Banks face increased cross-border litigation

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Lawyers have warned that increased co-operation between financial regulators across different jurisictions is leaving investment banks and fund management companies at risk of fighting costly legal battles with multiple regulators.

Collaboration between global regulators - the latest example of which being the memorandum of understanding (MoU) on information sharing signed last month between the UK's Financial Services Authority (FSA) and the US's Commodity Futures Trading Commission (CFTC) -

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