The Financial Conduct Authority said Thursday it has charged nine social media influencers and reality TV stars for promoting an unauthorized trading scheme online that dealt with high-risk financial products tied to foreign exchange rates. 
Law360 UK
Financial Services
SATURDAY, MAY 18, 2024 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

iStock-516493712 (2).jpg

FCA Charges Reality TV Stars Over Risky Investment Ads

By Christopher Crosby

The Financial Conduct Authority said Thursday it has charged nine social media influencers and reality TV stars for promoting an unauthorized trading scheme online that dealt with high-risk financial products tied to foreign exchange rates. 

Read full article » | Save to favorites »

Nationwide Cited For Compliance Breaches In PPI Market

By Alex Davidson

The competition watchdog said on Thursday it has written to Nationwide Building Society, telling the lender that it had breached the rules by giving clients incorrect information about insurance covering mortgage repayments.

Read full article » | Save to favorites »

Russian Wealth Fund Fails To Curb EU Sanctions

By Eddie Beaver

The European Union's General Court has upheld sanctions against a Russian sovereign wealth fund, ruling it is the "archetypal" company for attracting international investors who sustain the country's war in Ukraine.

Read full article » | Save to favorites »

LITIGATION

M&G Accounts Manager Wins £13K Over Resignation Dispute

By Tabitha Burbidge

An accounts manager at M&G PLC has won more than £13,000 ($16,500) after an employment tribunal found that the company wrongly refused to let him see out his 12-week notice period while on garden leave.

Read full article » | Save to favorites »

Lithuania PM Wants Frozen Russian Assets To Help Ukraine

By Todd Buell

Lithuania's prime minister said Thursday that Russia's frozen assets should be used to help Ukraine fight off aggression from its larger neighbor, saying that a recent European decision to use profits from frozen assets should be only a first step.

Read full article » | Save to favorites »

DEALS

Slovenian Bank NLB Bids €400M For Austrian Lender Addiko

By Tom Fish

A Slovenian bank has tabled a €400 million ($435 million) bid to buy Austria's Addiko, a business lender operating in central and southeastern Europe, as it seeks to expand into new territories.

Read full article » | Save to favorites »

Promo that reads Law360 2024 Titans of the Plaintiffs Bar Promo that reads Law360 Pulse 2024 AI Survey

LAW FIRMS IN TODAY'S NEWS

Schönherr Rechtsanwälte

COMPANIES IN TODAY'S NEWS

Deloitte Touche Tohmatsu Ltd.

Euroclear PLC

Instagram Inc.

Lloyds Banking Group PLC

Nationwide Building Society

Russian Direct Investment Fund

GOVERNMENT AGENCIES IN TODAY'S NEWS

Competition and Markets Authority

European Commission

European Union

Financial Conduct Authority