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Financial Services and Securities Litigation

Allen & Overy’s market-leading Financial Services and Securities Litigation practice acts for some of the world’s leading financial institutions and financial services companies on complex, high-stakes contentious issues.

Whether working on cases involving mergers and acquisitions, commercial contracts, securities or insolvency, our specialist litigators take a practical and commercial approach to resolving disputes as efficiently and effectively as possible.

We provide first-rate sector, product and transaction knowledge aligned with our pre-eminent global finance practice, drawing on our unrivalled banking, capital markets and derivatives practices in the world’s main financial hubs.

Our dedicated Financial Services and Securities litigation team works closely with our transactional specialists to give clients an edge in disputes, and this regular collaboration allows us to identify and pre-empt regulatory and sector trends in order to protect clients from future business risks. We act for market leading investment banks, asset managers, hedge funds, private banks and retail banks.

Our work includes: 

  • Acting for BNP Paribas in class action litigation in the U.S. District Court in the Southern District of New York, involving claims that some of the biggest banks in the world manipulated the global foreign exchange (FX) market. 
  • Acting for an American investment bank in  U.S. litigation in which we won dismissal of RICO and common law claims arising from the institution’s provision of banking services to the Bernard L. Madoff firm.
  • Advising an executive of a global financial institution on defending fraud allegations related to subprime mortgages before the SEC and U.S. Senate committee.
  • Acting for four banks in successfully defending against misrepresentation claims brought by Marme Inversiones regarding the EURIBOR benchmark, seeking to rescind interest rate swaps or recover damages in excess of EUR996 million.

News & insights

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Publications: 26 OCTOBER 2020

U.S. Commodity Futures Trading Commission issues final position limits rule

On October 15, 2020, the U.S. Commodity Futures Trading Commission (“CFTC” or “Commission”) voted to approve a final rule on position limits for commodity derivatives (“Final Rule”).

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The Italian Court of Cassation returns on the causal link

Publications: 14 SEPTEMBER 2020

Causal Link: The Italian Court of Cassation returns on the causal link between the failure of the intermediary to fulfil the disclosure obligations and the damages suffered by the investor

With the recent Order of 31 August 2020 n. 18153, the Court of Cassation confirmed its precedents, which impose strict compliance with disclosure obligations by intermediaries for investments occurred…

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Publications: 10 AUGUST 2020

Landmark ruling on rule against recovery of reflective loss

Marex Financial Ltd v Sevilleja [2020] UKSC 31, 15 July 2020 The Supreme Court has significantly narrowed the scope of the rule against the recovery of “reflective loss”. The rule now only applies to…

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Publications: 24 JUNE 2020

Risk of prosecution by foreign regulator no excuse for defendant's failure to disclose in English litigation

The High Court rejected a defendant’s application to vary an order for standard disclosure, notwithstanding that such disclosure would have exposed the defendant to a breach of its regulator’s…

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Recognition

Compact contract

Wooden jenga blocks scattered across a table

A brief look at topical issues in contract law

A blog where experts from Allen & Overy analyse the latest contract law themes and developments, and what they mean for your business.