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 U.K. pensions regulator on Friday turned up the heat on smaller defined contribution schemes, saying trustees were falling short in nine out of 10 plans and accusing them of “disappointing” progress on improving standards.
Oil and gas companies will be watching intently as Anadarko Petroleum Corp. heads to the Texas Supreme Court on Monday to challenge a ruling that insurance doesn't cover its $100 million defense bill in Deepwater Horizon litigation, in a case that energy industry groups have decried as an egregious example of insurers using courts to rewrite their policies.
U.K. pension schemes could shift more than £20 billion ($26 billion) of liabilities to the insurance industry this year, a senior pensions expert has predicted, as funds explore escape routes from Europe’s Solvency II capital directive.
The European Central Bank published guidance on Friday to ensure that financial technology firms have a “smooth and effective” process when applying for licenses that allow them to perform banking services in the eurozone, given the rise of interest from alternative lenders.
British Airways Pension Scheme trustees plan to urge the U.K. Supreme Court next year to make the national carrier pump a further £12 million ($15.7 million) into the fund following their defeat in July at the Court of Appeal, the trustees have said.
The European Union’s highest court said Thursday that financial regulators can be forced to disclose confidential information linked to a criminal case, but it is up to national courts to strike a balance between a person’s human rights and professional secrecy requirements before ordering them to do so.
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.
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 notice the European Commission released last November is factually accurate, but casts doubt on the continued efficacy of English courts without giving stakeholders the full story. The timing of its release was potentially by political reasons, says Louise Freeman of Covington & Burling LLP.
In "Justice and Empathy: Toward a Constitutional Ideal," the late Yale Law School professor Robert Burt makes a compelling case for the undeniable role of the courts in protecting the vulnerable and oppressed. But the question of how the judiciary might conform to Burt’s expectations raises practical problems, says U.S. Circuit Judge Allyson Duncan of the Fourth Circuit.
As litigation funding becomes more widespread, greater complexity and variability in funding deals are to be expected. All claimants should consider certain key questions on the economics of single-case funding when considering or comparing funding terms, says Julia Gewolb of Bentham IMF.
Blockchain technology holds great potential to revolutionize the financial services industry, but it is not quite there yet. More work needs to be done across development and regulation to win the full trust of the wider financial sector, says Ross Nicholls of IR Global.
Given the operational and security risks involved, and the substantial digital asset values transacted, the rise of distributed ledger technology and smart contracts will create new opportunities and responsibilities for transactional lawyers, say attorneys with Potter Anderson Corroon LLP.
One of the challenges American practitioners face in contemplating General Data Protection Regulation compliance is that the underlying principles and language of European data privacy law feel foreign. U.S. companies can prepare by adopting a 10-step framework, says Seth Berman of Nutter McClennen & Fish LLP.
While the U.S. has a long history of class action litigation, there are still many unknowns in the U.K. as to what the courts are looking for in order to certify a class. The recent filing of a lawsuit against Google will hopefully provide guidance on whether private group consumer redress will be successful on the other side of the Atlantic, says Lauren McGeever of Epiq Systems Inc.
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.