Barclays PLC scored an early victory in its £1.1 billion ($1.5 billion) legal fight with credit card provider CCUK Finance Ltd. on Tuesday when a High Court judge ruled the British lender can pursue a multimillion-pound payment protection compensation counterclaim against the firm.
The U.K.’s financial services watchdog said Tuesday it wants to harness technology to improve regulatory reporting by firms in the sector, using automated processes that could help eliminate inaccurate and inconsistent filing.
The scandal surrounding Carillion PLC, the construction giant which collapsed in January, deepened on Tuesday with revelations that Britain’s pensions regulator twice failed to act on requests to intervene from trustees of the firm's retirement scheme.
An appeals court in the U.K. rejected on Monday an attempt by a group of insurers to overturn a lower court’s ruling that Connect Shipping Inc. is entitled to claim £12 million ($16.8 million) in losses after one of its ships caught fire in the Red Sea near Egypt in 2012.
The U.K.’s Financial Conduct Authority said Monday it has sealed an agreement with the U.S. Commodity Futures Trading Commission to coordinate innovation in financial technology, a step the regulators hope will ease mutual market access.
Great Lakes Insurance SE has said a loss adjuster’s defense in a £2.5 million ($3.5 million) lawsuit against it over a botched repair job is “highly artificial" and does not provide a realistic assessment of the firm’s responsibility for faulty renovations to the roof of a listed building.
Countrywide Surveyors Ltd. has settled a claim it brought against a group of insurers over their refusal to pay out £5 million ($7 million) which the surveyor paid to mortgage lenders to end a dispute over 72 wrongly valued properties, according to court documents.
The Financial Conduct Authority revealed on Monday that the number of fraudulent "cloned" companies it has warned U.K. consumers about leapt by approximately 25 percent in 2017.
A nonprofit watchdog group dedicated to helping the U.K. insurance industry fight organized fraud networks revealed on Monday it had tapped Zurich Insurance and Allianz to add two senior executives to its board.
A parliamentary committee is to urge the U.K. pensions regulator to be ready to respond following reports that colorful millionaire Sir Philip Green may sell his retail empire, which is burdened with a £565 million ($791 million) pension deficit.
The last week has seen Chubb bring an action against U.S. forestry giant Weyerhaeuser, Russia's Kapital Insurance lodge a claim against more than a dozen insurers and reinsurers, and the Financial Services Compensation Scheme sue Heritage Corporate Trustees for breach of fiduciary duty. Here, Law360 looks at those and other new claims in the U.K.
The High Court in London has ordered the former president of Micronesia and two associates to pay nearly £52,000 ($73,000) in costs following a dispute over a ship that allegedly hit a coral reef in Micronesian waters, according to documents seen on Friday.
U.K. insurance brokers should decide swiftly whether to set up a new European subsidiary to keep business channels open after Brexit, Ernst & Young and a leading industry lobby have warned.
The Information Commissioner’s Office will not seek a retrial in its case against Hiscox Underwriting Ltd. over alleged breaches of data protection laws, because a key witness has fallen ill and will not be able to give evidence, a London court heard Friday.
The U.K.'s statutory compensation program said Thursday it is preparing to declare Active Wealth (U.K.) Ltd. in default after the firm came under scrutiny for advice it gave to members of the troubled British Steel Pension Scheme.
Pop star Kanye West’s touring company and syndicates of Lloyd’s of London on Wednesday resolved their California federal court dispute over $10 million worth of coverage for shows he canceled after reportedly having a mental breakdown last year.
The Financial Conduct Authority is preparing to publish a report by June on how insurers use Big Data sources for pricing their policies, including whether decisions are influenced by the names or addresses of insurance customers.
The U.K.’s Financial Conduct Authority has set out plans to allow innovators in the financial sector to test new products and services in multiple jurisdictions without the burden of regulation, building on its four-year-old domestic "sandbox" scheme.
In this monthly series, legal recruiting experts at Major Lindsey & Africa interview management from top law firms about navigating an increasingly competitive business environment. Here we feature Allison Friend, chief human resources officer for Hogan Lovells.
A pension trustee company has said in new High Court filings that debt regulations a Chinese shipping company is relying on to dodge payment of around £6.4 million ($9 million) do not apply, and that the defendant is liable to pay the debts.
Smart law firms are increasingly positioning professionals to proactively guide them as the legal landscape reshapes itself, harnessing six emerging roles within their organizational charts to embrace new approaches, tools and systems, says Rob MacAdam of HighQ.
Highly profitable companies have comprehensive corporate wellness programs that realize plateauing health care costs, greater employee engagement, and a demonstrable competitive advantage. The legal field needs a similar awakening, says Rudhir Krishtel, a former partner of Fish & Richardson and senior patent counsel at Apple.
While each new year is expected to bring fresh challenges to the legal industry, 2018 will be particularly disruptive to the status quo. Both law firms and organizations that cater to the legal community should prepare for developments like increasing pressure from international clients and data security risks caused by multigenerational gaps, says Jeff Ton of Bluelock LLC.
Despite early indications that the U.K.'s Financial Conduct Authority and the European Securities and Markets Authority would require investment firms' clients to obtain legal entity identifiers by Jan. 3, regulators have now extended the deadline by six months. There is no extra credit for timely compliance, but in the long term, noncompliant entities cannot sit back and do nothing, say Keily Blair and Andrea Holder of Pricewaterh... (continued)
France's recent settlement with HSBC under the new Sapin II anti-corruption framework could signal a new phase of government enforcement in the country. While the terms and structure of the settlement bear many similarities to deferred prosecution agreements in the U.S. and the U.K., they also differ in certain key respects, say attorneys with Skadden Arps Slate Meagher & Flom LLP.
Jay Greenberg and Max Volsky, co-founders of litigation finance platform LexShares Inc., analyze emerging trends based on conversations with their investors and executives in this rapidly evolving sector.
Study of the Enneagram personality typing system can provide attorneys with better insights into themselves, and into those they interact with professionally, including clients, opposing counsel and judges, says Jennifer Gibbs of Zelle LLP.
This year, the revised Payment Services Directive takes effect in the EU, providing the legal framework for open banking, which is intended to encourage competition in the retail banking sector by enabling customers to consent to allowing third parties safe and secure access to their current accounts, says Neil Warlow of JLT Specialty.
Blockchain's growth next year is unlikely to match its 2017 growth, but 2018 may well be a much more impactful year in the blockchain and cryptocurrency space. Emerging themes and initiatives include smart contracts, state-backed cryptocurrencies and the maturation of the initial coin offering market, says Austin Mills, head of the blockchain and cryptocurrency group at Morris Manning & Martin LLP.
For many female attorneys, the results revealed in the New York State Bar Association’s recently adopted report on female litigators in the courtroom were not encouraging but not terribly surprising. Each stakeholder in the litigation process — judges, law firms and corporate clients — should contribute toward increasing female voices in the courtroom, says Carrie Cohen of Morrison & Foerster LLP.