The Serious Fraud Office (SFO) has dropped its investigation into allegations of rigging in the foreign exchange (forex) market after it found insufficient evidence to prosecute.
Slater & Gordon UK chief Kinsella retires amid turbulent period for PI group
Australia-listed Slater & Gordon‘s UK chief, Neil Kinsella, has retired and will be succeeded by the firm’s UK head of general law, Siri Siriwardene.
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‘Not unexpected’: SFO asks for extra funds for fourth time in as many years
Prosecutors at the SFO have made another request for cash, seeking an additional £21.1m for ‘blockbuster’ cases, after making a £10m request in June last year. The SFO’s core funding budget for 2015-16 is £33.8m.
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The end of the tunnel – litigation and regulatory challenges in financial services
Legal Business teamed up with Simmons & Simmons to discover how financial institutions are coping with the twin threats of regulation and litigation, and assess whether the end is in sight.
If there was ever any doubt about what might be in store for the Volkswagen Group following its recent emissions scandal, a glance at the banking industry over the last five years offers a sobering clue.
Mixed reviews over impact of first SFO deferred prosecution agreement
Corporate crime specialists are divided over the likely impact of Lord Justice Leveson’s approval of the UK’s Serious Fraud Office’s deferred prosecution agreement (DPA) with ICBC Standard Bank (formerly Standard Bank).
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Toughening up: UK watchdogs clamp down on corporate wrongdoing as fines spike 270%
Regulatory partners expect a busy 2016 as EY figures show UK regulators have ramped up the number of fines and sentencing for corporate wrongdoing.
Finance view: The night of the living wills – bank resolution work offers opportunity for FinReg counsel
Michael West reports on the introduction of bank resolution protocols
Financial regulatory lawyers returned from their holidays this year to a lot of calls on one topic – bank resolution. The implementation this year of the EU’s Bank Recovery and Resolution Directive (BRRD) combined with the Greek crisis has pushed an issue that’s been simmering for years back up the list of priorities for bank and investment firms’ legal teams.
Hard graft – The pan-Europe bribery crackdown
As European agencies turn up the heat on bribery and corruption, we team up with Simmons & Simmons to assess how clients are responding.
Until 1999 German laws allowed for some bribes to be tax deductible. Bribes or grease payments enabled German companies to get ahead overseas, or so many claimed. These payments were viewed as good for business and good for the German economy. At worst, they were a necessary evil.
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Clifford Chance advises Co-Op Bank as it avoids financial watchdog’s ‘substantial fine’
Clifford Chance (CC) has advised the Co-Operative (Co-Op) Bank as the high-street lender avoided a substantial fine following an investigation by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) for breaching listing rules.
SFO wins ‘significant victory’ in landmark Libor case as trader Hayes found guilty
In a fillip for the Serious Fraud Office (SFO), the first person to go on trial after a global investigation into interest rate manipulation scandal, Tom Hayes, has been found guilty at Southwark Crown Court and convicted on eight counts of conspiracy to defraud.