Region: United Kingdom

Cum-ex and other forms of dividend arbitrage – implications for financial institutions in the UK

RPC partners Adam Craggs and Michelle Sloane, and associate Alice Kemp, consider the recent convictions in the first criminal trial related to Cum-ex trades, and the ongoing impact for financial institutions in the UK.

29 June 2020

FCA to get new powers for Libor "tough legacy" contracts

The UK is set to pass new legislation granting its Financial Conduct Authority new powers to manage the transition away from the Libor benchmark – including specific rules for handling ‘tough legacy’ contracts.

24 June 2020

New FCA chief executive named

London Stock Exchange chief executive Nikhil Rathi has been tapped to lead the UK’s Financial Conduct Authority.

22 June 2020

FCA punishes Commerzbank over AML failures

The UK’s Financial Conduct Authority has fined the London arm of German lender Commerzbank £37.8 million for failing to establish robust anti-money laundering controls.

18 June 2020

Community round-up: FRC’s former chair joins Carlyle; Shearman hires from Cadwalader in New York

15 June 2020

NatWest dodges Libor fixing suit after claim misses six-year deadline

NatWest has avoided an £8 million Libor-related consequential loss claim after an English judge ruled it had overshot its limitation period by a fortnight.

29 May 2020

Community round-up: New York DFS hires from UBS, BlackRock from PRA

New York’s Department for Financial Services has hired a new general counsel from UBS Americas, while a board member of the UK’s Prudential Regulation Authority has departed for asset management firm BlackRock.

01 May 2020

FCA investigating cum-ex trades

The UK Financial Conduct Authority is investigating 14 financial institutions in connection with an alleged tax fraud that is estimated to have cost European countries over €50 billion.

01 May 2020

Linklaters and ING hire in London

Linklaters has hired a London partner from JP Morgan, while Dutch bank ING has named a new head of compliance for the UK and Middle East.

27 April 2020

HSBC shareholders resist dividend suspensions

A group of Hong Kong shareholders is mulling legal action against HSBC for acquiescing to the Bank of England's request that it forgo shareholder dividends.

07 April 2020

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