An English appeals court's recent decision dismissing a former Barclays trader’s bid to overturn a conviction for Libor-rigging bodes ill for similar appeals in connected cases that look to build arguments on a prosecution witness whose mistakes caused an “embarrassing debacle” for the Serious Fraud Office.

Saturday, March 24, 2018 Follow Law360



SFO's Expert Witness 'Debacle' Unlikely To Help Libor Appeals

An English appeals court's recent decision dismissing a former Barclays trader’s bid to overturn a conviction for Libor-rigging bodes ill for similar appeals in connected cases that look to build arguments on a prosecution witness whose mistakes caused an “embarrassing debacle” for the Serious Fraud Office. Read more »

ECB Licenses To Hold Fintech Firms To Bank Standards

The European Central Bank on Friday published guidance for financial technology firms hoping to secure licensing that would enable them to perform banking services in the eurozone, reminding the new entrants they will be “held to the same standards” as traditional lenders. Read more »

Investment Advisors Failing To Pick Best Funds, CMA Says

The U.K.’s competition watchdog said it has found "no evidence" that asset management products that have been recommended to customers by the trillion-dollar investment consultant sector are providing better returns for investors than other funds. Read more »


Brexit Transition Deal Doesn't Remove Legal Risks For City

European Union leaders have signed off on a draft treaty to move forward negotiations with Britain on its exit from the bloc, including a 21-month transition deal, but U.K.-based financial services have been warned against dropping contingency plans for a no-deal Brexit scenario. Read more »


Forex Fraudster Gets 16 Months For Perverting Justice

A convicted fraudster who scammed investment clients through ostensible foreign exchange trading out of £5 million ($7.1 million) that he spent on a lavish lifestyle was sentenced at a London court on Friday to 16 months in jail for perverting the course of justice. Read more »

UK Litigation Roundup: Here's What You Missed In London

The last week has seen a commercial fraud claim against Pakistan's United Bank Ltd., a contract dispute between two hedge funds, and a professional negligence suit against tax and trust specialist Withers LLP. Here, Law360 looks at those and other new claims in the U.K. Read more »


Aviva Retreats From £450M Share Buyout After FCA Probe

Aviva PLC backed down on Friday from plans to buy back £450 million ($635 million) of high-yielding preference shares following pressure from U.K. lawmakers and the Financial Conduct Authority. Read more »

Global Watchdogs Mull Tweaks To Bank Buffers To Cut Risk

Global regulators proposed revisions on Friday to the way banks calculate the amount of capital that they must hold in order to absorb losses as the watchdogs press ahead with reforms to global regulation in response to the financial crisis. Read more »

EU Gov'ts Adopt Tough Trade Stance On Post-Brexit UK

The heads of the European Union's governments adopted a joint negotiating position on Friday for establishing a trading relationship with Britain after Brexit, listing a series of restrictions to EU market access for British financial services. Read more »


With The GDPR, The Dawn Of The New Normal Approaches

With the General Data Protection Regulation on the horizon, companies' GDPR governance should be set up to work seamlessly. Those with GDPR responsibilities should ensure that individuals' rights are accounted for and that employees do not become weak links in data security, says Maarten Stassen of Crowell & Moring LLP. Read more »


Chadbourne Gets Nod For $3.1M Deal Ending Sex Bias Suit

A Manhattan federal judge has signed off on a $3.1 million deal to end a proposed class action brought by three female lawyers alleging that Chadbourne & Parke LLP, which merged with Norton Rose Fulbright LLP last year, systematically underpaid women. Read more »

Senate Confirms 5th Circ.'s Prado As Envoy To Argentina

The Senate has approved of sending Fifth Circuit Judge Edward C. Prado to Argentina as President Donald Trump’s ambassador there, ending his 35-year career as a federal judge. Read more »

Bar Prep Co. Blasts Rival's Appeal In Antitrust Row

Barbri Inc. joined a chorus of law schools in urging the Second Circuit not to revive a rival’s antitrust and racketeering claims, which allege that Barbri and the schools conspired to stifle competition for bar exam preparation, arguing Thursday LLM Bar Exam LLC hadn’t plausibly alleged a monopoly existed. Read more »

GC Cheat Sheet: The Hottest Corporate News Of The Week

P​resident Donald Trump said he will likely nominate the solo practitioner who took on UPS in a pregnancy discrimination case that went all the way to the U.S. Supreme Court as general counsel of the U.S. Equal Employment Opportunity Commission, and female general counsels shared with Law360 how they're transforming their legal departments and other women's professional lives. These are some of the stories in corporate legal news you may have missed in the past week.​ Read more »


Law360's Pro Say: Inside The Downfall Of Latham's Chairman

On the latest episode of Law360's Pro Say podcast, we share the inside story of Latham & Watkins Chair Bill Voge's resignation after revelations that he'd engaged in a pattern of reckless behavior. We also discuss a controversial copyright ruling over the song "Blurred Lines," the legal blowback Facebook will face over the Cambridge Analytica scandal, and Lindsay Lohan’s new gig for a lawyer referral site. Read more »

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