Banking and Finance News
The UK Government has won a landmark victory at the European General Court in a battle with Cleary Gottlieb Steen & Hamilton client, the European Central Bank (ECB), over the location of central clearing houses for euro-denominated trades.
Enyo Law has taken over from Quinn Emanuel Urquhart & Sullivan as advisers to businesses and individuals planning to sue the Royal Bank of Scotland’s global restructuring group (RBS-GRG) for allegedly forcing small companies out of business.
Latham & Watkins has elected two London-based counsels to its partnership, amounting to just under a quarter of its global total for 2015.
Barclays has announced the appointment of Gibson Dunn & Crutcher partner Mark Shelton as global general counsel for its investment banking division and regional general counsel for the Americas.
Hogan Lovells and Erskine Chambers have secured a Court of Appeal (CoA) judgment requiring Russian tycoon Sergei Pugachev to disclose information about discretionary trusts established in New Zealand, setting a precedent in cases involving freezing orders.
Collective turnover at UK firms increased by 8.4 per cent to a record £30.6bn last year - accounting for 7 per cent of the $650bn (£419.6bn) global legal services fee revenue in 2013/14.
Linklaters and Herbert Smith Freehills are among the firms to win a spot advising on the initial public offering of challenger bank Aldermore.
McCann FitzGerald has been appointed as the adviser to Allied Irish Banks (AIB) on its proposed capital restructuring by the Irish government.
US firm Proskauer has started 2015 with a statement of intent, hiring former SJ Berwin corporate chief Steve Davis to head its team in the City.
Banking and Finance Briefings
Stricter supervision for Serbian banks download subscription
By the end of March banks are required to comply their general terms of business and individual agreements with customers with the amendments of the Financial Services Consumer Protection Act, as well as to begin implementing the new Law on Payment Services.
Beware: Israeli authorities are on the prowl for unsuspecting sanctions evaders download subscription
Amendments to Israeli sanctions legislation, the new Sanctions Bureau and increasingly resolute policies towards Iran and other countries all warrant enhanced compliance efforts.
India tightens restrictions on foreign portfolio investment in corporate debt download subscription
The Reserve Bank of India’s bi-monthly policy statement took a cautious approach to foreign portfolio investment in corporate debt by imposing additional conditions on this investment avenue.
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.
Have the magic circle firms squandered their lead in acquisition finance?