NEXT
Sign in to follow

International Edition

FSA confirms appointment of new enforcement chief

The Financial Authority (FSA) has appointed senior litigator Tracey McDermott as the permanent replacement for Margaret Cole as director of enforcement and financial crime. Confirmation of the appointment comes after McDermott took on the role on an interim basis this April after Cole left to join accounting giant PricewaterhouseCoopers as UK general counsel.
2 minute read

International Edition

Damned if you do – the Bar Standards Board's unwelcome place in the spotlight

Bar regulator gets full chattering class treatment on Today as criticism of BSB mounts. Suzanna Ring reports
6 minute read

International Edition

SFO confirms criminal powers to tackle Libor manipulation offences

Bankers involved in the Libor-rigging scandal could face jail terms after the Serious Fraud Office (SFO) confirmed that existing legislation will suffice to bring criminal actions against banks and individuals. In a statement, the SFO said: "The Director of the Serious Fraud Office, David Green QC, is satisfied that existing criminal offences are capable of covering conduct in relation to the alleged manipulation of Libor and related interest rates. The investigation, announced on 6 July, involves a number of financial institutions."
3 minute read

International Edition

Freshfields, MoFo join Libor line-up with key banking inquiry roles

Freshfields Bruckhaus Deringer and Morrison & Foerster (MoFo) have become the latest law firms to pick up advisory roles related to the Libor scandal, with Freshfields acting for the Bank of England (BoE) and MoFo taking the lead for former Barclays COO Jerry del Missier. Freshfields dispute resolution partner Ian Taylor is leading the team acting for the magic circle firm's institutional client, which this week saw its governor Sir Mervyn King appear before the Treasury Select Committee to face questions over the rate-fixing scandal.
2 minute read

International Edition

Clifford Chance gains approval to open in South Korea

Clifford Chance (CC) has become the first UK firm to gain approval to open an office in South Korea. The magic circle firm's application to open in Seoul was approved by the Korean Ministry of Justice today (16 July), with the firm's licence to practise still pending approval from the Korean Bar Association.
2 minute read

International Edition

That escalating Libor scandal – a great big wind, but not an ill one for lawyers

"Law firms are having a field day on Libor," comments a London litigation head at a US law firm, summing up the private mood in the week following Barclays' admission to manipulating global interest rates. Even for banking advisers grown used to continually expanding levels of contentious and regulatory work from institutional clients, the furore in the wake of the bank's announcement that it had agreed a $450m (£290m) settlement looks to kick things up to a whole new level, legally speaking
6 minute read

International Edition

Covington leads as GlaxoSmithKline receives record $3bn fine

US firm Covington & Burling has taken the lead role for pharma giant GlaxoSmithKline (GSK) on its record $3bn (£1.9bn) criminal and civil settlement over drug misbranding, reports The Blog of Legal Times. The settlement saw GSK agree to plead guilty to criminal charges and to pay $1bn (£638m) in criminal fines and forfeitures for the illegal marketing and promotion of the drugs Paxil and Wellbutrin.
2 minute read

International Edition

SFO weighs up criminal prosecutions for Libor interest rate rigging

The Serious Fraud Office (SFO) is considering bringing criminal prosecutions against bankers involved in the Libor interest rate rigging scandal, it emerged today (2 July). Chancellor George Osborne announced last week that the Financial Services Authority (FSA) was not able to impose criminal sanctions for the manipulation of Libor - the benchmark interest rates used in financial markets around the world - due to the limited scope of its criminal powers.
2 minute read

International Edition

A&O secures partner buy-in to continue worldwide push

Allen & Overy (A&O) is set to push ahead with its expansive international strategy after partners gave broad backing to management at the magic circle firm's conference last month.
2 minute read

International Edition

Brazilian Bar debates implementing tougher rules for foreign law firms

International law firms could face tougher restrictions in Brazil as the Brazilian Federal Bar Association, Ordem dos Advogados do Brasil (OAB), considers drawing up new rules governing alliances between local and international law firms.
3 minute read

More from ALM

More from ALM

Legal Speak is a weekly podcast that makes sense of what’s happening in the legal industry.

Resources

  • Why Embracing Change Is Essential for Your Legal Department

    Brought to you by DiliTrust

    Download Now

  • International Export and Trade Assistance State Law Survey

    Brought to you by LexisNexis®

    Download Now

  • How This Personal Injury Firm Reduced Client Intake Time by 80%

    Brought to you by PracticePanther

    Download Now

  • The Hidden Cost of Bad Reviews: Why Law Firms & Attorneys Can't Afford a Damaged Online Reputation

    Brought to you by Erase.com

    Download Now