A major insurance lobby urged the European Union on Monday to explain how its new disclosure rules for investment products will affect indemnities, saying big legal questions remain over how the regime will work.
The Bank of England said Monday that it will publish material relating to investigations into the manipulation of a key global interest rate benchmark once it is able, after a secret recording reportedly emerged that allegedly implicates the central bank in the Libor rigging scandal.
Barclays PLC and its chief executive are being investigated by British regulators over the handling of a whistleblowing incident, the bank said Monday.
A judge in London's High Court berated the Financial Conduct Authority on Friday for "complacency" and taking a "haphazard" approach toward disclosure, serving defendants and other procedures, in the agency's suit over illegal sales of four collective investment schemes in the U.K.
Former Citigroup Inc. and UBS AG banker Tom Hayes, the first trader to be convicted for rigging a key global interest rate benchmark, plans to argue that developments in a separate trial support his case for an appeal, his lawyer said Friday.
A U.K. parliamentary committee said Friday that ministers must keep poring over and voting on EU policies up until the day of Brexit, citing growing concern that some departments may let their focus slide over the next two years as the U.K.’s departure from the bloc looms.
Britain’s top banking lobby challenged the Financial Conduct Authority on Friday over the regulator's plans to change the way firms fund a bankruptcy compensation scheme, saying the proposals favored a small minority of businesses.
The European Securities and Markets Authority clarified on Thursday how firms should apply specific cross-border investment rules for umbrella funds and alternative fund managers.
Ashurst LLP announced Friday it has expanded its banking team in Milan, Italy, hiring three lawyers from Norton Rose Fulbright including a finance partner who has close to 20 years’ experience advising banks and investors.
A long-running saga over European Union disclosure regulations for investment products has cleared its final hurdle, after a plan was quietly approved by the legislators holding up the reforms, a European Commission spokesperson revealed exclusively to Law360 Friday.
European finance chiefs said Friday that greater emphasis needs to be placed on nonbank sources of funding to help the region’s small and midsized enterprises ride out capital shocks and undertake cross-border activities.
Bank of England Governor Mark Carney on Friday urged banks to submit contingency plans for Brexit to ensure they are prepared for all potential outcomes once Britain exits the European Union.
The U.K.’s Financial Conduct Authority announced Friday it has fined and banned two former employees of a now-collapsed spread-betting business for engaging in market abuse relating to the company’s flotation on the London Stock Exchange in 2007 and hiding a £15 million ($18.6 million) cash shortfall.
The U.K.’s financial services watchdog announced Friday it is reopening an investigation into the events surrounding a £245 million loan fraud at HBOS PLC, almost a year after lawmakers slammed regulators for failing to hold senior management at the bank to account for negligence that resulted in its collapse in 2008.
Failure to fully implement international financial regulations will undermine cross-border regulation and jeopardize the reforms that have been put in place since the 2008 financial crisis, a top global regulator warned Thursday.
European regulators are frantically analyzing where, following Brexit, to situate the trillion-dollar euro-denominated derivatives clearing market, which is mostly carried out in London, a vice-president of the European Commission said Thursday.
New European Union investor transparency rules expected to be officially passed in June still leave significant scope for shareholders in some member states to avoid disclosing their identities, the EU’s securities watchdog said in a report published Thursday.
A fear within big banks that their revenue is at risk to stand-alone innovative companies has led to an increasing number of partnerships between large financial firms and financial technology providers, according to a report published Thursday by PricewaterhouseCoopers.
A key global regulatory committee set out guiding principles on Thursday for central banks weighing up whether to rescue major lenders if there's a repeat of the 2008 financial crisis.
Europe’s top securities regulator spelled out on Thursday exactly when issuers of structured finance must consider hiring a smaller credit rating agency to help make the agencies more competitive against the industry’s biggest players.
As companies ring in 2017, the challenges of navigating the new rules on transatlantic data transfers under the EU-U.S. Privacy Shield are now starting to emerge, says Kim Roberts of King & Spalding LLP.
Since 2008, the legal relationship dynamic has consistently evolved, leading clients to demand more "value" for services received. In 2017, investment in and adoption of new technology and prioritizing cybersecurity will lead to an increase in billable hours and shifts in realization rates, says Haley Altman of Doxly.
The policy considerations reflected in the English Arbitration Act of 1996 and the U.S. Federal Arbitration Act demonstrate a shared view favoring arbitration. However, on the question of judicial review of an arbitrator’s conclusions of law, the two jurisdictions have significantly different approaches, say Odean Volker and Helen Conybeare Williams of Haynes and Boone LLP.
The U.K. is expected to adopt a new foreign investment regime, the details of which are expected this month or early next year. Together with the potential impact of Brexit, this seems set to produce a foreign investment environment with more possibilities for political intervention, say Greg Lascelles and Ramon Luque of Covington & Burling LLP.
The offshore banking industry attracted global attention earlier this year with the publication of 11.5 million leaked documents detailing decades of information about over 200,000 bank accounts and shell companies. Jeremy Maltby and Grant Damon-Feng of O'Melveny & Myers LLP examine government responses to the Panama Papers and offer tips for companies to minimize their risk of exposure to unlawful shell company activity and its consequences.
Ever consider applying for a judicial appointment in California? Get the lay of the land from Judge George Bird of the Los Angeles Superior Court and Kimberly Knill, a senior appellate court attorney for the California Court of Appeal. Additionally, hear what several recent appointees to the LA Superior Court thought of the judicial selection process.
Gilbert Samberg, a commercial litigator and arbitration practitioner with Mintz Levin Cohn Ferris Glovsky and Popeo PC, shares practical advice regarding the factors to be accommodated in fashioning multistep ADR provisions that are both useful and likely to be enforced by the courts.
Women leave law firms for many of the same reasons men do, but also face challenges including headwinds with respect to assignment delegation and social outings, as well as potential disruptions if they choose to have children. Firms can increase investment in talent management and improve retention and engagement of women attorneys, says Anusia Gillespie of Banava Consulting.
The European Commission is going way beyond its previous Pan-European insolvency project of mutual recognition of insolvency procedures and entering the world of harmonizing laws. The U.K. has to keep pace — and must look west to the U.S., says Howard Morris, senior of counsel in the London office of Morrison & Foerster LLP.
We are privileged to be part of an employment market that hosts employees from various generations. While “differences” may imply inherent conflict, intergenerational differences can actually be used to an advantage for organizations — especially law firms, say Najmeh Mahmoudjafari, founder of ImmigraTrust Law, and William Martucci of Shook Hardy & Bacon LLP.