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Konexo Legal Resourcing Celebrates Anniversary

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An anniversary is the date on which an event took place or an institution was founded in a previous year, and may also refer to the commemoration or celebration of that event. The word was first used for Catholic feasts to commemorate saints.

Konexo, developed by Eversheds Sutherland, today celebrates the one-year anniversary of its official launch. Eversheds is a global multinational law practice created by a combination of law firms, in February 2017, and is one of the 50 largest law practices in the world.

During this time, the practice has advanced its position through continued global expansion across Europe, Asia, and most recently the United States. It has also strengthened its capabilities in areas including digital transformation, managed legal services, and trade mark and design law.

Konexo works with global clients across multiple sectors including banking and financial services, telecoms, and diversified industrials, offering clients a breadth of services underpinned by cutting-edge technology such as AI and robotics.

Investing in top talent continues to be a strategic priority. Significant hires include Babar Hayat, Head of Technology and Transformation, who leads the digital transformation practice, while Brett Aubin, Managing Director, heads regulatory response managed services focusing on LIBOR transition services and other repapering projects.

Trystan Richards recently joined as Legal Services Director, and will support managed service relationships and repapering projects across the global client base.

Earlier this year Konexo launched Resourcing+, an evolution of its existing resourcing service which was rolled out across its global network. Resourcing+ gives clients immediate and high quality legal talent without having to commit to specific timeframes.

Clients using the service include Nestlé UK Ltd, Pernod Ricard UK Ltd and Lion Pty Ltd.

This month, Eversheds Sutherland’s UK Branding Group permanently moved to Konexo. Led by Kate Ellis, it comprises specialist trade mark and design lawyers, attorneys and paralegals. The team provides a dedicated service and acts as ‘one stop shop’ for clients throughout the full lifecycle of a brand.

Market Manipulation Hits Record High

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Market manipulation is a type of market abuse where there is a deliberate attempt to interfere with the free and fair operation of the market; the most blatant of cases involve creating false or misleading appearances with respect to the price of, or market for, a product, security or commodity.

822 reports of suspected manipulation were made to the Financial Conduct Authority last year by market participants, suggesting that the problem is far from being eradicated.

The FCA is a financial regulatory body in the UK, but operates independently of the Government, and is financed by charging fees to members of the financial services industry.

Market manipulation is the attempt to artificially increase or decrease the price of an asset, index or its derivative in order to make a gain.

Following the LIBOR scandal that broke in 2012, the laws relating to manipulation were significantly tightened up. This included criminalising the attempted manipulation of benchmarks.

Market manipulation has been investigated by regulators in a wide range of asset classes, including bonds, Forex, oil, gold, silver, palladium and platinum.

However, 60% of reports to the FCA last year related to suspected manipulation of equities and equity derivatives.

RPC says that reports of manipulation are likely to have been made by brokers, trading houses and fund managers who identify suspicious price movements or order flows being posted by other market participants.