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International Edition

RBS defends CC review appointment after conflict claims

The Royal Bank of Scotland has defended claims that its instruction of Clifford Chance to lead an independent review into the bank's lending activities amounts to a conflict of interest.
2 minute read

International Edition

Elite firms line up on $11bn stock exchange M&A deal

A clutch of firms including Shearman & Sterling, Sullivan & Cromwell, Slaughter and May and Wachtell Lipton Rosen & Katz have advised on IntercontinentalExchange's $11bn (£7bn) acquisition of NYSE Euronext.
2 minute read

International Edition

HMRC appoints new GC as Inglese retires

Gill Aitken has been appointed as HM Revenue and Customs' (HMRC's) General Counsel, succeeding Anthony Inglese. Inglese is retiring at the end of January after nearly six years as GC and over 38 years in the Government Legal Service. Aitken will take up the role from 1 February 2014.
2 minute read

International Edition

Hong Kong's review of third-party funding rules sparks debate among lawyers over their use

Hong Kong's decision to review the laws around third-party funding for arbitration has re-ignited debate among the city's lawyers. The Law Reform Commission (LRC) has established a committee to look into legislation governing arbitration funding and make recommendations if necessary.
3 minute read

International Edition

Grappling with governance – how in-house lawyers are dealing with an expanding risk management remit

Ahead of this month's Corporate Governance and Risk Forum 2013, Alex Newman hears from some of the in-house lawyers faced with managing an ever-expanding portfolio of risk management and reputation safeguarding...
6 minute read

International Edition

Deutsche Bank profits fall after £1bn legal costs provision

Deutsche Bank set aside an additional €1.2bn (£1bn) in legal provisions to combat potential litigation over the wave of scandals that have hit the banking sector in recent months. The provision, which meant Deutsche's legal war chest is now €4.1bn (£3.5bn), severely hit the bank's third quarter pre-tax profit, which plummeted 98% to €18m (£15.4m), down from €747m (£640m) in Q3 2012.
2 minute read

International Edition

The burning issue – examining the implications of the European Unified Patent System

With the European Unified Patent System only six months away, Legal Week Intelligence analyses the findings of its latest study into the new system's implications
1 minute read

International Edition

The next big thing – regulation's booming popularity in legal business

September 2007. A month Ian McDonald remembers well. "My banking and finance colleague Kevin Hawken came to see me and said: 'What do you know about SIVs [structured investment vehicles]?'" recalls McDonald, London head of commercial dispute resolution at Mayer Brown. "I thought it was a kitchen gadget. I really had no idea – but that is part of the challenge as litigators." His ignorance was short-lived. Mayer Brown's litigators were among the first called upon to help restructure SIVs – complex financial products once worth an estimated $400bn (£247.3bn) – when the 2007 credit crunch halted the short-term funding that underpinned them. For McDonald and his colleagues, it marked the start of busy few years.
19 minute read

International Edition

Barclays compliance chief Sants takes stress-related leave

Barclays head of compliance Sir Hector Sants has taken leave until the end of the year, citing "stress and exhaustion". Sants, the former chief executive of the legacy Financial Services Authority (FSA), was appointed to the newly-created role of head of compliance and government and regulatory relations role in January this year.
2 minute read

International Edition

Between a rock and a hard place – Gibraltar fights back over UK gaming restrictions

While longstanding tensions between Britain and Spain over Gibraltar have reached breaking point in recent weeks, another stand-off is developing between the UK Government and the territory's economically vital betting and gaming industry. In a move described by Peter Howitt, founder of law firm Ramparts and chief executive of the Gibraltar Betting and Gaming Association (GBGA), as an "attack" on the territory, the UK is pushing through new rules and penalties to target offshore gambling operators with large numbers of British customers.
10 minute read

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