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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

Birketts—trainee cohort

Birketts—trainee cohort

Firm welcomes new cohort of 29 trainee solicitors for 2025

Keoghs—four appointments

Keoghs—four appointments

Four partner hires expand legal expertise in Scotland and Northern Ireland

Brabners—Ben Lamb

Brabners—Ben Lamb

Real estate team in Yorkshire welcomes new partner

NEWS
Robert Taylor of 360 Law Services warns in this week's NLJ that adoption of artificial intelligence (AI) risks entrenching disadvantage for SME law firms, unless tools are tailored to their needs
The Court of Protection has ruled in Macpherson v Sunderland City Council that capacity must be presumed unless clearly rebutted. In this week's NLJ, Sam Karim KC and Sophie Hurst of Kings Chambers dissect the judgment and set out practical guidance for advisers faced with issues relating to retrospective capacity and/or assessments without an examination
Delays and dysfunction continue to mount in the county court, as revealed in a scathing Justice Committee report and under discussion this week by NLJ columnist Professor Dominic Regan of City Law School. Bulk claims—especially from private parking firms—are overwhelming the system, with 8,000 cases filed weekly
Charles Pigott of Mills & Reeve charts the turbulent progress of the Employment Rights Bill through the House of Lords, in this week's NLJ
From oligarchs to cosmetic clinics, strategic lawsuits against public participation (SLAPPs) target journalists, activists and ordinary citizens with intimidating legal tactics. Writing in NLJ this week, Sadie Whittam of Lancaster University explores the weaponisation of litigation to silence critics
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