CDS trades litigation possible for funds

As well as Libor proceedings, funds should pay attention to EC investigations into credit default swaps and identify trades suitable for litigation, says Sue Millar of UK law firm Stephenson Harwood

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Over five years on from the financial crisis, how has the litigation landscape changed?

It is a statement of obvious fact that the financial services industry has been exposed to extraordinary pressures. At the beginning of the financial crisis, it was a question of survival: a number of banks considered systemically important were bailed out by the taxpayer; others, such as Lehman, were allowed to fail – and we all still bear the scars from those decisions.

In the intervening period, much has

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