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Jul 19, 2024 · The influx of US rivals has had a profound effect on how the UK’s traditional “magic circle” law firms — names such as Linklaters, Freshfields Bruckhaus Deringer, Clifford Chance and A&O Shearman...
The term 'magic circle' was first coined by legal journalists in the late 1990s, and for the past 15 years it has consisted of a distinct group of five: A&O Shearman, Clifford Chance, Freshfields, Linklaters, and Slaughter and May. What sets these firms apart from the rest of the UK legal market?
Jan 1, 2021 · DLA Piper is again the top UK law firm by revenue, the 2020 financial ranking of the UK’s top 200 law firms reveals.
This register is the definitive impartial source of information about the law firms and people regulated by the Solicitors Regulation Authority. Check whether somebody is a solicitor and find where they work.
- Executive Summary
- Introduction
- Individual Accountability: The SMCR
- Culture
- Comment: A Worthy Legacy?
The failure of Lehman Brothers on 15 September 2008 triggered a host of changes to regulatory enforcement in the UK: the replacement of the FSA with the FCA and PRA, new regulatory powers, new penalties and new levels of international cooperation between regulators. There are two fundamental changes though that most closely reflect the fallout from...
Lehman Brothers failed, disproving the belief that certain institutions were "too big to fail". The result was a significant dislocation to financial markets and further bank failures. Numerous scandals followed as conduct failures in the sector came to light. That prudential and conduct failures occurred simultaneously was not considered to be a c...
In March 2016, the FCA replaced the Approved Persons Regime with the Senior Managers & Certification Regime (SM&CR) for banks and the regime will shortly be extended to nearly all other financial services firms. This followed the PCBS recommendation for a new accountability framework that would provide clarity as to: This would provide a sound basi...
Culture, commonly defined for regulatory purposes as “the way we do things around here”, is not something that lends itself to being regulated. The FCA has recognised this in its discussion papers; making clear that while it no longer considers that simply complying with rules is sufficient, it does not believe that culture can be “one size fits al...
A lack of individual accountability and poor culture were viewed as key drivers in the collapse of Lehman Brothers, the financial crisis and conduct scandals that followed. Measures have followed which are designed address those shortcomings, principally in the form of the SMCR and whistleblowing regimes. These measures are based on the deterrent e...
Nov 15, 2018 · A former senior counsel for Lehman Brothers investment bank and artificial intelligence (AI) technology pioneer has predicted AI will be crucial in helping companies alter thousands of contracts rapidly in the aftermath of Brexit.
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Oct 14, 2022 · Law firms now offer a form of hybrid working, where people are allowed to work from home, and human resource policies are designed to soften the high-pressure effects of elite law firm...
