The past week has seen a corporate finance firm take in a British airline, a financial adviser sue a renowned restaurateur and a group of luxury hotels take on Visa and Mastercard over competition claims.
Investec Bank on Friday challenged a decision by a London judge allowing the family of a bankrupt man who defrauded an investor to recover legal costs after the bank went after their properties to satisfy money the man owed to the bank.
The mastermind behind one of Britain's biggest cyberscams must pay £2 million ($2.6 million) to compensate his victims within three months or face a further eight years in jail, according to a confiscation order delivered under the Proceeds of Crime Act.
A London judge Friday opted not to decide if Qatar National Bank can give Eritrea notice of a $250 million lawsuit over an unpaid loan outside of normal diplomatic channels until after an appeals court weighs in on the matter of how to properly serve countries.
Britain's financial compensation scheme said Friday it is exploring whether investors tied up in a £236 million ($310 million) mis-selling scandal are due redress, a partial U-turn on its previous position.
Dublin stockbroker Campbell O’Connor has been hit with a €280,000 ($315,000) fine for multiple anti-money laundering and terrorism financing compliance failures, the Irish Central Bank announced Friday.
The former top lawyer at a financial company accused of taking part in a $1.9 billion fraud against the Danish revenue agency has proclaimed ignorance of any wrongdoing, saying he held no tax qualifications and relied on expert colleagues to help him with certain aspects of his job.
Britain’s payment regulator has said it will delay imposing tough safeguards on banks for authenticating the identity of customers until December, so it can introduce rules aimed at stopping people being duped into sending money to fraudsters across all banks.
A judge at a London court has ordered a subsidiary of PricewaterhouseCoopers not to read court documents in its possession connected to a $1.9 billion claim for embezzlement filed by a Ukrainian bank against its two former owners.
Danske Bank said Friday it has appointed a new chief executive to steer it out of a major money laundering scandal that has attracted regulator scrutiny from several jurisdictions in Europe and the U.S.
A British asset manager has scaled back its lawsuit accusing the Co-Op Bank of cutting it out of a hotel development project after a judge in London slashed some of its claims, saying the bank still owes it millions of pounds for resolving questions about a lease.
RBS faces the prospect of a raft of litigation after settling a wage discrimination case with a female support analyst who claimed she was being paid less for doing the same job as a male colleague, the union that backed the case warned Thursday.
A former UBS compliance officer accused of providing inside information to her day trader friend on potential takeovers the bank was advising on had company documents and handwritten notes about some of the companies involved in the deals at her home, a London jury heard Thursday.
A London judge refused Bank Mellat’s bid to add to its $1.6 billion claim against the U.K. government over the enforcement of sanctions that were later struck down, saying Thursday there was not enough time for the amendment to be dealt with ahead of the start of trial next month.
A London court has slapped a 14-year ban on the boss of a company for allegedly misleading his clients when offering them investments in Brazilian social housing, the government’s bankruptcy agency said Thursday.
A lawyer for Deutsche Bank told a London court on Thursday that the lender did not bribe the former treasury manager of a housing association to secure interest rate swaps trades that led to €840 million ($940 million) in losses for the property provider.
A property developer has drilled down on allegations that RBS caved to government pressure to run him out of business, saying there was no logical reason for the bank not to refinance his business when it was making a steady revenue stream off of him.
An accountant who made millions of pounds by defrauding celebrities including the pop star Rita Ora has been sentenced to five years and eight months in prison, according to British police and court officials.
Danske Bank has hired a financial crime specialist from Morgan Stanley to take the helm of its anti-money laundering unit, the Danish lender has said, as it deals with multiple investigations into transactions of up to €200 billion ($224 billion) at its Estonian branch.
A British financial services company has been fined and "severely reprimanded" over failings in its audit for homeware retailing chain Laura Ashley PLC, the auditing regulator said Thursday, a day after it imposed a £4 million ($5.2 million) penalty on KPMG.
The U.S. Supreme Court's unanimous ruling on Wednesday in Obduskey v. McCarthy & Holthus LLP removes nearly all activities taken by creditors seeking nonjudicial foreclosure of liens and mortgages from the ambit of the Fair Debt Collection Practices Act, says John Baxter of Nelson Mullins Riley & Scarborough LLP.
The U.K. government will likely adopt the European Union's Fifth Money Laundering Directive even in the event of a no-deal Brexit, meaning U.K. financial services organizations and law firms have under a year to review and possibly update their current policies and procedures, says Joanne Cracknell of Willis Towers Watson PLC.
The EU's revised Payment Services Directive is driving the creation of application programming interfaces that allow fintech companies to securely access and use customer banking data. The same APIs are almost certain to be used in the United States, bringing implications for copyright protection, say attorneys with Morgan Lewis & Bockius LLP.
While sharing some of her predecessor's sentiments, Serious Fraud Office Director Lisa Osofsky has shown decisiveness and independence by closing two of the SFO's largest investigations in her first six months in office, says Ross Dixon of Hickman & Rose Solicitors.
Environmental, social and governance preferences are becoming an increasingly important aspect of the financial industry. New rules proposed by the European Securities and Market Authority would press asset managers in particular to develop investment and advisory processes integrating ESG factors, say attorneys at Jones Day.
Parties should not underestimate the potential for national security concerns to arise in relation to non-U.S. investment in U.S. business, even in areas that may not be facially connected to U.S. security or infrastructure, and even when those involved are not U.S. businesses, say Jennifer Mammen and Daniel Schwartz of Bryan Cave Leighton Paisner LLP.
Brexit negotiations are likely to result in one of three scenarios later this month: a Brexit deal, no Brexit at all or a "hard" no-deal Brexit. Each possibility will have different implications for the prospects of a U.S.-U.K. free trade agreement, says Dean Pinkert of Hughes Hubbard & Reed LLP.
In Canary Wharf v. European Medicines Agency, the U.K. High Court recently ruled that the U.K.'s withdrawal from the European Union will not discharge the EMA's lease obligations. Following Brexit, most similar arguments invoking force majeure or frustration are unlikely to succeed, say Rebecca Dipple and Wayne Hofer of Orrick Herrington & Sutcliffe LLP.
These days, the legal profession offers meager opportunity for oral argument, so we need to focus on being better, brighter, tighter writers. And the key to writing a better brief is grabbing your judge's attention with a persuasive, well-crafted story, says Daniel Karon of Karon LLC.
The Sixth Anti-Money Laundering Directive recently adopted by the Council of the European Union targets the financing of terrorism and organized crime, which have remained significant problems despite the efforts of previous directives, say Ian Hargreaves and Deirdre Lyons Le Croy of Covington & Burling LLP.