Royal Bank of Scotland

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Your Daily Dose of Financial News

Federal regulators are on the verge of creating a brand new type of banking license specifically for fintech. Called “special purpose national bank charters,” the licenses are intended to enable fintech companies that accept...more

Your Daily Dose of Financial News

Bad news for RBS, which is tasked with scrounging up more capital after failing its Bank of England stress test—a bad sign for a British financial system still coping with Brexit fallout....more

Your Daily Dose of Financial News

The IRS isn’t waiting around for virtual currency to gain wider acceptance. No, it’s more than happy to go after Bitcoin users who have sought to use the virtual currency as a means of evading taxes....more

Your Daily Dose of Financial News

And we thought Brexit was something. Buckle up. It’s going to be a wild market ride... Whoa....more

Date of UK Stress Test Results Announced

The Bank of England announced that the results of the UK 2016 banking stress test would be reported to the relevant firms involved on November 29, 2016 and published on November 30, 2016...more

Orrick's Financial Industry Week in Review

SEC Adopts Rules for Enhanced Regulatory Framework for Securities Clearing Agencies - On September 28, 2016 the Securities and Exchange Commission ("SEC") voted to adopt new rules to establish "enhanced standards for the...more

Your daily dose of financial news - The Brief – 10.4.16

The Journal gives us a closer look at Italy’s Monte dei Paschi—the world’s oldest bank (founded in 1472)—that’s deeply tied to Siena and that’s threatening to drag the whole of the region’s economy down with it if it fails,...more

Your daily dose of financial news - The Brief – 9.6.16

Dealbook gives us the story of Airgas, where founder Peter McCausland’s reticence to sell (despite serious shareholder pressure) resulted in a $5 billion windfall rather than the all-too-often result of a later sale for...more

Bail-In and Contractual Recognition: The Impact on US and Other Non-EU Counterparties and the Potential Impact of Brexit

Following the 2008 banking crisis, governments around the world found themselves having to bail out large financial institutions by injecting capital to help those institutions continue to service their debts. In Europe, the...more

UK 2016 Banking Stress Test Launched

The Bank of England released details of the UK 2016 banking stress test, the first to be designed under the new approach to stress testing published in October 2015. The 2016 stress test will cover seven UK banks and building...more

Comparators in Age Discrimination

Donkor v Royal Bank of Scotland UKEAT/0162/15 considered the appropriate comparator in direct age discrimination cases. Mr Donkor’s employer, the Royal Bank of Scotland (RBS), underwent a restructuring in 2012. As part...more

"A Case Based On Hindsight" - Misselling Claim Rejected

The High Court in Thornbridge Ltd v Barclays Bank plc [2015] EWHC 3430 (QB), 27 November 2015 has rejected an interest rate swap misselling claim for losses allegedly arising as a result of the defendant bank having acted...more

Treasury announces RBS’s divestment of Williams & Glyn

Treasury has asked the CMA to suspend work on its advice on the implications for competition of the latest proposals for the divestment by the Royal Bank of Scotland (RBS) of Williams & Glyn as a new UK retail bank. ...more

Legal Advice Privilege In The Context Of A Regulatory Investigation

In this case report, we consider the decision of the High Court in Property Alliance Group Ltd v The Royal Bank of Scotland plc [2015] EWHC 3187 (Ch) (5 November 2015). In the latest in a series of procedural decisions in...more

FHFA’s $32 Billion RMBS Claims Are Not Time-Barred

On August 21, 2015, Judge Alvin Thompson of the United States District Court for the District of Connecticut denied Royal Bank of Scotland Group PLC’s (“RBS”) motion for summary judgment as to claims brought by the Federal...more

Orrick's Financial Industry Week in Review

5th Circuit Revives FDIC's Suit Against Goldman, Deutsche Bank, and Royal Bank of Scotland - On August 10, 2015, the Fifth Circuit revived a securities fraud suit brought by the Federal Deposit Insurance Corporation...more

5th Circuit Revives FDIC’s Suit Against Goldman, Deutsche Bank, and Royal Bank of Scotland

On August 10, 2015, the Fifth Circuit revived a securities fraud suit brought by the Federal Deposit Insurance Corporation (“FDIC”) as receiver for Guaranty Bank against Goldman Sachs & Co., Deutsche Bank AG, and the Royal...more

Cymbeline – Doing Virtue and FCPA Compliance

Commentators still level the hue and cry that it is somehow the fault of the Department of Justice (DOJ) and Securities and Exchange Commission (SEC) that companies continue to violate the Foreign Corrupt Practices Act...more

Credit Crunch Digest - May 2015

This issue of the Credit Crunch Digest focuses on the nearly $6 billion Forex settlement between the big banks and various regulatory agencies; a judgment against RBS and Nomura in a mortgage-backed securities lawsuit brought...more

Settlement Reached in Forex Lawsuit

For the past few weeks, it has been reported through various outlets that at least five banks were in negotiations with the U.S. Department of Justice (DOJ) and the U.K. Financial Conduct Authority (FAC) to settle...more

Second Circuit Affirms Dismissal of Class Action Alleging That RBS Mislead Investors About RMBS Exposure

On April 15, 2015, the U.S. Court of Appeals for the Second Circuit affirmed the dismissal of a putative investor class action against the Royal Bank of Scotland (RBS). The plaintiffs had brought claims under Sections 10(b)...more

Top Ten Finance Litigation And Regulatory Decisions Of 2014

A summary of the most interesting banking litigation and regulatory decisions from 2014. The selection is necessarily subjective and draws from a wide range of cases and developments that are of direct relevance to finance...more

Financial Institutions and a Lack of Ethics

If there is one industry that needs an ethics overhaul, it has to be the financial industry. The list of transgressions continues to grow – AML/sanctions, LIBOR, Foreign Exchange Currency Cartels and Market Manipulations,...more

Banks Settle with U.K. Regulatory Authority Over Forex Manipulation

Today it was announced that six banks settled with the U.K. Financial Conduct Authority and other regulators for a combined total of approximately $4.3 billion for their roles in the manipulation of the $5.3 trillion-a-day...more

Bank of England Publishes Statement on Enforcement Action Against Lloyds Bank PLC and Bank of Scotland PLC

On July 28, the Bank of England published a statement on Financial Conduct Authority enforcement action against Lloyds Bank PLC and Bank of Scotland PLC. ...more

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