2021 Global Bank Review – ESG: Creating a Purposeful Future

    We are excited to launch the 2021 edition of our Global Bank Review, ESG: Creating a Purposeful Future. Have banks, like much of the corporate world, suddenly got religion on all things environmental, social and governance (ESG)? Many regulators and policymakers are already converts to the ESG cause. ESG poses challenges to banks, in many forms … Read more

    Lloyd v Google: Supreme Court finds claim for compensation under data protection legislation cannot proceed on “opt-out” basis

    In its judgment this morning the Supreme Court has overturned the Court of Appeal’s decision in the high profile Lloyd v Google case, which would have opened the floodgates for class actions for compensation for loss of control of personal data to be brought on behalf of very large numbers of individuals without identifying class members: Lloyd v … Read more

    LIBOR transition risks – November 2021 update

    With three months to go before the end of LIBOR as we know it (save for certain USD tenors), regulators around the globe continue to emphasise the importance of active transition away from the benchmark. In the UK, the FCA is simultaneously affirming this message while clarifying the scope of the UK legislative solution for … Read more

    High Court upholds contractual terms setting out basis of relationship in dismissing breach of duty claim relating to introduction to third party investment schemes

    The High Court has upheld certain contractual terms which set out the basis of the parties’ relationship in dismissing a breach of duty claim by an investor and his associated companies against a chartered accounting firm in relation to losses alleged to have been suffered as a result of their introduction by the firm to … Read more

    Amending legacy LIBOR contracts: how to cater for near risk-free rates

    Herbert Smith Freehills LLP has published an article in Butterworths Journal of International Banking and Financial Law on amending legacy loan agreements to replace LIBOR with near risk-free rates. Following the Financial Conduct Authority’s announcement on 5 March 2021 that all LIBOR settings will either cease to be provided by an administrator or no longer be representative … Read more

    SPACs in the City: the emerging litigation and regulatory risks in England & Wales

    Herbert Smith Freehills LLP have published an article in Butterworths Journal of International Banking and Financial Law on the litigation and regulatory risks for special purpose acquisition companies (SPACs) in England & Wales. SPACs scorched the US stock markets last year, with the UK left out in the cold. While the recent crackdown by the Securities and … Read more

    COVID-19 market disclosures and managing the associated litigation risks

    Herbert Smith Freehills have published an article in the Journal of International Banking Law and Regulation: COVID-19 market disclosures and managing the associated litigation risks. Since the start of the pandemic many listed companies have sought to strengthen their balance sheet by raising additional capital from shareholders. This article considers the types of disclosures relating … Read more