure to climate change risk, as environmental campaigners increase pressure on the insurance industry to come clean.
Britain’s accounting watchdog came under renewed pressure from lawmakers on Wednesday to publish a report into PricewaterhouseCoopers LLP’s auditing of defunct retail chain BHS Ltd.
British life insurers could have to cut charges for hundreds of thousands of savers who dip into their pension savings early after the Financial Conduct Authority warned that customers are being ripped off, a major credit ratings agency has said.
A District of Columbia federal judge on Monday dismissed Vantage Commodities Financial Services LLC’s claims that seven reinsurers must help cover a $26 million arbitration award that the finance company won against its insurer, but he allowed Vantage to proceed with negligence claims against the broker that lined up the reinsurance coverage.
Munich Reinsurance Co. will stop investing in bonds and shares of companies that make more than 30 percent of their sales from extracting or burning coal, the world’s biggest reinsurer confirmed on Tuesday.
The U.K.'s Financial Conduct Authority detailed plans Tuesday to work with the U.S. Consumer Financial Protection Bureau and other regulators across the globe to create a network that will help financial technology firms test new ideas across jurisdictions.
Three east London insurance fraudsters who sold fake motor policies were sentenced to a suspended term totaling 57 months and 480 hours’ unpaid work, the Insurance Fraud Bureau said Tuesday.
The European Union has pledged to help financial services companies continue trading with Iran after rules designed to allow a wider range of European firms to bypass reimposed U.S. sanctions entered into force on Tuesday.
The Insolvency Service is to start interviewing former directors of collapsed construction giant Carillion PLC, which went bust with a pension deficit of at least £800 million ($1.04 billion) in January, as it steps up its investigation into one of the U.K.'s biggest corporate failures.
Pension funds risk losing billions of bounds through equity release mortgages if the U.K. housing market slumps, according to a report published on Tuesday that warned the Prudential Regulation Authority was “asleep at the wheel.”
Two insurers for Black & Veatch Corp. on Friday urged a Kansas federal judge to rule they don't have to cover any costs the engineering company has incurred as a result of construction defects at four power plants, while Black & Veatch countered that the Tenth Circuit's recent ruling in the case established that the carriers must shell out.
The Pensions Regulator said Monday it will prosecute a London-based accountant for knowingly providing false information about one of his employers in relation to the government’s workplace auto-enrollment initiative, marking the first time the watchdog has charged a third party for this offense.
An insurance broker has denied it is liable for arranging cover for a now-collapsed U.K. hotel chain that failed to pay out on flood damage in 2012 because the broker failed to disclose similar past claims, saying the hotel owner is responsible for the inaccurate claims history.
The pensions regulator has recruited three new members to an independent committee, which it said will increase its capacity to make decisions on whether to authorize trusts to set up so-called multi-employer schemes.
Legal & General Home Finance announced plans on Monday to help Britain’s 1.7 million interest-only mortgage customers repay their loans after the Financial Conduct Authority urged banks to offer more support to borrowers.
Barclays Bank has failed to provide more than 2,000 customers with information about how much they forked out for a controversial insurance policy, the U.K.'s competition authority said on Monday as it ordered the lender to issue consumers with annual policy reminders.
The last week has seen a Russian businessman's telecom company forge ahead with a commercial fraud claim against Russia's VTB bank, ED&F Man Capital Markets sue a rival brokerage and U.K. insurer RSA initiate the court process to transfer policies to its new Luxembourg unit. Here, Law360 looks at those and other new claims in the U.K.
Law360 speaks to Jeffrey Golden, joint-head of 3 Hare Court Chambers, and ex-Delaware Supreme Court justice Randy Holland about the importance of building contacts in different jurisdictions, how 3 Hare Court has been breaking new ground and building up a strong global practice, and which key trends they’re keeping an eye on within the legal industry.
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.
The shift to electronic filing has somewhat eased the task of reviewing briefs and their supporting files. An e-brief takes e-filing to the next level, says Christine Falcicchio, a principal at Strut Legal Inc.
Companies that become subject to parallel investigations in the U.S. and the U.K. must be mindful of the fact that taking the same approach to disclosure and cooperation in both jurisdictions may not lead to the most favorable outcome, says Robert Amaee, head of Quinn Emanuel's white collar and corporate investigations practice in London.
Last week, the U.K.'s Criminal Finances Act came into force, introducing new criminal offenses intended to help prosecutors prove when senior members of a company are actively involved in illegal activity. As the government continues to roll out new offenses, insureds should ensure that their directors and officers insurance policies keep pace, says Carey Lynn of JLT Specialty Limited.
For as long as e-discovery lawyers have been using technology assisted review, a belief has persisted that it cannot be used economically or effectively in small cases. But TAR can be highly effective in small cases, typically reducing the time and cost of a review project by 60 to 80 percent, say John Tredennick, Thomas Gricks III and Andrew Bye of Catalyst Repository Systems LLC.
The Sedona Conference Working Group's updated Sedona Principles provides a timely reminder that the legal industry needs to be thinking more seriously about the interconnectedness between e-discovery and information governance, says Saffa Sleet of FTI Consulting Inc.
Counsel fees, issue fees, risk of loss and the “additional” cost of a barrister mark significant differences between the U.K. and U.S. legal processes. The good news is that the bond between the U.K. and the U.S. arising out of our common history and law renders retaining and working with U.K. counsel seamless and rewarding, says Richard Reice of Hoguet Newman Regal & Kenney LLP.
Since the vote to leave the EU, ending the jurisdiction of the Court of Justice of the European Union has been the U.K. government's redline position. On the other hand, the EU has pressed hard to maintain the role of the CJEU as the guarantor of EU citizens' rights, say Cyrus Benson and Ceyda Knoebel of Gibson Dunn & Crutcher LLP.
Blockchain has grown well beyond its cryptocurrency roots, leading proponents to suggest that it can aid in everything from voter registration to supply chain tracking. Companies can prepare for insurability and regulatory issues by recognizing potential risks in advance, say Brian Scarbrough and Justin Steffen of Jenner & Block 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.