Blockchain and distributed ledger technology offers significant and scalable processing power, high accuracy rates, and apparently unbreakable security at a significantly reduced cost. This article explains how.
Key changes to the EU Trade Mark Regulation come into force on 1 October 2017. This article looks at the three main elements.
The CMA has issued guidance - and a further warning - to the estate agency sector. This article examines the key points.
China currently accounts for one quarter of global renewable energy capacity and one third of all global investment in renewables. This article examines the implications for the energy sector.
Regulators across the globe have been speaking out (and in some cases acting out) on initial coin offerings (ICOs). The UK’s Financial Conduct Authority (FCA) has now added itself to the map...
This briefing examines the recent decision by the the European Court of Human Rights in Barbulescu –v- Romania .
The regulation represents yet another attempt by a state to work around the U.S. Supreme Court’s decision in Quill Corp v. North Dakota.
The Court of First Instance’s decision has important implications for directors of listed companies when failing to act in the best interests of the company.
The EU Court of Justice's decision to refer the Intel case back to the General Court highlights the role of an economics based approach in determining whether exclusivity rebates breach competition law.
This article examines the Department for Digital, Cultural, Media & Sport's proposed Cyber Security Directive.
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Lloyds Banking Group has launched a review of its customer pay panel for the first time in three years.
The roster, used by Lloyds when its corporate and business clients require specialist legal advice, is known within the bank as the ‘pass-through’ panel.
It covers legal advice to the bank’s clients on transactions, with fees passed directly onto the client, rather than paid by the bank itself.
Tender documents were sent to panel firms last week, with the line-up set to be finalised in December.
Firms including CMS, Addleshaw Goddard, Osborne Clarke, Reed Smith and Hogan Lovells won spots on the panel in 2014, when the bank formalised arrangements for customer pay work for the first time.
A Lloyds spokesperson told Legal Week: “The bank’s commercial banking pass-through panel is reviewed and re-tendered on a rolling basis and is currently under review. Such review is determined based on a rigorous and competitive tender process. Our focus is about ensuring we work together with firms in a strategic partnership to ensure that we deliver the highest quality of service for our clients. We anticipate making a decision on confirmed panel members in December.”
Lloyds’ main legal panel was reviewed last year, with eight firms making the cut.
Group general counsel Kate Cheetham led that process, which saw existing panel firms CMS, Eversheds, Herbert Smith Freehills, Hogan Lovells, Linklaters, Allen & Overy, Ashurst and Addleshaw Goddard retain their places. DLA Piper and Norton Rose Fulbright both came off the roster.
Earlier this year, 24 firms including Berwin Leighton Paisner, Simmons & Simmons, Bond Dickinson and Reed Smith won places on Lloyds’ specialist sub-panel following a review.
A 2015 review of its sub-panels saw Lloyds state that it wanted to give more work to its core panel of advisers.
Other bank panels recently reviewed include Standard Chartered’s global panel, on which Dentons won a first-time spot, and HSBC’s UK panel, to which around 10 firms were appointed, including CMS and Eversheds Sutherland.
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Review set to affect 78 business services roles and 12 legal support roles in London
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