A court ruling on Wednesday, which upended the first round of European Union sanctions imposed on two Russian tycoons, contrasts with the approach taken by the English courts, where legal challenges to the restrictive measures have been repeatedly rebuffed.
Law360 UK
Financial Services
FRIDAY, APRIL 12, 2024 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

iStock-1366902490.jpg

Analysis

Sanctions Targets Eye EU-UK Split As Appeals Stack Up

By Christopher Crosby

A court ruling on Wednesday, which upended the first round of European Union sanctions imposed on two Russian tycoons, contrasts with the approach taken by the English courts, where legal challenges to the restrictive measures have been repeatedly rebuffed.

Read full article » | Save to favorites »

Autonomy Became Less Transparent Before Sale, Jury Told

By Bonnie Eslinger

An ex-market analyst testifying Thursday in a California criminal trial over claims that former Autonomy CEO Michael Lynch duped HP into buying the British company for $11.7 billion told jurors that the company became less forthcoming about some of its accounting a couple of years before the sale.

Read full article » | Save to favorites »

Ex-Sidley Partner Says CPS Did Not Disclose Prosecution Info

By Ronan Barnard

A former Sidley Austin LLP partner, a former senior KPMG LLP official and a banking adviser have hit back at the Crown Prosecution Service in the men's £66 million ($82.8 million) claim over a failed tax fraud prosecution, arguing that their prosecutor hid important information from them.

Read full article » | Save to favorites »

Pension Schemes Moving Toward Net Zero, Watchdog Says

By Sam Tabahriti

Britain's pensions watchdog said in a review published Thursday that retirement savings schemes have moved closer to achieving net-zero emissions standards in their portfolios by updating investment strategies and boosting allocations to low-carbon funds.

Read full article » | Save to favorites »

LITIGATION

BlackRock Can't Deduct Interest On $4B, London Court Finds

By David Hansen

Financial services firm BlackRock cannot deduct interest on $4 billion in loans it used for the 2009 purchase of Barclays Global Investors because avoiding taxes was the main reason for the way it structured the transaction, a London appeals court ruled Thursday.

Read full article » | Save to favorites »

POLICY & REGULATION

FCA Finds Failings By Administrator Of Woodford Funds

By Najiyya Budaly

The Financial Conduct Authority said Thursday it has found that Link Fund Solutions failed to act with "due skill, care and diligence" when it was the authorized manager of the failed £3.7 billion ($4.6 billion) flagship fund managed by Neil Woodford.

Read full article » | Save to favorites »

DEALS

SocGen To Sell Equipment Finance Unit To Rival For €1.1B

By Tom Fish

French banking giant Societe Generale SA said Thursday that it has agreed to sell its professional equipment financing business to rival BPCE for €1.1 billion ($1.2 billion) to streamline the business and bolster its equity capital.

Read full article » | Save to favorites »

Squire Patton Advises Broadstone Buy Of Credit Risk Co.

By Joel Poultney

Broadstone said on Thursday it had acquired credit risk company Vestigo Partners Ltd., in a deal steered by Squire Patton Boggs and Harrison Clark Rickerbys.

Read full article » | Save to favorites »

Squire Patton Steers £130M Mitsubishi Pension Deal

By Joel Poultney

Insurer Just Group said Thursday it has signed off on a £130 million ($163 million) buy-in transaction for a scheme sponsored by Mitsubishi Chemical UK Ltd. in a deal guided by Squire Patton Boggs LLP.

Read full article » | Save to favorites »

EXPERT ANALYSIS

Opinion

FCA Greenwashing Rules Need To Be Stronger To Be Effective

The Financial Conduct Authority's forthcoming anti-greenwashing measures, aimed at ensuring the veracity of regulated entities’ statements about sustainability credentials, need external scrutiny and an effective definition of "corporate social responsibility" to give them bite, says Jingchen Zhao at Nottingham Trent University.

Read full article » | Save to favorites »

Promo that reads 2023 Practice Groups of the Year Promo that reads 2023 Law Firm Culture Survey

LAW FIRMS IN TODAY'S NEWS

2 Hare Court

4 New Square

4 Stone Buildings

Bird Marella

Clifford Chance

Corker Binning

Sidley Austin

Simmons & Simmons

Squire Patton

Steptoe LLP

COMPANIES IN TODAY'S NEWS

BlackRock Inc.

Deloitte Touche Tohmatsu Ltd.

Energizer Holdings Inc.

Euronext Amsterdam NV

Getty Images Inc.

Iron Mountain Inc.

KPMG International

Mitsubishi Chemical Holdings

Nottingham Trent University

Societe Generale

GOVERNMENT AGENCIES IN TODAY'S NEWS

European Union

Financial Conduct Authority

HM Revenue & Customs

Office of Financial Sanctions Implementation

The Crown Prosecution Service

U.K. Foreign & Commonwealth Office

U.S. Attorney's Office for the Northern District of California

U.S. Department of Justice

U.S. District Court for the Northern District of California