Insights

Brussels and Doha – April 1, 2024: The Legal 500 Europe, Middle East & Africa (EMEA) 2024 edition has recognized 16 practice areas and 11 lawyers in Crowell & Moring’s Brussels and Doha offices. The 11 individual lawyers received 18 total rankings across the 16 different practice areas.

London—December 6, 2021:  Crowell & Moring is expanding its financial services capabilities in London with the arrival of a highly-regarded derivatives team. The team is recognized for their deep experience advising global investment banks and private equity funds on a range of complex structured finance and derivatives transactions in the U.S., UK, and European markets.

New York – April 1, 2021: Crowell & Moring and Kibbe & Orbe have joined forces effective today to provide expanded service offerings to clients in the financial services industry.  Twenty-four lawyers from the storied financial law firm are now part of Crowell & Moring’s New York, London, and Washington, D.C. offices, including Jennifer Grady, managing partner and chair of the firm’s executive committee, who will co-chair Crowell & Moring’s Corporate practice; three founding partners, Jonathan Kibbe, William Orbe, and Michael D. Mann, and the managing partner of the London office, Andrew M. Martin.

On 29 June 2023, the long-awaited Financial Services and Markets Act 2023 (the “Act”) received Royal Assent, clearing the Act’s final hurdle prior to its implementation. The Act is the framework for the UK’s post-Brexit financial legislative and regulatory landscape.  Focusing on the promotion of competition, innovation and investor protections, it hopes to ensure the UK’s continued leadership in the global economy by providing “a smarter financial services framework”. While the Act is 349 pages in length, we have set out some of the key themes and regulations currently making headlines.

It has been over two years since the UK Financial Conduct Authority (FCA) announced that all LIBOR settings will cease to be provided and market participants will not be permitted to reference LIBOR in their contracts. Since that announcement, various regulators, industry bodies and market participants have worked to transition from LIBOR to using risk free rates (RFR) in contracts.

Following a meeting of the G7 Summit Leaders, on May 19, 2023, the United States and the United Kingdom announced a new round of sanctions and export controls against the Government of the Russian Federation (“Russia”) to continue their efforts against key sectors of Russia’s military-industrial base. These actions target procurement and evasion networks to curtail the flow of necessary resources Russia needs to maintain and fund its campaign against Ukraine. In this alert, Crowell & Moring attorneys based in our U.S. and UK offices provide a comprehensive overview of the recent multi-jurisdictional actions taken by the respective countries’ government agencies.

In the UK, regulatory scrutiny of data breaches has resulted in significant fines. But the repercussions of those actions are highlighting broader changes in the nature of collective actions that are starting to take root in the country.