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International Edition

Will the FSA step up regulation as Sants steps down?

On 9 February 2010, the Financial Services Authority (FSA) announced that Hector Sants, the FSA's CEO, will stand down in the summer. He will have held the role for three years in July, leading the FSA through a time of extraordinary challenges for financial institutions and their regulators alike. As yet, Sants' successor has not been selected, but financial institutions, their advisers and commentators are wondering what impact a change of leader might have on the FSA's policies and approach to regulation.
4 minute read

International Edition

Herbert Smith adds partner to financial regulatory team with Lloyds hire

Herbert Smith has bolstered its financial regulatory practice with the hire of Lloyds Banking Group's head of group regulatory. Jenny Stainsby is set to join the top 10 City firm as a partner in the financial services regulatory (FSR) and bank litigation teams in May. She will work closely with the firm's FSR head Martin Hopper and disputes head Sonya Leydecker.
2 minute read

International Edition

SFO recruits former Morgan Lewis City chief

The former London managing partner of Morgan Lewis, Bob Goldspink, has been appointed as a non-executive director of the Serious Fraud Office (SFO). The high-profile litigator retired from Morgan Lewis at the end of September after 12 years at the US firm. He had been managing partner of the firm's City office since 2004.
2 minute read

International Edition

Bingham to launch London antitrust practice with McDermott partner hire

Bingham McCutchen is set to launch a London antitrust practice with the hire of a McDermott Will & Emery partner in the City. Davina Garrod, who heads up McDermott's London hedge fund practice, will join Bingham in the next two months as the first European-based partner in the firm's antitrust and trade regulation practice group.
2 minute read

International Edition

Mishcons set for New York litigation launch with hire of 15-strong team

Mishcon de Reya has launched in New York with the hire of a team of lawyers from US firm Sheppard Mullin Richter & Hampton. The surprise move will see a 15-strong team of lawyers and support staff set up shop in the highly competitive New York litigation market, headed up by white collar litigator Jim McGuire.
2 minute read

International Edition

Tax evasion in spotlight in post-crunch crackdown

With all the talk of the bank bonus tax, global financial institutions' reassessment of their commitment to London and UK politicians other than Boris Johnson queuing up to bash the City, you might question what place London will have in the financial new world order in 2010. But before you pack your skis and head to Switzerland, the changes since the London G20 Summit and the unstoppable move towards global transparency should make you think again.
3 minute read

International Edition

SJ Berwin associate lands new role as director of mergers at OFT

The Office of Fair Trading (OFT) has recruited SJ Berwin lawyer Sheldon Mills as its new director of mergers. Mills, who will take up his new role on 15 February, joined SJ Berwin's EU and competition practice in January 2007 from the London office of US firm Jones Day.
2 minute read

International Edition

Lovells wins role alongside 39 Essex Street on new LSB panel

The Legal Services Board (LSB) has appointed Lovells and 39 Essex Street as its main advisors after a tender process. Lovells public law partner Paul Dacam will handle the relationship for the top 10 UK firm. A raft of individuals will also act as specialist advisers to the legal services body, including 1 Crown Office Row's Philip Havers QC, LG business and finance partner Helga Breen, 1 Temple Gardens' Louise Jones, Joanna Tall of legal consultancy Trading Terms and Stephanie Grundy, a freelance expert in drafting statutory instruments.
2 minute read

International Edition

Mayer Brown and Latham lead on $8.5m Ernst & Young settlement

Mayer Brown and Wilmer Cutler Pickering Hale and Dorr have taken roles advising Ernst & Young (E&Y) in settlement talks with regulators over the accounting firm's failure to report fraudulent activity at one of its clients, reports The Am Law Daily. The Securities and Exchange Commission (SEC) had accused E&Y of issuing unqualified audit opinions that said that Chicago-based company Bally Total Fitness's 2001 and 2003 financial statements conformed with US accounting rules.
2 minute read

International Edition

Sidley makes up one new City partner in 15-strong promotions round

Sidley Austin has handed 15 lawyers partnership in its annual promotion round, with one partner made up in the top 10 US law firm's City arm. Commercial litigator Steven Pitt is the only partner Sidley has promoted outside of the US, becoming the 41st partner in its UK office. The firm's UK practice was also recently expanded by the arrival of securities partner Bart Capeci from Allen & Overy.
2 minute read

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