The Financial Conduct Authority and the Financial Ombudsman Service set out landmark reforms to the U.K. financial services redress system on Monday, in line with a government commitment to introduce new legislation.
The Financial Conduct Authority and the Financial Ombudsman Service set out landmark reforms to the U.K. financial services redress system on Monday, in line with a government commitment to introduce new legislation.
Argentina is facing renewed legal action from hedge funds that accused it of using incorrect gross domestic product figures for calculating its €1.5 billion ($1.7 billion) outstanding debt to bondholders, which said Monday they have obtained a court order demanding as much.
UniCredit SpA launched a takeover offer for Commerzbank AT on Monday to push its holding in the German rival above a 30% bar, in a move that would allow it to continue to increase its stake.
AmTrust failed in its bid to hold an insurer of two defunct law firms liable for £59 million ($78 million) in defaulted loans after a court ruled Monday that the losses incurred in claimant cases were not covered by the firms' insurance policies.
Anglo-South African lender Investec Bank PLC has denied that its lending provided funds to PJSC Sberbank in breach of sanctions, while pressing home its claim that two business executives owe it almost £22 million ($29.3 million) under loan agreements.
A New York federal court threw out claims by three pension plans against a London brokerage firm that, according to the plans, executed fraudulent refund claims for them to the Danish tax authority, finding the brokerage had insufficient ties to New York.
The Financial Reporting Council on Monday urged companies to improve the quality of explanations they provide under U.K. Corporate Governance Code provisions, warning that rigid compliance and boilerplate disclosures risk undermining effective governance.
There is "deep unease" about government plans to mandate pension funds to make certain investments, the Association of British Insurers has said, pointing to research that reveals that an overwhelming majority of savers are opposed to interference from Whitehall.
The government should think twice before trying to replicate the Australian model of pension funds investing heavily in domestic assets without allowing the market to develop, a report published Monday found.
Investment services provider StoneX Group Inc. said Monday that it has offered to acquire payment services business CAB for approximately £241.3 million ($321 million) in an all-cash transaction.
Liontrust said Monday it has agreed to acquire the operating asset-management business of River Global PLC in an all-share transaction valued at up to £9.7 million ($13 million).
Recent volatility in the crypto-asset market has placed a strain on balance sheets and laid bare weaknesses that may have been overlooked during more stable periods, increasing the risk for disputes over whether procedures or enforcement have been carried out correctly, say lawyers at Kennedys.
