A group of major U.K. banks fended off on Wednesday an attempt by the Financial Ombudsman Service to investigate customer complaints over historic lending, which they argued could have opened the floodgates to thousands of more claims.
A group of major U.K. banks fended off on Wednesday an attempt by the Financial Ombudsman Service to investigate customer complaints over historic lending, which they argued could have opened the floodgates to thousands of more claims.
The Labour government is planning a 22% charge on interest gained on stocks and shares in individual savings accounts as part of overhauling rules for these tax-free saving options widely used to save for buying homes, Britain's tax authority said.
Elton John and Beyoncé's former manager has beaten a multimillion-pound claim accusing him of improperly diverting a music catalog investment opportunity for his own benefit, with a London judge ruling he was entitled to pursue the idea behind the Hipgnosis music investment fund.
The finance watchdog has urged insurers to strengthen key financial crime controls after it found weaknesses across the sector, including in risk assessments, customer due diligence, transaction monitoring and oversight of outsourced activities.
The Financial Reporting Council said on Wednesday that it had revised auditing standards to shorten auditors' reports after concerns that they had become unnecessarily lengthy in recent years.
UK Finance has called for greater regulatory equivalence as part of a stronger financial services partnership between the U.K. and European Union ahead of their annual leaders' summit in Brussels on July 22.
Real estate investment trust Segro said Wednesday that it has rebuffed an unsolicited £12.6 billion ($16.6 billion) bid from Prologis, saying the approach was "opportunistically timed" as the U.S. company seeks access to the U.K. rival's data center business.
PayPoint PLC said Wednesday that it has completed its acquisition of AperiData following an earlier £1 million ($1.3 million) investment in the credit reference agency and open banking platform.
The Council of Europe’s recently adopted protocol to the Warsaw Convention marks a significant evolution in the international asset recovery landscape, signaling a focus on proactive and coordinated methods that require organizations to consider how to respond quickly to unexpected enforcement action, say lawyers at Trowers & Hamlin.
