Privilege—a guide for in-house banking and finance lawyers

Published by a UU��ֱ�� Banking & Finance expert

Practice notes

Privilege—a guide for in-house banking and finance lawyers

Published by a UU��ֱ�� Banking & Finance expert

Practice notes

This Practice Note explains at a high level the concept of privilege between clients and their lawyers from the perspective of an in-house lawyer. It is written for banking and finance lawyers working in banks or other financial institutions. It highlights where issues of privilege may arise for in-house banking and finance lawyers and practical steps which can be taken to deal with these.

Privilege is a complex topic and as such further reading is recommended. The following provide overviews of the further reading materials available:

•
Privilege and without prejudice communications—overview
•
Legal professional privilege—LPP—for in-house lawyers—overview

What is privilege?

The core aim of privilege is to protect the confidentiality of particular communications between clients and their lawyers or (in some circumstances, third parties).

Privilege entitles a party (or their successor in title) to withhold documents from production to a third party, the court or tribunal. Note that the right belongs to the client and not to the lawyer and therefore the death of a client does not extinguish privilege; privilege passes to the successor in title. Once

Jurisdiction(s):

United Kingdom

Key definition:

Law definition

What does Law mean?

means: (a) any legislation, regulation, by-law or subordinate legislation in force from time to time to which a party is subject and/or in any jurisdiction that the Services are provided to or in respect of; (b) the common law and laws of equity as applicable to the parties from time to time; (c) any binding court order, judgment or decree; (d) any applicable industry code, policy or standard; or (e) any applicable direction, policy, rule or order that is binding on a party and that is made or given by any regulatory body having jurisdiction over a party or any of that party’s assets, resources or business;

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