A senior lawmaker has told the government it must push lenders to ensure they offer new home loans to “mortgage prisoners,” home-owners trapped in high-interest mortgage deals because their lender is either not authorized by regulators or no longer active.
Influential lawmakers have swung behind proposals by the U.K. government to prevent corporations from using non-disclosure agreements and confidentiality clauses in their employment contracts to discourage staff from reporting harassment to the police.
A judge’s unexpected decision to acquit a former Barclays foreign currency options trader and say prosecutors had “completely overreached” in the case dealt a blow to the U.S. Department of Justice’s Fraud Section and may have a ripple effect.
A U.S. pension fund filed a putative class action against Bank of America and the Royal Bank of Scotland on Monday for allegedly conspiring to rig the prices of sovereign debt issued by European central banks between 2007 and 2012, in light of tentative accusations made by the European Commission in January.
A former Barclays executive on trial for fraud was concerned about advisory service agreements the bank used to pay Qatari investors additional fees in its efforts to raise billions of pounds during the financial crisis, a London jury heard Tuesday.
More than two-thirds of financial organizations surveyed in a poll released Tuesday reported an increase in cyberattacks within the past year, while reports of the most damaging type of attack — aimed purely at destroying records — spiked by 160 percent.
A Nigerian oil company run by the country's former energy minister has hit back at a U.K. lawsuit seeking roughly $6.1 million that Access Bank PLC said is due under an import finance loan, citing a criminal fraud probe of the lender.
A dispute between Qatar National Bank and Force India Ltd. over the potential forced sale of the Indian company's yacht will head to trial in London later this year, according to a court order that also allows the company to amend its defense amid accusations from the bank that the initial filing was "unparticularized and unclear."
An art dealer who fled to Spain after facing legal action in the U.S. and U.K. for allegedly selling works used as loan collateral was ordered by a London judge on Tuesday to submit to cross-examination about his assets — or face possible prison time.
The U.K. branch of Indian lender ICICI Bank urged a London judge on Tuesday to grant it summary judgment in its claim against an Indian oil company over the outstanding balance of a $66 million loan, saying the defense doesn’t hold up to scrutiny.
The European Union's insurance watchdog has reached tentative agreements with the U.K.'s financial regulators to preserve the supervision of the insurance industry if Britain crashes out of the EU later this month, the agencies said on Tuesday.
European Union governments and the bloc’s lawmakers are squabbling over the best way to protect whistleblowers, with member states seeking to delay informants before they go public, EU officials told Law360 on Tuesday.
The European Central Bank and the Bank of England said Tuesday they are ready to swap an unlimited number of euros for sterling to help steady U.K. lenders, bolstering their preparations for Britain's withdrawal from the European Union amid concerns it could rattle markets.
The London Stock Exchange has opened the door for companies that want to list insurance-linked securities as the U.K. moves toward breaking into the multibillion-dollar trade, an executive at the market has told Law360.
The Financial Conduct Authority said Tuesday it will ban "rent-to-own" financing companies from charging high interest rates to buyers that mean they pay as much as four times the retail price for household goods, as the regulator seeks to save consumers up to £22.7 million ($30 million) a year.
Nasdaq Inc. on Monday increased its offer to buy Norwegian stock exchange Oslo Bors VPS, matching a competing bid from Euronext NV worth 6.8 billion Norwegian krone ($795 million) as the trading venues look to sway shareholders to their respective sides.
A former Barclays PLC executive felt nervous about emailing a draft version of a side deal the bank struck with Qatar because it looked like the Gulf state was being paid additional fees to bail out the British lender in 2008, a London jury heard Monday.
Three former Barclays PLC traders on trial for allegedly rigging a key European interest rate benchmark used the bank’s “privileged position” to make money for its swaps traders, the Serious Fraud Office told a London jury during closing arguments Monday.
Baker McKenzie announced on Monday that it has added two lawyers to its banking and finance team, expanding its regulatory and investigation offerings in London.
A federal judge in San Francisco ruled on Monday to acquit a former trader at Barclays PLC of manipulating the price of foreign currency options to defraud the bank's customer Hewlett-Packard Co., saying that no reasonable jury could convict based on the evidence prosecutors offered at trial.
Tesco Bank and British Airways are the latest British icons to find themselves in legal difficulties regarding data breaches, exemplifying the breadth of breach-related risks beyond the established route of the Information Commissioner's Office, says Kim Roberts of King & Spalding LLP.
Disputes between foreign investors from the technology, media and telecommunications sector and host states are a substantial feature of the investor-state claims landscape. The recent growth of investor-state arbitrations in this sector could be explained by several factors, says Florencia Villaggi of Herbert Smith Freehills LLP.
Earlier this year, many businesses were so focused on ensuring that their privacy notices and customer lists were compliant by May 25 that they forgot that General Data Protection Regulation D-Day was just the first day of a new regime, rather than a one-day event, say Ben Pilbrow and Joanna Boag-Thomson of Shepherd and Wedderburn LLP.
Newly proposed U.K. rules and the amended regime for the Committee on Foreign Investment in the United States will radically change how the two governments review sensitive transactions, which will affect the likelihood of deal clearance, deal timing and the drafting of appropriate contractual provisions, say Robert Bell and Jennifer Mammen of Bryan Cave Leighton Paisner LLP.
Courts in the British Virgin Islands have mostly resisted the temptation to appoint liquidators in soft wind-downs. However, a recent decision in Delco Participation v. Green Elite has opened the door to more "just and equitable" liquidation petitions, say Andrew Willins and Eliot Simpson of Appleby.
Several European countries have recently incorporated the "right to disconnect" from work into their domestic legislation. Currently, there is no equivalent law in the U.K., but as stress levels continue to rise, it is likely that U.K. legislators will follow suit, says Sarah King of Excello Law.
Two court decisions within the past year have simplified the process for bringing derivative claims outside the Cayman Islands on behalf of Cayman companies, as shareholders no longer need permission from a Cayman court. However, such claims still face two difficulties, say Peter McMaster and Anna Snead of Appleby.
In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Melanie Green, chief client development officer at Faegre Baker Daniels LLP.
The English Court of Appeal's much-anticipated decision in Eurasian Natural Resources Corporation means that companies will continue to face difficulties in obtaining the information they need to investigate suspected wrongdoing, without losing the benefit of legal advice privilege under English law, say Mark Beeley and Rebecca Dipple of Orrick Herrington & Sutcliffe LLP.
The recently issued National Security and Investment White Paper proposes a significant expansion in the U.K. government's powers to scrutinize foreign investments. If the proposals are brought into force, the U.K. regime will be one of the most stringent in the world, say Douglas Lahnborg and Matthew Rose of Orrick Herrington & Sutcliffe LLP.