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.
Europe’s three major European financial watchdogs have said that they will focus on protecting financial services and insurance consumers across the bloc against poor practices in retail investment, anti-money laundering and financial technology over 2019.
The U.K. Treasury minister for financial services said Wednesday that the City of London will remain a key financial center after Brexit and dismissed stories that there would be a mass exodus of staff and operations to other European Union jurisdictions once Britain exits.
The U.K. Treasury has unveiled draft regulations to preserve the Europe Union’s Solvency II capital regime for insurers after Brexit, quashing industry hopes that Britain will quickly soften the rulebook’s toughest demands.
Britain's top insurance lobby launched a campaign on Wednesday urging the Treasury not to raise insurance premium tax in this month's Budget, warning that the levy already costs every household in the country an average of £200 ($260) a year.
The financial services industry needs more support from other regulated sectors, including audit firms and the legal profession, to fight economic crime, a parliamentary committee was told Tuesday.
Lloyd’s of London pledged on Tuesday to pay "all valid claims" after March 2019 even if Britain crashes out of the European Union without a deal and the cross-border insurance industry faces a legal vacuum.
A hefty new levy on overseas pensions transfers raised just £1.4 million ($1.8 million) for the U.K. government in its first tax year, a fraction of the £65 million predicted, according to new data on Tuesday.
Two men have been fined for bribery and data protection offenses after they unsuccessfully attempted to sell private medical insurance policies to consumers whose data they had stolen, the City of London Police said on Tuesday.
The U.K.'s antitrust authority launched another investigation into the country's auditing sector on Tuesday, putting more pressure on the Big Four accounting firms amid concerns that audits for some major British companies have fallen short.
Europe’s top insurance regulator is seeking greater powers over national watchdogs, including the right to recommend changes to domestic capital requirements and to order swift investigations in individual member states.
The Bank of England called on the European Union on Tuesday to do more to protect cross-border financial services from the risks of a so-called hard Brexit, warning that negotiators have made only “limited progress.”
Europe’s top banking regulator called on Monday for an urgent increase in funding and clarification of its own powers to help fight money laundering and terrorist financing, amid mounting demand for tougher controls.
The U.K.’s Financial Reporting Council launched a program on Monday designed to improve auditing standards in the wake of a series of high-profile accountancy scandals, and revealed it will consider whether to ban auditors from doing lucrative consulting work for the bodies whose books they inspect.
A U.K. lawmaker called on the government on Monday to funnel more funds into agencies fighting economic crime so they can investigate financial fraud and other misconduct "to the fullest extent of the law."
The Financial Conduct Authority set out new rules on Monday that it said would help funds that hold illiquid assets, such as property and unlisted securities, to manage their risks and reduce possible harm to investors.
The Financial Conduct Authority is failing to enforce transparency rules under Europe’s securities trading regulation in “flagrant breach” of its statutory objective, a high-profile wealth management company claimed on Monday.
The government has set out measures that it said will help U.K. financial markets remain “fair, stable and transparent,” which include giving extended powers to British regulators, as it seeks to ensure the continuity of EU rules on transparency rules in the event of a “no-deal” Brexit.
Workers who take advantage of the U.K.'s controversial pension freedoms to dip into their savings 10 years before they retire will receive, on average, just 55 percent of the true value of their investment, data released on Monday suggests.
The last week has seen a London hotel group lodge competition claims against Visa and Mastercard, Hellenic Petroleum and 10 insurers take on a shipper, and VTB Bank sue a Russian billionaire's holding company connected to EN+. Here, Law360 looks at those and other new claims in the U.K.
The U.K.’s top financial lobby has called for a transitional agreement to protect 36 million cross-border insurance policyholders and £26 trillion ($34 trillion) of derivatives contracts, as fears grow of a “no deal” Brexit scenario.
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.
Newly proposed U.K. rules and the amended regime for the Committee on Foreign Investment in the United States will radically change how the two governments review sensitive transactions, which will affect the likelihood of deal clearance, deal timing and the drafting of appropriate contractual provisions, say Robert Bell and Jennifer Mammen of Bryan Cave Leighton Paisner LLP.
Several European countries have recently incorporated the "right to disconnect" from work into their domestic legislation. Currently, there is no equivalent law in the U.K., but as stress levels continue to rise, it is likely that U.K. legislators will follow suit, says Sarah King of Excello Law.
In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Melanie Green, chief client development officer at Faegre Baker Daniels LLP.
The recently issued National Security and Investment White Paper proposes a significant expansion in the U.K. government's powers to scrutinize foreign investments. If the proposals are brought into force, the U.K. regime will be one of the most stringent in the world, say Douglas Lahnborg and Matthew Rose of Orrick Herrington & Sutcliffe LLP.
After almost a year and a half of uncertainty, the U.K. Court of Appeal has restored the eminently sensible position that documents created in an internal investigation are capable of being covered by litigation privilege when a criminal investigation or prosecution is in prospect, say Simon Airey and Joshua Domb of Paul Hastings LLP.
Recent changes to the U.K. Corporate Governance Code should reassure investors that companies with a premium listing on the London Stock Exchange are committed to being standard-bearers. Issuers may also benefit from the workforce engagement, corporate culture and diversity changes that will be brought into businesses, say Joseph Ferraro and Jennifer Tait of Willkie Farr & Gallagher LLP.
In this new series featuring law school luminaries, Widener University Delaware Law School dean Rodney Smolla discusses teaching philosophies, his interest in First Amendment law, and arguing before the U.S. Supreme Court in Virginia v. Black.
In both the U.K. and abroad, the discounted cash flow methodology is often considered the "go to" valuation approach when conducting a damages assessment. However, DCF is not always appropriate and damages experts should know when to use the option analysis methodology instead, says Ronnie Barnes of Cornerstone Research Inc.
The United Kingdom has taken the unusual step of introducing significant retrospective powers that could unravel acquisitions and transactions from decades ago. The government's intentions are laudable, but its new "unexplained wealth orders" cast doubts on the U.K.'s appetite for foreign investment and may hurt national interests, says Simon Bushell of Signature Litigation LLP.
Once considered the “cliff edge,” the possibility of the United Kingdom exiting from the European Union without agreeing on a trade deal has moved from unthinkable to increasingly likely. Both sides are ramping up preparations for a no-deal scenario, which would have significant implications for businesses in all sectors, say attorneys with Baker McKenzie LLP.