The Royal Bank of Scotland has hit back against a collapsed investment company's £73 million ($97 million) claim, denying it had any responsibility for allegedly allowing payments earmarked for solar farms to be misappropriated for the company's director.
The Royal Bank of Scotland has hit back against a collapsed investment company's £73 million ($97 million) claim, denying it had any responsibility for allegedly allowing payments earmarked for solar farms to be misappropriated for the company's director.
Receivers seeking the proceeds from a Chinese investment fraud will not recover their legal costs after a dispute over which law governs claims to billions of pounds in cryptocurrency seized by British police, a London judge ruled Friday.
The Financial Conduct Authority committed to changing some of its rules for protecting consumers after industry backlash showed these were sometimes failing to hit the mark.
The financial watchdog revoked Friday the lifetime bans on four traders whose convictions for rigging benchmark interest rates were overturned on appeal in landmark proceedings that unraveled prosecutions brought after the global financial crisis.
A private investor has sued a financial analyst for allegedly failing to close stock trades as prices fell, claiming the inaction contributed to up to £14.7 million ($19.6 million) in avoidable losses under a deal the pair scribbled on a Post-it note.
The past week in London has seen failed cryptocurrency platform BitMEX sue Celsius Network amid ongoing litigation between the companies, and an independent music producer lodge a claim against Universal Music over the 1993 Gabrielle hit single "Dreams."
The buyer of a €101.8 million ($114.6 million) luxury yacht whose builder sought insolvency before finishing the project has sued an Allianz unit for €58.8 million after the insurer allegedly failed to pay out over construction guarantees.
Europe's banking regulator has classified the world's second-largest dollar stablecoin as the bloc's first "significant" e-money token, bringing the cryptocurrency's reserves, liquidity and redemption arrangements under closer supervision from Nov. 12.
Financial services companies must complete technical preparations and begin testing, as two deadlines approach, to shorten securities settlements to one business day after trading, a European Union regulator said Friday.
The U.K.'s Labour government is preparing to raise taxes on banks in the autumn budget, according to a newspaper report, including a possible hike to the bank levy.
With management teams increasingly asked to stay invested for longer periods as private equity holding periods extend and routes to exit become less predictable, management incentive plans require sufficient flexibility to remain effective, say lawyers at Morgan Lewis.
