Gov't Launches New Fraud Squad To Fight Online Scams

By Christopher Crosby

A new fraud squad designed to crack down on online fraud and overseas scam compounds will begin operations in April, drawing together expertise from law enforcement, the government, banks and big tech, the Home Office said on Sunday.

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Developer Accuses Banker Of Cruise Ship Port Takeover Plot

By William Janes

A Belizean businessman has accused a banker of orchestrating a conspiracy to take control of a project to construct a cruise ship port by demanding the repayment of loans and sending the building project into receivership.

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Annington Sued By Trustees Amid £730M Bond Default Row

By Lucia Osborne-Crowley

Annington Funding PLC has been hit with a legal claim from its trustees over an alleged default on £730 million ($978 million) of debt linked to Annington's sale of thousands of U.K. military homes back to the Ministry of Defence.

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JPMorgan Wins Case Pegged To Staffer's 'Inflated' Self-View

By Hanna Vioque

An employment tribunal has dismissed a JPMorgan Chase & Co. staffer's claims of bias regarding being paid less than a male colleague as stemming from "an over-inflated view of her own ability," ruling that the gap reflected their different levels of experience and concerns over her performance. 

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Roundup

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

By Laura Stewart Liberty

This past week in London has seen British American Tobacco sued by more than 100 investors, the government bring a claim against a COVID-19 supplier of personal protective equipment, Annington Funding sue its new corporate trustees on the Financial List, and Piers Morgan hit with a defamation claim from a pro-Israel barrister he interviewed on his YouTube channel. 

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Brief

Lender Must Pay £25K For Skipping Risk Exec's Notice Pay

By Hanna Vioque

An employment tribunal has ordered a financial services provider to pay £25,000 ($33,500) to a risk management executive it dismissed, ruling that it had paid only one month of notice even though he was entitled to six. 

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FCA Disputes 'Unreasonable' Early Closure Of Probe

By Alex Davidson

The Financial Conduct Authority has rejected a decision by the Complaints Commissioner that the watchdog unreasonably closed an investigation into unauthorized promoter Amyma for allegedly marketing unregulated bonds to consumers.

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Unions Call For Greater Worker Voice On Pension Boards

By Joel Poultney

The government should set minimum standards for the number of workers included on the boards of pension trustees to ensure better results for their members in a market set to have fewer, larger retirement programs, the Trades Union Congress has said.

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Pensions UK Aims To Close Retirement Saving Equality Gaps

By Tom Fish

Pensions UK has said it will focus on improving retirement outcomes, boosting economic growth through investment and strengthening the resilience of the system, as the industry body sets out its policy priorities to help shape the future of Britain's retirement sector.

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Aegon Calls For 2-Year Trial Of Value For Money Framework

By Joel Poultney

The government and two of the country's top regulators should run their framework designed to strengthen oversight of the U.K.'s pension programs on a provisional two-year trial basis to ensure the new plan runs successfully, Aegon said Friday.

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Clifford Chance-Led Bank To Buy Aviation Investor For £190M

By Tom Fish

Lesha Bank LLC said Friday that its subsidiary has agreed to acquire Amedeo Air Four Plus Ltd. in a recommended all-cash deal valuing the Guernsey-based aircraft lease investor at £190 million ($253 million).

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How UK Securitization Reforms Will Affect Industry

The Prudential Regulation Authority’s recent proposals to reform securitization requirements will offer greater structuring flexibility, reduced operational complexity and lower compliance costs, although with the rationale for imposing stand-alone obligations on institutional investors not clear, dissenting voices are likely, say lawyers at Skadden.

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