Banking and Finance News
Barclays set aside an additional £800m in the first quarter of 2015 to cover investigations and litigation related to foreign exchange rigging, its Q1 results reveal.
Lloyds Bank has closed its litigation teams in Hove and Cockfosters in a continuation of the redundancies to hit its in-house legal team.
Cleary Gottlieb Steen & Hamilton and Slaughter and May have taken the lead roles on Santander Asset Management’s multi-billion euro merger with Pioneer Investments.
Norton Rose Fulbright has made up a record 51 partners in its latest promotions round, the second since its merger in 2013.
Lloyds Banking Group has appointed Kate Cheetham as its new general counsel.
Herbert Smith Freehills (HSF) has hired its first female partner in Germany, K&L Gates banking and finance partner Julia Müller.
Irish firm Byrne Wallace has appointed Central Bank of Ireland general counsel Joseph Gavin as head of its financial services practice.
Lloyds Bank head of disputes Philippa Simmons has left the bank amid a shake-up of the in-house legal team that could see around 25 mid-level redundancies, The Lawyer can reveal.
Allen & Overy (A&O) has advised the Bank of New York (BNY) Mellon on a Financial Conduct Authority (FCA) investigation that yesterday (15 April) saw the bank slapped with a £126m fine for breaching custody rules.
Banking and Finance Briefings
Twitter’s $8bn value crash shows there’s little room for issuer error download subscription
NASDAQ is responsible for running Twitter’s investor relations site, where earnings information was published early.
Relieve the burden on bailiffs; the first in a series of changes The Sheriffs Office would like to see in the regulatory review.
Assigning and enforcing debt download subscription
Debts may be assigned by the creditor to another party, the assignee, who may then proceed with further legal action to recover the debt.
Banking and Finance Analysis
Tax evasion allegations and the uncapping of the Swiss franc have kept the country in the headlines recently, but it’s all good for lawyers.
The pressure on in-house lawyers in the financial services sector is growing as banks face up to new challenges such as greater regulatory scrutiny.
In association with Fox Rodney, Saunderson House and Thomson Reuters
Banking and Finance Opinion
The revelation by Tesco that it had overstated its trading profits by £250m wiped £2bn off its market value in one day.