Regulators fined Bank of America, Citibank, HSBC, JPMorgan Chase, The Royal Bank of Scotland and UBS $4.3 billion (£2.8 billion) for their conduct on FX markets between January 2008 and October 2013.

On 17 April 2014, a major step was taken in facilitating the pursuit of cartel damages claims across Europe.

The Foreign Exchange ("FX") market is the largest financial market in the world, with a daily average turnover of $5.3tn, 40% of which is transacted in London.

Regulators imposed total fines of $3.3 billion (£2 billion) on Citibank, HSBC, JPMorgan Chase, The Royal Bank of Scotland and UBS for their conduct on FX markets between January 2008 and October 2013

More recent developments in the English courts have confirmed that companies who were adversely affected by LIBOR and EURIBOR manipulation may be entitled to bring claims to recover their losses.

On 10 November 2014, the EU Council of Ministers adopted the Directive on antitrust damages actions, which will have to be implemented into national regimes by November 2016.

("CRA") has now received Royal Assent, marking an important move to enhance the powers of the Competition Appeal Tribunal ("CAT").

The Department for Business, Innovation and Skills commenced a consultation process last year, culminating recently in 2014 with proposals for legislative change.

In January 2015 the European Commission announced its intention to appeal a judgment of the Belgian Commercial Court which dismissed the Commission's claim for €6 million of damages against Otis, KONE, Schindler and ThyssenKrupp.

Off the back of its new competition remit the Financial Conduct Authority in July 2014 launched a review of competition in the wholesale financial services sector.

Alastair Brett v Solicitors Regulation Authority; a recent reminder to in‐house lawyers of their dual duties to client and Court – a cautionary tale all in‐house lawyers should have across their radars.

In a recent judgment, the 'Court of Appeal (CoA)' upheld the High Court's ruling that England is not the appropriate jurisdiction for a contribution claim filed by Samsung against LG.

Financial services cases, including those concerning mis-selling, remain in focus – Crestsign Limited v Natwest & RBS [2014] EWHC 3043 (Ch) ("Crestsign") being the most recent example.

On 23 March 2022 the Court of Appeal struck out arguments put forward by the Forex defendants that investment funds had passed on their losses by cashing out of investments.

On 9 November 2010, the European Commission issued a decision fining 11 major airlines almost €800 million for operating a global cartel that affected air cargo services within the European Economic Area between December 1999 and February 2006.

Jurisdiction is of particular importance in follow-on damages claims and, in particular, the realisation of a practical right to compensation in line with the aims of the Damages Directive.

Group litigation has been part of the UK litigation landscape for twenty years. In recent years, however, a number of contributory factors have fuelled the growth of claims brought on behalf ...

The Court of Appeal’s decision at the end of last year in Graiseley Properties Ltd v Barclays Bank plc [2013] (appeal decision) confirmed that the door is open for claimants to plead implied representations against financial institutions in relation to the manipulation of London interbank offered rates (Libor) and/or Euro interbank offered rates (Euribor).

Two AlixPartners experts gave evidence in the landmark case for the U.K.'s collective proceedings regime.

Development Consent Orders, Judicial Review, and the continuing tortuous and uncertain path towards (maybe) a third runway at Heathrow Airport...