Financial Services UK

How Hague Enforcement Initiative Compares To EU Regimes

The Hague Conference on Private International Law's latest convention on cross-border enforcement may create an international dispute resolution framework, and could provide the U.K. with useful alternatives to EU regimes in the event of a no-deal Brexit. However, it is not guaranteed to be a true game-changer, say Andrew Stafford and James Chapman-Booth of Kobre & Kim.

Series

Why I Became A Lawyer: Expanding The Meaning Of Diversity

My conservative, Catholic parents never skipped a beat when accepting that I was gay, and encouraged me to follow my dreams wherever they might lead. But I did not expect they would lead to the law, until I met an inspiring college professor, says James Holmes of Clyde & Co.

2 Perspectives On Navigating The Litigation Funding Process

Paul Martenstyn of Vannin Capital and Daniel Spendlove of Signature Litigation share their top tips on how to get a case funded, drawing from their respective experience as a funder and a lawyer.

'Warehousing' Structures May Violate EU Merger Regulations

The recent fine in the Canon/Toshiba case demonstrates the European Commission's narrow approach to "warehousing" structures and further blurs the line between how gun-jumping and legitimate preparation of mergers are interpreted in EU merger agreements, say Tobias Caspary and Penelope Hale of Fried Frank.

UK Unexplained Wealth Orders Are On The Rise

U.K. enforcement agencies are growing more comfortable in utilizing unexplained wealth orders and undertaking the complex investigations that follow, but the vast majority of international businesses and private clients in the U.K. with wealth situated overseas should not fear that UWOs will be used against them, says Zoya Burbeza of Zaiwalla & Co.

When Shareholders Can Bring Direct Claims In Cayman Court

Two recent Cayman court decisions highlight the limited situations in which a shareholder may bring a direct claim against a director or a third party and the importance of ensuring that claims are commenced by the proper plaintiff, say attorneys at Appleby Global.

Lessons From The Global Forestry Investments Scheme

The Global Forestry Investments case's progression, from the Insolvency Service's involvement to recent charges by the Serious Fraud Office, indicates that those responsible for serious financial losses may face criminal prosecutions in addition to regulatory penalties, says Maria Theodoulou of Stokoe Partnership Solicitors.

Assessing Risk For AI Trained By Tainted Data In The EU

In Europe, evaluating the risk of launching an artificial intelligence system trained by tainted data can be challenging, but identifying the relevant rights, possible sanctions and whether the issue is ongoing can put lawyers well on their way to understanding the risk profile, say Toby Bond and Nick Aries of Bird & Bird.

Helpful Insights On Arbitration Jurisdiction From UK Court

The U.K. Commercial Court's recent decision on arbitration jurisdiction in Minister of Finance v. International Petroleum Investment makes clear that the court will not unnecessarily interfere with arbitration proceedings, but it will be ready to intervene where appropriate, say Ioannis Alexopoulos and Nikoletta Beneki of Signature Litigation.

Pros And Cons Of UK Deferred Prosecution Agreements

Since deferred prosecution agreements were introduced in 2014, the Serious Fraud Office has initiated five DPAs that have received formal declarations from the court. Opinions are divided as to whether these agreements improve long-term compliance or allow corporates to pay their way out of prosecution, says Perveen Hill of BDB Pitmans.

Perspectives

2nd Circ.'s Approach To Bail Is Backward

The Second Circuit's decision in United States v. Boustani correctly identifies the dangers of a "two-tiered" bail system, but the proper solution is to make bail more accessible to everyone, not to fewer people, says Alexander Klein of Barket Epstein.

3 Steps To Calculating Damages For Unnecessary Injunctions

A recent Cayman Islands case, Ennismore v. Fenris, sheds light on the process for assessing how much plaintiffs should pay to defendants if they called for a pretrial injunction that the court later finds should not have been granted, say Nicola Roberts and Laura de Heer of Harney Westwood.

How New EU Cyber Sanctions Compare To US Policy

The Council of the European Union recently adopted new cybersecurity legislation that imposes sanctions on people and entities responsible for cyberattacks rather than on states. Attorneys with Crowell & Moring discuss the scope of the new EU sanctions regime, how it is similar to U.S. cyber sanction policy, and its potential impact.

UK Financial Orgs Could Face Cyber Enforcement On 2 Fronts

A recent uptick in cyberincident reports in the U.K., combined with the Information Commissioner's Office and Financial Conduct Authority's joint approach to General Data Protection Regulation enforcement, suggests that U.K. financial services firms could be at high risk for simultaneous enforcement actions from the two regulators, say Rob Dedman and Kim Roberts of King & Spalding.

VAT Questions For UK Firms' Disbursement Processes

Two recent U.K. decisions indicate that disbursements in the legal sector are treated inconsistently and often inaccurately for value-added taxes purposes. At the very least, law firms should not simply accept their current disbursement processes as correct, say Keri Pay and Robert Marchant of Crowe UK.