Clifford Chance, DLA and Hogan Lovells win spots on FCA panel

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  • I was just wondering how can one part of one of these firms investigate what will probably be a client of another part of the firm - isn't that a conflict of interest or am i just being old-fashioned?

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  • It is ironic that the law firms the FCA has appointed to investigate banks will actually have those banks as clients, and those banks will probably be more important clients in terms of fees earned than the FCA will be. Thus there will be commercial conflicts of interest. This brings into question the credibility, judgment and sense of the FCA's appointment system. If the FCA wanted to have a credible panel, they'd be better off appointing capable law firms who are routinely adverse to the banks, such as Quinn Emmanuel, Cooke, Young & Keidan, Enyo or Stewarts.

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  • Incredible decision. A magic circle firm will always act in the best interest of its major banking clients (that is where the money is). Poor decision on the part of the FCA.

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  • Not sure what the other commenters would have the FCA do (apart from not seek external advice). You'd have to go a long way down the big firms list before you hit one that doesn't make a significant portion of its revenues from financial institutions of some sort. And when you got there, you'd probably find that firm's financial regulatory group to be lacking.

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