Libor's long tail – lawyers jostle as bank scandals spread through the market
The new year may be a time to start afresh, but the Libor scandal that dominated business headlines in the second half of 2012 is – for advisers – showing no signs of abating. At Clifford Chance (CC), the news that its client Royal Bank of Scotland (RBS) is in the final stages of a settlement with US and UK regulators over its alleged Libor role means the firm's regulatory lawyers will have had a busy start to 2013.
There is no shortage of Libor work for law firms, but the magic circle is losing out to US rivals, says Alex Newman
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