Regulatory and Compliance News
Standard Chartered has appointed ICAP general counsel Duncan Wales as deputy general counsel following a legal and compliance shake-up last month.
The Competition and Markets Authority (CMA) has appointed Deborah Wilkie to the newly created role of director of Civil Cartel Enforcement.
Pinsent Masons has announced that it has acquired the majority stake in cloud-based compliance venture Cerico, which will be led by former McGrigors managing partner Richard Masters.
Taylor Wessing is set to launch an international corporate crime and fraud unit of 40 partners and another 60 lawyers to be a “one stop shop” for regulatory advice.
Former US attorney general Eric Holder is set to re-join former firm Covington & Burling as a partner, after six years as the US government’s top enforcement lawyer.
King & Wood Mallesons (KWM) regulatory partner Gregg Beechey has become the latest lawyer to exit the firm this week, set to join Fried Frank Harris Shriver & Jacobson in London.
Slater & Gordon saw its share price fall 38.3 per cent following the news of investigations being carried out by the Financial Conduct Authority (FCA) and the Australian Securities and Investment Commission (ASIC).
Clifford Chance, DMH Stallard and Freeths have all had complaints lodged against them to the SRA.
Schillings has announced it is hiring 10 new staff, including Hill Dickinson partner Magnus Boyd.
EY Law is to launch a London financial regulatory practice after recruiting a team from Baker & McKenzie and Weil Gotshal & Manges.
Fieldfisher is the sole law firm to have been instructed by the Groceries Code Adjudicator (GCA) on its investigation into Tesco’s profit over-statement.
Berwin Leighton Paisner (BLP) has announced that Nathan Willmott has been appointed as head of the firm’s financial regulatory group.
The Competition and Markets Authority (CMA) has hired Freshfields Bruckhaus Deringer antitrust partner Andrea Gomes da Silva as senior legal director of its markets, mergers and sector regulation group.
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.
Public, police and medical negligence set Serjeants’ Inn Chambers has reported growth in fee income of 27.5 per cent for the 2014/15 financial year ending 31 March on the back of a management overhaul.
Oil and gas company Afren has drafted in both White & Case and Willkie Farr & Gallagher on a review of its expenses practices, which has led the company to report itself to the Serious Fraud Office (SFO) over fraudulent expenses payments.
The Bank of England (BoE) has hired Competitions and Markets Authority (CMA) director of enforcement Sonya Branch to replace Graham Nicholson, who will retire at the end of April.
Lawyers from all walks of the profession and all around the world are gathering in London this week to debate the key trends affecting the industry - including the role of government in preserving access to justice and how the rule of law affects the world of business.
The Serious Fraud Office (SFO) has been ordered to pay £7m in legal costs for Guildhall Chambers’ Stephen Davies QC and four other defendants cleared of fraud last year.
HSBC has instructed Berwin Leighton Paisner (BLP) for legal advice, following the leak of client accounts by whistleblower Hervé Falciani.
Travers Smith was paid £2.2m for its work on an independent inquiry into the Bank of England’s alleged foreign exchange (forex) fixing claims.
The Competition and Markets Authority’s (CMA) Cartels and Criminal Group has launched a recruitment campaign to hire in-house lawyers.
US online legal provider LegalZoom has gained UK regulatory approval having been licensed as an alternative business structure (ABS) by the Solicitors’ Regulation Authority (SRA).
The Financial Conduct Authority (FCA) has promoted lawyer and current head of enforcement Tracey McDermott as part of a structural overhaul after admitting its supervision function was “under strain”.
The Solicitors’ Disciplinary Tribunal (SDT) has kicked off a re-hearing of a case alleging former Addleshaw Goddard partner Mark Gilbert of discrepancies in expenses.
HMRC has doubled down on accountancy and law firms, issuing 1,502 disclosure notices in the last year for information on clients that are subject to criminal tax investigations.
Legacy Pannone financial director Anthony Clare has been fined £208,600 by the Financial Conduct Authority (FCA) following an investigation into mis-selling at insurer Swinton.
Freshfields Bruckhaus Deringer has been retained by Tesco in the wake of the Serious Fraud Office’s (SFO) announcement that it had opened an investigation into accounting practices at the supermarket giant.
The Serious Fraud Office (SFO) has requested an urgent cash injection of £26.5m – 75 per cent above its core budget – in order to pursue its high-profile fraud investigations and pay out compensation to the Tchenguiz brothers.
Eon head of legal Graham Line has stepped down from his role to lead the company’s response to the Competition and Markets Authority’s (CMA) probe into the energy market.
An appeal against the appointment of the judge who heard the trial of the three founders of collapsed law firm Marrache & Co is to be taken to the Privy Council after being thrown out by the Gibraltar Court of Appeal this week.
The newly-formed Competition & Markets Authority (CMA) is looking to hire a director of criminal enforcement as part of three new director roles aimed at beefing up its ability to crack down on cartels.
Accountant will not form standalone law firm, but build legal into its offering
Slaughter and May has advised Wonga on the agreement with the Financial Conduct Authority (FCA) that wrote off £220m of debt from approximately 330,000 customers this week.
Yorkshire firms Gordons and Walker Morris have recruited new department heads from national firms Irwin Mitchell and Pinsent Masons respectively.
Addleshaw Goddard’s head of fraud, regulatory and corporate crime has become the latest partner to exit the firm, resurfacing at King & Wood Mallesons SJ Berwin (KWMSJB).
Tesco has appointed Freshfields Bruckhaus Deringer to scrutinise its first-half profits, which were overstated by £250m.
Fieldfisher senior partner Matthew Lohn has been appointed to the Independent Press Standards Organisation’s (IPSO) new 12-person complaints committee.
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Regulatory and Compliance Opinion
Competition partner Paula Riedel’s departure from Linklaters to Kirkland & Ellis last week generated considerable reader interest.
The growing conflagration over the investigation by world football governing body FIFA into the awarding of hosting rights for the 2018 and 2022 World Cups increasingly looks like a textbook case of how not to conduct an ethics probe.
A ground-breaking challenge brought by online travel company Skyscanner means the Competition & Markets Authority (CMA) must reconsider whether to accept legally binding promises.