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.
The U.K. should set up its own tribunal to replace the European Court of Justice for interpreting domestic laws that implement rules from Brussels, a pro-Brexit legal group said.
An insurance broker that was ditched by one of its clients because its guarantees were no longer protected by the U.K.’s statutory compensation program has had its application for the decision to be granted judicial review dismissed, according to a High Court ruling seen by Law360 on Thursday.
Tougher global regulations have strengthened the role of top lawyers within banks and insurers and pushed them closer to the heart of corporate power, according to a forthcoming report seen on Thursday.
U.K. banks face a longer wait for clarity on a proposed Brexit transition phase after the European Union’s chief negotiator said Thursday it could be “months” before talks advanced that far, warning that more progress needs to be made on the basic terms of the U.K.'s exit from the bloc.
Insurance company managers and board members must do more to scrutinize the way firms assess their own risks and solvency needs, the European Insurance and Occupational Pensions Authority said in an article distributed on Wednesday.
Cleary Gottlieb Steen & Hamilton LLP continued building on its global roots this year, landing work on major cross-border transactions like GM’s European business sale as well as sovereign debt offerings for Iraq and South Korea to earn a spot on Law360’s Global 20 list.
A U.K. waste management company that alleges it was left underinsured toward losses of £1.3 million ($1.7 million) resulting from a series of fires at its recycling plant because of a botched insurance policy has denied instructing its insurance broker to obtain business interruption cover capped at £500,000.
The Malta Stock Exchange said on Wednesday that it has won regulatory backing allowing it to list insurance-linked securities, pitting it against a handful of offshore financial centers which dominate the multibillion-dollar market in London’s absence.
The Financial Conduct Authority has announced detailed plans for enforcing the European Union’s sweeping new insurance regime, which is designed to ensure fairer markets and boost consumer protection when it takes effect in February.
A South Korean state-owned oil company has claimed Zurich Insurance PLC cannot duck its obligation to pay out for accidental damage to underwater drilling equipment because the policy did not include standard industry wording that covers the risk of physical loss or damage to offshore construction schemes.
The U.K.’s state-backed terrorism reinsurer suggested on Wednesday that insurance companies should be forced to offer cover against extremist attacks to help reduce widespread exposure among businesses if there are further strikes.
Pension scheme asset managers will be forced to reveal their administration costs to the governors of the schemes from January under new rules drawn up by the Financial Conduct Authority.
Members of the European Parliament have suggested imposing stricter obligations on the bloc's executive arm to respect deadlines and granting wider access to working group meetings for parliamentary officials.
Europe’s insurance watchdog has called on the industry to put forward any questions they have on the implementation of the wide-ranging Insurance Distribution Directive so it can draft additional guidance, with five months to go until it comes into force.
The U.K. insurance industry jumped aboard a regulatory probe into comparison websites on Tuesday, adding its own demands that insurers be freed from restrictive contracts imposed by the sites.
Freshfields Bruckhaus Deringer LLP continued this year to flex its muscle as a cross-border powerhouse, advising on a slew of multibillion-dollar deals and guiding companies through high-stakes investigations and litigation to once again land the Magic Circle firm on Law360’s Global 20 list.
With personal genetic data tipped to help life insurers better calculate risk, industry professionals should devise a system of self-regulation before policymakers draw up stifling legislation instead, a leading insurance think tank has warned.
The success of Brussels’ ambitious plans for a cross-border pension will depend upon officials setting up a centralized register of authorized savings products, Europe’s top insurance regulator said Tuesday.
The European Commission should abandon plans for new powers to demand commercial information from firms, because they are disproportionate and offer inadequate data protection, a major lobby group has said.
The U.K.'s antitrust enforcer launched an investigation Tuesday into whether one home insurance comparison site's use of best price clauses violated competition law and detailed new rules for price comparison websites.