UK Financial Services

  • June 23, 2016

    Brexit Vote Casts UK Into Regulatory Wilderness

    Lawyers and lawmakers are braced on Friday for uncertainty following the U.K.’s vote to exit the European Union, leaving London to redefine and rewrite its trade and legal ties with the EU, the U.S. and the rest of the world.

  • June 23, 2016

    How Britain Could Challenge The Brexit Results

    The people of Great Britain have put to bed four months of divisive and bitter campaigning and decided that the best course for the U.K. is to leave the European Union. But despite a majority vote, there is an outside chance that this might not be the end of the matter after all.

  • June 23, 2016

    The EU Regulations To Watch Post-Brexit

    Now that the monthslong uncertainty surrounding the U.K.’s future as a member of the European Union is over, all eyes in the region will return once more to the waves of reform still sweeping over the EU almost 10 years after the global financial crisis.

  • June 21, 2016

    The Global Hot Spots Of 2016

    Brazil, South Korea and the United Arab Emirates have emerged as top hubs for international law firm expansion in 2016, amid a climate of increased capital investment, infrastructure projects, and mergers and acquisitions activity.

  • June 21, 2016

    Euro Area Banks Need Stronger Internal Safeguards, ECB Says

    Most Euro area banks still need to boost their internal governance and risk assessment processes two years after the implementation of new capital requirements, the European Central Bank said in a report released Tuesday.

  • June 21, 2016

    EU Gov'ts Finally Reach Deal On Anti-Tax Avoidance Laws

    The European Union’s finance ministers have officially agreed on draft rules aimed at stamping out corporate tax-dodging in the region following months of negotiations, according to a statement published Tuesday.

  • June 20, 2016

    Record Number Of UK Lawyers Register In Ireland Pre-Brexit

    A record number of British lawyers have registered to practice in Ireland so far this year amid worries that the U.K. will vote to pull out of the European Union and its legal infrastructure in the so-called Brexit, the Law Society of Ireland said on Monday.

  • June 17, 2016

    EU Finance Ministers Reach Tentative Anti-Tax Avoidance Deal

    The European Union’s finance ministers on Friday reached a provisional agreement for rules aimed at stamping out corporate tax dodging in the region, a top European Union financial official said.

  • June 16, 2016

    UK Watchdog Charges Five With £2.75M Investment Scam

    The U.K.’s Financial Conduct Authority has charged four men and one woman with offenses including fraud and money laundering linked to an alleged £2.75 million London-based "boiler room" scam, the watchdog said Thursday.

  • June 16, 2016

    Lloyds Bank Wins Right To Redeem £3.3B Notes Early

    Lloyds Banking Group PLC can redeem early debt securities the bank issued worth £3.3 billion ($4.7 billion), the U.K.’s Supreme Court ruled on Thursday to end an 18-month dispute between the British banking giant and BNY Mellon.

  • June 14, 2016

    EU Official Sees Progress On Deal To Curb Tax Avoidance

    European finance ministers could reach a hard-fought agreement for new anti-tax avoidance laws on Friday at their last meeting before the summer break, according to a top European Union financial official.

  • June 14, 2016

    Tech Solutions Emerge As Derivatives Laws Begin To Bite

    A Magic Circle law firm has partnered with a Big Four accountancy giant to offer a tech-driven solution for banks dealing with new regulatory burdens, as the legal industry scrambles to respond to a deluge of incoming financial services legislation.

  • June 13, 2016

    Reviving ABS Market Needs Lighter Touch, EU Says

    The European Commission’s financial services chief on Monday called for "prudence, not paralysis" when drafting plans to kick-start the asset-backed securities market, which has sputtered since the 2008 global financial crisis.

  • June 13, 2016

    Former Schroders Trader Gets 2 Years For Insider Trading

    A former equities trader at Schroders PLC on Monday was sentenced to two years in prison after pleading guilty to insider trading on merger and acquisition tips involving firms such as Hewlett-Packard Co., according to the U.K.'s Financial Conduct Authority.

  • June 13, 2016

    UK Financial Laws Still Full Of Holes, Advocacy Group Claims

    U.K. financial crime laws are still riddled with holes and inconsistencies that handicap the government's fight against fraud and money laundering, an influential anti-corruption group said in a report released Monday.

  • June 10, 2016

    EU Delays Swaps Collateral Rules Start Date To 2017

    The European Union will miss the September start date agreed to by regulators around the world for rules that stipulate how much cash banks must put aside to protect against counterparty risk in off-exchange swaps trades, the European Commission confirmed Friday.

  • June 9, 2016

    EU Watchdog's New Payment Authentication Rules Face Delay

    Europe's top banking watchdog will delay delivery of a key piece of payments reform until later this year, amid a growing workload of crafting a broad spectrum of new regulation, people familiar with the matter told Law360.

  • June 9, 2016

    UK Bar Sees Limited Surge In Post-Brexit Legal Work

    The surge in legal work that would likely follow a U.K. decision to leave the European Union would be “finite,” while longer-term prospects for the country’s legal sector would be at risk, a leading U.K. bar association said Thursday.

  • June 9, 2016

    EU Resumes Upgrade On Regulating Financial Conglomerates

    The European Commission on Thursday restarted the process of upgrading rules governing financial conglomerates made up of businesses like banking, asset management and insurance, a step taken four years after identifying weaknesses in the current regulatory set-up.

  • June 8, 2016

    EU Backs Overhaul Of Securities Prospectus Rules

    European Union governments on Wednesday backed plans to create a simplified, EU-wide rule book for securities prospectuses, a step aimed at boosting investor trust and broadening funding sources for small companies and startups.