Analysis

The Top FCA Enforcement Cases Of 2024

By Christopher Crosby

The blockbuster fines imposed by the Financial Conduct Authority on challenger banks Starling and Metro for anti-money laundering failures, its notable penalties against Barclays and its conviction of a former Goldman Sachs banker for insider dealing are just a few of the key cases from 2024.

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Osborne Clarke Pro Fined £50K Over Zahawi Libel Letter

By William Janes

A tribunal fined an Osborne Clarke LLP partner who represented Nadhim Zahawi £50,000 ($62,700) on Friday for trying to stop a blogger revealing that the former chancellor was contemplating libel action over allegations of dishonesty in his tax affairs.

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Ex-Axiom Ince Execs Hit With Fraud Charges Over Collapse

By Christopher Crosby

The Serious Fraud Office charged five former Axiom Ince leaders with fraud on Friday over the collapse of the law firm with a £65 million ($81 million) hole in its client accounts.

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Gov't Reveals Multimillion-Pound Boost In Legal Aid Funding

By Sophia Dourou

The U.K. government has announced an additional £92 million ($115 million) in annual funding for legal aid, in a bid to address the ongoing crisis in the criminal justice system.

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Analysis

BT Delivers Warning Shot To Standalone UK Class Actions

By Joanne Faulkner

Success for BT in the first-ever collective action to reach judgment in the U.K. could dampen the spirits of lawyers and litigation-funders backing more risky standalone claims that do not draw on pre-existing enforcement decisions to establish liability.

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Analysis

The Biggest UK Commercial Litigation Cases Of 2024

By Lucia Osborne-Crowley

The High Court and Court of Appeal resolved some landmark legal disputes in 2024 — the justices liberated the open-source cryptocurrency community from spats over intellectual property protection and determined liability for the high-profile collapse of London Capital & Finance.

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Barrister Loses Appeal Over 6-Month Suspension

By Ronan Barnard

A London judge rejected a bid Friday by a barrister to overturn his six-month suspension for failing to comply with a court order to pay £64,000 ($80,593), ruling that the sanction was "neither wrong nor clearly inappropriate."

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UK Litigation Roundup: Here's What You Missed In London

By Max Austin

This past week in London has seen the University of Southampton sue a drone-maker over the rights to an uncrewed aircraft patent, Importers Service Corp. and its subsidiary ISC Europe take action against a former director who allegedly owes the company over £1.1 million ($1.4 million), and DAC Beachcroft face a fraud claim by a "prolific litigant." 

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Financial Adviser Colbourne In Default After FCA Restrictions

By Alex Davidson

The Financial Conduct Authority has said that Colbourne & Co., an independent financial adviser that it has prevented from doing regulated business, is in default and that clients can claim compensation.

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Many Firms Lack AI In Risk Operations, Study Finds

By Dawood Fakhir

A new study highlighted by UK Finance on Friday has found that almost four in 10 financial services organizations have not implemented artificial intelligence in their risk operations, leaving them with a widening technology gap compared with those who are so prepared.

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EU Lays Out Apple's Interoperability Requirements

By Jared Foretek

The European Commission unveiled a host of proposed interoperability standards for Apple that would require the company to allow third-party devices to run background operations, automatically switch audio, send and receive files via AirDrop and much more with connected Apple products.

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Pension Scams Body Held Back By Lack Of Industry Funding

By Martin Croucher

An influential campaign group on pension scams said Friday that it will not be able to play a bigger role in raising awareness without funding from the retirement sector.

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Takeaways On Freezing Injunctions After Dos Santos Ruling

The Court of Appeal's recent decision in dos Santos v. Unitel moved the needle in favor of applicants for freezing injunctions in two ways, say lawyers at Cooke Young.

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