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Hot in the City

04 July 2013 / Richard Shave
Issue: 7567 / Categories: Opinion , Banking , Commercial
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Richard Shave reflects on a tumultuous 12 months in the banking world

The unravelling of wave after wave of banking scandals coupled with the new regulatory and political appetite for structural and cultural change at banks has made this a fascinating year for those working in the financial services space.

With the interest rate swap mis-selling scandal jostling for headlines with the LIBOR and PPI scandals, some eye-watering money laundering fines, the very public chastisement of former HBOS executives, not to mention the odd “rogue trader” fraud, it is easy to see why the number of disputes in the banking sector is predicted to reach unprecedented levels in the months and years ahead.

LIBOR

Following hot on the heels of the PPI scandal, came the LIBOR issue. What had at first to some seemed a parochial affair involving UK banks allegedly rigging an obscure financial index, over the last year has grown into an issue of global significance. The world had suddenly woken up to the reality that LIBOR was

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MOVERS & SHAKERS

DWF—19 appointments

DWF—19 appointments

Belfast team bolstered by three senior hires and 16 further appointments

Cadwalader—Andro Atlaga

Cadwalader—Andro Atlaga

Firm strengthens leveraged finance team with London partner hire

Knights—Ella Dodgson & Rebecca Laffan

Knights—Ella Dodgson & Rebecca Laffan

Double hire marks launch of family team in Leeds

NEWS
Charles Pigott of Mills & Reeve reports on Haynes v Thomson, the first judicial application of the Supreme Court’s For Women Scotland ruling in a discrimination claim, in this week's NLJ
Charlie Mercer and Astrid Gillam of Stewarts crunch the numbers on civil fraud claims in the English courts, in this week's NLJ. New data shows civil fraud claims rising steadily since 2014, with the King’s Bench Division overtaking the Commercial Court as the forum of choice for lower-value disputes
The Supreme Court issued a landmark judgment in July that overturned the convictions of Tom Hayes and Carlo Palombo, once poster boys of the Libor and Euribor scandal. In NLJ this week, Neil Swift of Peters & Peters considers what the ruling means for financial law enforcement
Small law firms want to embrace technology but feel lost in a maze of jargon, costs and compliance fears, writes Aisling O’Connell of the Solicitors Regulation Authority in this week's NLJ
Artificial intelligence may be revolutionising the law, but its misuse could wreck cases and careers, warns Clare Arthurs of Penningtons Manches Cooper in this week's NLJ
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