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.
The Association of Investment Companies has called for the suspension of "actively misleading" European rules that require fund managers to provide investors with details on how they expect their products to perform, urging U.K. politicians to launch an inquiry into the issue.
The former head of the Serious Fraud Office will be kept away from working on any matters he was involved with while he led the U.K.'s white collar watchdog when he joins City law firm Slaughter and May as a senior consultant, according to a government letter published Wednesday.
British Airways’ pension scheme has shifted £4.4 billion ($5.8 billion) of liabilities to the insurance industry in Britain’s largest ever transaction of its kind, after regulators boosted their scrutiny of retirement funds following a series of corporate collapses.
Europe’s top insurance regulator has told Law360 that it would welcome new powers to contact insurers undercover as a “mystery shopper,” after European lawmakers demanded an expansion of its investigatory reach.
The U.K. aerospace industry has demanded negotiations with European Union officials about the future of travel insurance and aviation safety after Brexit, accusing the European Commission of blocking talks between airline regulators.
European insurers on Wednesday urged the Organisation for Economic Cooperation and Development not to stop major companies from legitimately using their own captive insurers in new transfer pricing guidance emerging from the organization's wider clampdown on tax avoidance.
New York has overtaken London as the world’s top financial center, according to a survey published Wednesday, which also revealed that several Asian cities are edging their way up the ranking for attractiveness and business-friendly regulation.
The U.K.’s data regulator is receiving around 500 calls a week to its hotline for reporting information breaches, nearly four months after Europe’s data protection regime went live in May, a senior official said Wednesday.
Domestic & General Insurance PLC has accused a second rival of malicious falsehood at London's High Court, claiming that it tried to poach customers by incorrectly telling them that D&G had gone out of business.
The European Parliament announced on Wednesday that it has approved new measures aimed at making it harder for terrorists and criminals to finance their activities by closing loopholes in current European Union anti-money laundering rules.
Europe’s top insurance regulator could be permitted to investigate companies undercover and record conversations in a sweeping expansion of its powers, under new legislative proposals before the European Parliament.
The Financial Conduct Authority received more than a thousand requests for help over the last year from regulators and law enforcement agencies around the world to help combat cases of financial crime, the watchdog's chief executive revealed on Tuesday.
The European unit of QBE Insurance Group has said it expects to win court approval to shift cross-border contracts out of Britain in December, amid fears that companies may break the law if they pay out to millions of policyholders after Brexit.
Bank of England chief Mark Carney will serve an additional seven months as governor, staying until the end of January 2020 to help support the Brexit transition, the government and the central bank said Tuesday.
The Serious Fraud Office's former director will join Slaughter and May as a senior consultant in October to counsel clients on regulatory investigations, the firm announced Tuesday.
Pension schemes will soon be forced to shed greater light on the environmental impact of their investments, the U.K. government said Tuesday, in a regulatory move applauded by climate change activists.
European regulators must gear up to prevent financial woes spreading between troubled securities, banking and insurance companies amid heightened risk from Brexit, three major financial watchdogs said Tuesday.
DLA Piper has announced that it has snagged an international insurance and reinsurance partner with experience in multijurisdictional disputes from Reynolds Porter Chamberlain for its London office.
Litigation funder Vannin Capital on Monday unveiled plans to float on the London Stock Exchange in a £70 million ($91.2 million) initial public offering, the same day it announced that a former Allen & Overy LLP senior partner has joined the firm as its newest chairman.
The Pensions Regulator warned on Monday that it will step up its scrutiny of smaller defined benefit schemes, accusing them of poor governance and questionable risk management.
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 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.
The U.K. Supreme Court's recent decision in Rock v. MWB came down on the side of commercial certainty, establishing that "no oral modification" clauses mean exactly what they say. Nonetheless, the decision may lead to some problematic cases, say Kathryn Rowe and Peter McMaster QC of Appleby Global.
The European Commission's proposal to amend key European fund management directives introduces new conditions for premarketing a fund in the EU. Unless this proposal is substantially loosened, managers may risk increased regulatory scrutiny if they continue with current fundraising practices, says John Young of Ropes & Gray LLP.
Section 51 of the U.K.'s new Anti-Money Laundering Act imposes public beneficial company ownership registers in the British overseas territories. A general push for enhanced disclosure can only be welcomed, but this particular initiative may not be the correct means to reach a worthy goal, say Ian Hargreaves and Stephanie Sarzana of Covington & Burling LLP.
Many legal teams involved in cross-border matters still hesitate to use technology assisted review, questioning its ability to handle non-English document collections. However, with the proper expertise, modern TAR can be used with any language, including challenging Asian languages, say John Tredennick and David Sannar of Catalyst Repository Systems.
Two years after the U.K. Financial Conduct Authority acknowledged the threat cyberattacks pose to the U.K.'s financial system, little progress has been made. The Prudential Regulation Authority's new operating standards, expected to publish this year, must show that it is taking cybersecurity seriously, but without stifling innovation, says Jamie Monck-Mason of Willis Towers Watson.
After the pain heals from what for many businesses was a last-minute scramble for General Data Protection Regulation compliance, many of these businesses will come to appreciate how the effort made them stronger from a compliance, security and even operational performance stance, say Howard Schiffman and Adam Cohen of Yeshiva University.
Although data sharing via application programming interfaces is not mandated in the U.S. as it is in Europe under the new Revised Payment Services Directive, financial institutions that do not embrace it risk being left behind in terms of both technology and partnerships, say Erin Fonte and Brenna McGee of Dykema Gossett PLLC.
Connecting with potential prospects is now more challenging due to the EU General Data Protection Regulation, meaning that law firm microsites, blogs and social media will become more valuable than ever. The firms that deploy them strategically will increase their relative visibility and accelerate the rebuilding of their opt-in distribution lists, says Stephan Roussan of ICVM Group.
The U.K. Financial Conduct Authority's recently published annual business plan and mission statement indicate an uptick in enforcement activity. Alongside this, the past year has seen a number of interesting court decisions dealing with claims for litigation privilege, say Abdulali Jiwaji and Elliott Fellowes of Signature Litigation LLP.