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International Edition

Barclays recruits former FSA chief Sants for new compliance head role

Barclays has appointed Hector Sants, the former chief executive of the Financial Services Authority (FSA), to the newly created role of head of compliance and government and regulatory relations. Sants, who will join Barclays on 21 January next year, will oversee all compliance activities in all regions the bank does business.
2 minute read

International Edition

Freshfields, Sullivan, Cahill Gordon advise on record $1.9bn HSBC fine

Freshfields Bruckhaus Deringer has advised HSBC on its record $1.9bn (£1.2bn) fine in a settlement with the US Department of Justice for breaching US money laundering and sanctions laws. The magic circle firm advised the bank on the UK law aspects of the settlement with a team led by global financial services head Michael Raffan and London corporate finance head Barry O'Brien.
2 minute read

International Edition

Debevoise takes Rolls-Royce role on SFO bribery and corruption probe

Debevoise & Plimpton is advising Rolls-Royce on a probe by the Serious Fraud Office (SFO) into bribery and corruption allegations involving intermediaries in overseas markets. Last week the company confirmed it had passed on information to the SFO regarding alleged malpractice in Indonesia, China and other countries.
2 minute read

International Edition

Linklaters calls time on cooperation agreement with Brazil ally Lefosse

Linklaters has ended its Brazil cooperation agreement with Lefosse Advogados as a number of law firms rethink their local operations amid faltering hopes for market liberalisation. The firm called time on the agreement in October after the Brazilian Bar unanimously voted to uphold the rules for foreign firms in Brazil, which allow firms to offer international legal advice but stipulate strict demarcation between foreign and local practices.
2 minute read

International Edition

HK regulatory chief cautions Asia over threat of Western-style crisis

Asia must join the EU and US in their post-crunch regulatory efforts if the region is to avert its own financial crisis, according to the head of Hong Kong's top market watchdog. Speaking at the third Pan-Asian Regulatory Summit in Hong Kong last week, Ashley Alder, the chief executive of the Securities and Futures Commission (SFC) and former Herbert Smith Asia head, said regional institutions would be "unbelievably stupid" to ignore the lessons learned by Western economies, and had a "golden opportunity" to ensure Asia did not experience its own financial collapse.
4 minute read

International Edition

Waking up to reform – handling the revolution in global financial regulation

As counsel to many of the world's largest financial institutions, Cleary Gottlieb Steen & Hamilton has recognised from the start that regulatory reform must be viewed through a global lens. While Dodd-Frank and other US legislative measures are key to the process, they are only a part of the picture. The European Union is still addressing some of the issues identified at the 2009 G20 summit. While the G20 is committed to global financial regulatory reform generally, harmonisation ultimately relies on moral suasion and will inevitably be uneven.
5 minute read

International Edition

GCs call for influence training to improve career prospects

The vast majority of general counsel are keen to receive training on influence to boost their career prospects, according to a major new research project by Nabarro. The firm's third annual general counsel report – which surveyed 100 GCs from FTSE-listed and large private companies – this year focused on the subject of influence.
3 minute read

International Edition

Handling risk in the global corporate market - Legal Week Benchmarker in association with Deloitte

Risk is now an important issue for every company, but who deals with it? The Deloitte benchmarker survey analyses current corporate systems. Caroline Hill delves into the detail...
1 minute read

International Edition

Multi-polar world risky yet satisfying for GCs, but are law firms being written out of the equation?

As the headlines attest seemingly every day, it's a riskier world out there for multinationals. Yet, judging by a major report on the attitudes of general counsel (GC) at some of the world's largest companies, senior in-house lawyers have learned to like it that way. The oxymoronic observation emerges in the report 'Issues & Priorities for Senior In-House Counsel Worldwide', which is released this month...
6 minute read

International Edition

Guiding light – why boards need to bring GCs into strategy

In a telling observation one corporate counsel commented at Legal Week's recent Corporate Governance and Risk Forum: "Someone has to step up and take the lead in ensuring that your company has a strong corporate culture."
9 minute read

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