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Sub practice

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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Blog Post: 11 AUGUST 2021

Impact of proposed changes to decision making at the UK Financial Conduct Authority

The FCA is proposing to streamline decision-making and governance by moving some decision-making powers from the more independent, board level, Regulatory Decisions Committee (RDC) to senior members…

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Publications: 06 JULY 2021

Recital to intercreditor agreement means creditor is contractually estopped from challenging security

An intercreditor agreement provided that neither creditor would challenge the “validity” of the other’s security. The term “validity” was interpreted broadly to prevent a challenge to the general…

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Publications: 10 MAY 2021

No intimidation and economic duress in loan restructuring

A bank had threatened, during negotiations to restructure a loan, that it would appoint a receiver if no agreement was reached. That threat did not amount to intimidation or economic duress on the…

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Publications: 15 FEBRUARY 2021

Top UK finance litigation and contract law developments from 2020

This is a round-up of the most interesting finance litigation and contractual developments in 2020. The selection is necessarily subjective and draws from a wide range of cases and developments that…

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Recognition

Compact contract

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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.