The Financial Conduct Authority's new rulebook on non-financial misconduct for 37,000 asset managers, insurers and other non-banking companies that took effect on Tuesday has raised new uncertainties and risks.
The Financial Conduct Authority's new rulebook on non-financial misconduct for 37,000 asset managers, insurers and other non-banking companies that took effect on Tuesday has raised new uncertainties and risks.
Britain's sanctions watchdog said Wednesday that it has fined Citibank £4.7 million ($6.35 million) for processing almost 1,000 transactions over a span of three years despite financial restrictions imposed on Russia.
The Financial Conduct Authority warned Wednesday that frontier artificial intelligence is discovering vulnerabilities faster than regulated companies can respond, exposing risks that need information-sharing and coordinated engagement with suppliers.
Three former directors defrauded thousands of victims out of £70 million ($94.4 million) through a tree plantation investment scheme to finance their luxurious lifestyles, a prosecutor for the Serious Fraud Office said at a sentencing hearing in London on Wednesday.
Administrators of a financial intermediary linked to the collapsed Market Financial Solutions have sued MFS' former director Paresh Raja for £242 million ($327 million), alleging that he funneled the money to companies he owned and controlled.
A former director at a cybersecurity company has sued his business partners, alleging they ousted him to force him to sell his shares at half their fair value and derail a potential technology sale to Mastercard.
Britain's tax authority didn't misinterpret tax legislation when it applied anti-avoidance rules to a holding company's payout of £10 million ($13.5 million) to shareholders, a London tribunal ruled Wednesday.
