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By Stella Gartagani, Nicola Boyle, Lesley Hannah
Jurisdiction is of particular importance in follow-on damages claims and, in particular, the realisation of a practical right to compensation in line with the aims of the Damages Directive.
By Nicola Boyle, Ingrid Gubbay
("CRA") has now received Royal Assent, marking an important move to enhance the powers of the Competition Appeal Tribunal ("CAT").
By Anthony Maton, Laurent Geelhand
The Foreign Exchange ("FX") market is the largest financial market in the world, with a daily average turnover of $5.3tn, 40% of which is transacted in London.
By Anthony Maton
On 9 November 2010, the European Commission issued a decision fining 11 major airlines almost €800 million for operating a global cartel that affected air cargo services within the European Economic Area between December 1999 and February 2006.
By Anthony Maton, Reena A. Gambhir
Regulators fined Bank of America, Citibank, HSBC, JPMorgan Chase, The Royal Bank of Scotland and UBS $4.3 billion (£2.8 billion) for their conduct on FX markets between January 2008 and October 2013.
By Anthony Maton, Laurent Geelhand
On 10 November 2014, the EU Council of Ministers adopted the Directive on antitrust damages actions, which will have to be implemented into national regimes by November 2016.
By Anthony Maton, Laurent Geelhand
In January 2015 the European Commission announced its intention to appeal a judgment of the Belgian Commercial Court which dismissed the Commission's claim for €6 million of damages against Otis, KONE, Schindler and ThyssenKrupp.
By Anthony Maton, Laurent Geelhand
Regulators imposed total fines of $3.3 billion (£2 billion) on Citibank, HSBC, JPMorgan Chase, The Royal Bank of Scotland and UBS for their conduct on FX markets between January 2008 and October 2013
By Sascha Hindmarch, Aimee Brookes, Gurpreet Chhokar
Financial services cases, including those concerning mis-selling, remain in focus – Crestsign Limited v Natwest & RBS [2014] EWHC 3043 (Ch) ("Crestsign") being the most recent example.
By Sascha Hindmarch
The Court of Appeal’s decision at the end of last year in Graiseley Properties Ltd v Barclays Bank plc [2013] (appeal decision) confirmed that the door is open for claimants to plead implied representations against financial institutions in relation to the manipulation of London interbank offered rates (Libor) and/or Euro interbank offered rates (Euribor).
By Sascha Hindmarch, Aimee Brookes
The Department for Business, Innovation and Skills commenced a consultation process last year, culminating recently in 2014 with proposals for legislative change.
By Sascha Hindmarch, Aimee Brookes
Alastair Brett v Solicitors Regulation Authority; a recent reminder to in‐house lawyers of their dual duties to client and Court – a cautionary tale all in‐house lawyers should have across their radars.
By Anthony Maton, Sascha Hindmarch, David Lawne
More recent developments in the English courts have confirmed that companies who were adversely affected by LIBOR and EURIBOR manipulation may be entitled to bring claims to recover their losses.
By Sascha Hindmarch, Gurpreet Chhokar
Off the back of its new competition remit the Financial Conduct Authority in July 2014 launched a review of competition in the wholesale financial services sector.
By Boris Bronfentrinker, Lesley Hannah
On 17 April 2014, a major step was taken in facilitating the pursuit of cartel damages claims across Europe.