Analysis

FCA's Motor Finance Retreat Ramps Up Enforcement Risks

By Alex Davidson

The Financial Conduct Authority is putting senior managers of banks at a potentially higher risk of enforcement action after a tribunal forced it to partially suspend its motor finance compensation program, lawyers warn.

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UK Financial Watchdogs To Regulate Big Tech Providers

By Tom Fish

The government said Friday it will bring cloud computing giants under direct financial regulatory oversight as it seeks to strengthen the resilience of the country's financial system and reduce the risk that widespread service disruption could affect banks, insurers and consumers.

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FCA Finds Widespread Failings In Consumer Duty Review

By Alex Davidson

The Financial Conduct Authority said Friday that it has found failings in how financial services businesses designed, monitored or distributed products under its consumer duty requirement.

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Roundup

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

By Laura Stewart Liberty

The past week in London has seen lawyer Ian Rosenblatt launch legal action against music mogul Simon Cowell, Boohoo face a fresh investor claim after previously facing allegations that it feigned ignorance of labor abuses in its supply chain, and an ex-Tory MP and his chief of staff sued by their former employer. Here, Law360 looks at these and other new claims in the U.K.

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Investment Firms Lose Appeal Over Stolen Fund Plans

By William Janes

An investment fund manager and a consultancy failed Friday to overturn a ruling that they had stolen confidential information to set up a Venezuelan debt investment fund after a joint venture failed, as the Court of Appeal rejected their argument that the material was already public.

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Mishcon Beats Bid To Pierce Privilege In $3B Inheritance Fight

By Eddie Beaver

A London court ruled Friday that Mishcon de Reya LLP and its clients do not have to disclose communications concerning information obtained about their opponents through covert investigations in a $3 billion inheritance dispute, saying the iniquity exception to legal professional privilege does not apply.

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Lloyds Beats Underperforming Risk Analyst's Dismissal Claim

By Max Austin

A tribunal has ruled that Lloyds Bank acted reasonably in dismissing a former assistant risk manager, finding that she failed to recognize shortcomings in her performance, despite months of coaching and support.

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Finland's S-Bank Agrees To Buy Domestic Rival For €571M

By Tom Fish

Finnish lender S-Bank PLC has agreed to acquire a domestic competitor, Oma Savings Bank PLC, in a recommended all-cash takeover valued at €571.4 million ($653.4 million), a move intended to create a stronger financial player.

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