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TOP NEWS UK Eyes Investment Consultant Regulation After Bond Crisis The Financial Conduct Authority has said that it wants to extend supervision to the investment consultant market to prevent a repeat of the September 2022 government bond crisis that spilled over into the country's pension funds. Crypto Giant Coinbase Fined €3.3M By Dutch Regulator The central bank of the Netherlands said on Thursday that it has handed a fine of €3.3 million ($3.6 million) to Coinbase Europe, a cryptocurrency exchange, for operating in the country without the correct registration. FCA Warns Over 'Misleading' British Steel Pensions Redress The finance watchdog said on Thursday that it will take action against retirement advisers if it discovers they are miscalculating redress for former members of the British Steel Pension Scheme, as it faces a legal challenge over its £49 million compensation program. Forex Biz Says Transfer Deal Looked Like Money Laundering Foreign exchange business Ebury Partners UK Ltd. is pushing back on claims that it owes a Dubai law firm more than $1.8 million for backing out of a transfer deal, claiming that it suspected that the payment was for money-laundering purposes. Tradition Brokerage Disputes Liability In Carbon Credit Fraud A major brokerage firm argued on appeal Thursday that it was not close enough to the management and control of companies used as a vehicle for a U.K. carbon credits tax fraud to be liable to liquidators for millions of pounds. Watchstone Accuses PwC Of Leaking Info At £63M Trial Watchstone Group PLC accused PwC of leaking confidential information that gave law firm Slater and Gordon the upper hand during sale negotiations for a part of the insurance and technology provider's business as a trial got underway in London on Thursday. Attys Seek $4.5M Award In Yen-Libor Benchmark-Rigging Suit Lowey Dannenberg PC has asked a Manhattan federal judge to approve a $4.5 million award for its work representing investors in a sprawling benchmark-rigging action on the heels of a $22.5 million settlement resolving claims against certain major financial institutions, including Barclays PLC and broker ICAP Europe Ltd.
UK, EU Watchdogs To Swap Info On Benchmarks Enforcement The European Union's securities watchdog and the Financial Conduct Authority have agreed to swap information on enforcement and supervisory action directed against U.K. benchmark administrators that are recognized in the bloc. Parts Of Crypto Biz A 'Wild West', Treasury Committee Warns Approximately 85% of cryptocurrency firms that applied to the Financial Conduct Authority for registration failed to meet the minimum standards required by the regulator, the House of Commons Treasury Committee said Thursday. Slow UK Approval Process Hurting Business, Says City Group The U.K finance regulators' authorization processes for firms can be slow and unpredictable, according to a report published on Thursday by an industry-led body. No Tax Penalties For Innocent Errors, HMRC Boss Tells MPs The U.K. tax authority doesn't penalize innocent errors with additional fees, the head of HM Revenue & Customs told British parliamentarians Thursday when questioned over the scandal surrounding former Chancellor Nadhim Zahawi's taxes. Corlytics Buys ING's Regulatory Platform In €5M Deal Irish regulatory risk business Corlytics Ltd. said it has purchased ING Group's regulatory monitoring tool SparQ in a €5 million ($5.4 million) deal it believes could boost its compliance technology business. SPAC To Buy Back 95% Of Shares After Merger Talks End Disruptive Capital Acquisition Co. has set out plans to buy back 95% of its shares for up to £128.5 million ($159.3 million), after the blank-check company struggled in its attempts to find a merger target. Fountain Court Chambers Increases Pupillage Pay To £80,000 Fountain Court Chambers said on Thursday that it will increase its pupillage award to £80,000 as competition for talent among leading barristers' chambers heats up. 7 Areas To Look Out For In The Edinburgh Reforms Package Most of the proposed Edinburgh Reforms to facilitate the growth of U.K. financial services are already in progress, and while they may take months or even years to come to fruition, regulated firms should be aware of the considerable reach of the changes outlined and bookmark the areas of particular relevance, says Jill Lorimer at Kingsley Napley. Regulatory Terrain For Remote Lawyering Continues To Shift The rules around lawyering in states in which the attorney is not licensed have long generated confusion in the profession. But with the embrace of "virtual" practice, experts say the time is right for change — and continuing vigilance as the profession's standards evolve. Here, Law360 offers an overview of the current rules, related statutes, and instructive case law. Feature Appellate Practices Need Workhorses And Show Ponies Appellate life isn't all sparring at the U.S. Supreme Court. The best appellate practices blend those moments of high drama with the mundane but necessary mechanics of litigation that deliver the best results for clients. Here, appellate lawyers talk to Law360 about building a practice that strikes the right balance. NY AG May Fund Cuomo Harassment Defense After Ruling Former Gov. Andrew Cuomo won a key ruling Friday from a New York state judge that will likely require the attorney general to fund his private defense of a sexual harassment lawsuit brought by a state trooper. Mich. Panel Says COVID Tolling Orders Were Constitutional The Michigan Supreme Court was within its authority to push back deadlines for initiating lawsuits during the early days of the COVID-19 emergency, a state appellate panel said, reasoning that the high court's orders were procedural in nature and didn't improperly alter substantive law. In Case You Missed It: Hottest Firms And Stories On Law360 For those who missed out, here's a look back at the law firms, stories and expert analyses that generated the most buzz on Law360 last week. GC Cheat Sheet: The Hottest Corporate News Of The Week Two Delaware court actions top this week's news. In a first-of-its kind opinion that could have far-ranging impact on general counsel, the Chancery Court has ruled that a McDonald's executive breached his fiduciary duty by failing to act on sexual harassment complaints. And the bankruptcy court in Delaware hearing the FTX case has received a request to subpoena the crypto company's ex-CEO and his family. Podcast Pro Say: Courtside To Courtoom: Inside MSG's Attorney Ban Madison Square Garden has become the epicenter of an ugly turf war involving owner James Dolan, who has barred attorneys litigating against him from entering some of New York City's most hallowed venues, enforcing the policy with cutting-edge facial recognition technology and inviting a flood of litigation from the aggrieved lawyers. Texas High Court Will Hear Law Firm Shareholder Dispute The Texas Supreme Court has said it will review an intellectual property attorney's case over whether his former firm was allowed to redeem the entirety of his stock without compensating him when he was let go. Sullivan & Cromwell Wants 'Harassing' Subpoena Blocked Sullivan & Cromwell LLP on Friday asked a New York federal court to block an "improper and harassing" subpoena from investors suing Dallas Mavericks owner Mark Cuban over his work with cryptocurrency firm Voyager, telling the court that the firm has never represented Voyager and has no involvement in that case. Actual Malice Tests Required In Fox-Dominion Defamation Suit A Delaware judge on Friday declared Dominion Voting Systems a "limited" public figure for purposes of its $1.6 billion defamation suit against Fox News Network, but declined to approve toughened hurdles for Dominion's claim that Fox systematically lied about the company's role in the 2020 election.
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