FSA takes Cole on board
Margaret Cole, Financial Services Authority enforcement director, has been appointed to the FSA board as managing director of enforcement and financial crime.
Judicial review bid
A group of 31 north-east firms, led by Middlesbrough firm Freers, has written a pre-action protocol letter to the Legal Services Commission, notifying it of the firms’ intention to seek a judicial review of the family tender process, following advice from counsel over whether to proceed with the action.
Legal thinktank launched
A politically neutral legal thinktank, the Halsbury Law Exchange, launched this week to communicate law reform ideas to decision-makers. It will be chaired by journalist and Gazette columnist Joshua Rozenberg.
Libel claims increase
Celebrities brought nearly three times as many defamation cases in 2009/10 as they did in the previous year – some 30 overall, according to research by Sweet & Maxwell. The publisher reported a 6% rise in all defamation cases, but said there was no sign of ‘forum shopping’, with only three of the 83 cases in 2009/10 categorised as ‘libel tourism’.
Lawyer arrested in Iran
The Iranian authorities have arrested human rights lawyer Nasrin Sotoudeh for ‘acting against national security’ and have charged human rights activist Shiva Nazar Ahari with the capital offence of ‘waging war against God’. The Law Society said it will write a letter of intervention on behalf of the two women.
AML practice note
The Law Society’s property section published its Practical Guide to Anti-Money Laundering this week. See the Law Society’s website.
Addleshaws demands £15m
National firm Addleshaw Goddard asked partners jointly to contribute £15.6m to the business in 2009/10, according to its LLP accounts. It also received a £20m bank loan, the accounts showed.
Prosecution power
In R v Rollins, the Supreme Court confirmed that the Financial Services Authority (FSA) has the power to prosecute money-laundering offences, despite them falling outside the Financial Services & Markets Act 2000.
Damages ‘top £3m’
A quarter of litigation disputes involve claims for damages of more than £3m, according to a survey of 62 top-200 law firms commissioned by Harbour Litigation Funding.
Surge in City vacancies
City firms are taking on more business development and client relationship staff, with a 54% rise in vacancies for these roles in the past year, according to recruitment firm Ambition.
BAE on Gold watch
David Gold, former senior partner at City firm Herbert Smith, has been appointed as the US Department of Justice’s independent corporate monitor to arms company BAE Systems, a client of the firm. Herbert Smith said Gold’s role was unconnected with his responsibilities as a partner at the firm, and it has taken appropriate steps to ensure no conflict of interest arises.
