The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
The Financial Services Authority and Markets Tribunal has slashed the £1.1m penalty imposed on Legal & General (L&G) by the Financial Services Authority (FSA).
The Tribunal yesterday, 26 May 2005, reduced the fine imposed on L&G to £575,000 by the FSA in the high-profile case involving the mis-selling of mortgage endowments. However, the Tribunal made no order for costs forcing L&G to foot the £2m legal bill payable to the company’s legal adviser Freshfields Bruckhaus Deringer.
In January the Tribunal cleared L&G of widespread mis-spelling of endowments, providing that only eight out of 152 were mis-sold. In that judgment the Tribunal criticised some of the FSA's past disciplinary processes and the lack of independence of the RDC. The FSA has subsequently established a top-level Review of its enforcement and disciplinary process, which we welcome.
Commenting on the Tribunal’s decisions an L&G spokesperson said: "The review set up by the FSA is a serious and thorough attempt at establishing a fair process of adjudication and judgement. This is fundamental to the operation of regulation in our sector. We fully support a firm regulatory environment operating in a fair and even-handed manner."
"L&G is a UK centric company, therefore our investment in this case, was one which we felt compelled to make. We have a very good relationship with the FSA, and we now wish to put this matter behind us, so now its back to business as usual," added the spokesperson.