Practice management for in-house lawyers

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This Overview is a guide to the Banking & Finance content within the Practice management for in-house lawyers working in banks or financial institutions subtopic, with links to appropriate materials.

Selecting external law firms

Most large banks and other financial institutions have established panels of legal advisers. These panels are reviewed periodically (often bi-annually) and provide in-house lawyers with a group of pre-approved external law firms which they can use to obtain legal advice.

Where a bank or other financial institution has a legal panel, instructing external counsel is likely to be a more straightforward process than where no panel exists, as a panel

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Latest Banking & Finance News

FCDO announces UK sanctions list as sole authoritative source as OFSI consolidated list closes

The Foreign, Commonwealth & Development Office (FCDO) has announced that the Office of Financial Sanctions Implementation (OFSI) Consolidated List will close on 28 January 2026, with the UK Sanctions List becoming the sole authoritative source for all UK sanctions designations.

Eurosystem to accept DLT-based assets as eligible Eurosystem collateral

The European Central Bank (ECB) has announced that the Eurosystem will accept marketable assets issued in central securities depositories (CSDs) using distributed ledger technology (DLT)-based services as eligible collateral for Eurosystem credit operations as of 30 March 2026. The ECB says further work is underway exploring ways to expand eligibility to assets issued and settled entirely on DLT networks.

MHCLG publishes draft Commonhold and Leasehold Reform Bill and accompanying consultation on banning leasehold flats

The Ministry of Housing, Communities and Local Government (MHCLG) has published a draft Commonhold and Leasehold Reform Bill on 27 January 2026 for pre-legislative scrutiny.  It sets out proposals to reform the commonhold model, making it easier for existing leaseholders to voluntarily convert their buildings to commonhold and to ban the use of leasehold for most new flats. This follows recommendations from the Law Commission and the Commonhold White Paper published in March 2025.

BOC Aviation reaches settlement with Cathedral Capital over stranded planes

Law360, London: BOC Aviation (Ireland) Ltd has reached a settlement with Cathedral Capital (1998) that it had claimed should partly cover for an alleged US$129m loss from planes stranded in Russia after the country's invasion of Ukraine.

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