Standard Chartered announced Friday it has agreed to a settlement in a £1.5 billion ($2 billion) claim brought by investors who said they suffered losses after the bank made allegedly untrue or misleading statements about its noncompliance with Iranian sanctions.
Standard Chartered announced Friday it has agreed to a settlement in a £1.5 billion ($2 billion) claim brought by investors who said they suffered losses after the bank made allegedly untrue or misleading statements about its noncompliance with Iranian sanctions.
Two finance watchdogs unveiled plans to boost growth in the U.K. mutual banking and insurance sector on Friday, part of the government's plan to double the size of the £223 billion ($297.5 billion) market.
Nordic Capital has denied it is liable to pay £15 million ($20 million) to Addere Capital as a success fee for its takeover of wealth manager Hargreaves Lansdown, saying in a London court filing that the financial adviser had not come up with the idea.
A London tribunal has further whittled down a discrimination case brought by a former Barclays vice president, slamming the financier's failure to furnish his "scattergun" allegations with sufficient detail.
This past week in London has seen Mozambique sue the late tycoon Iskandar Safa's family and Privinvest amid the wider $1.9 billion "tuna bond" fraud case, Entain face a claim from a major U.S. pensions agency, and a Mexican lawyer accused of embezzlement bring legal action against Travelers Insurance Co.
Britain's retirement savings watchdog said on Friday its intervention, sparked by concern for members of a pension arrangement sponsored by a food manufacturer, has prompted the business to commit to putting around £300 million ($400 million) into the plan.
Petershill Partners PLC, a private equity investor owned by Goldman Sachs, said Friday that it will no longer trade on the London Stock Exchange after "significant" macroeconomic and geopolitical headwinds forced it to announce the decision in September.
Although the Financial Conduct Authority’s recent proposals for changes to the U.K. short selling regime do not materially alter the rules, targeted reforms designed to reduce the administrative burden placed on position holders will be welcomed by market participants, say lawyers at McDermott.
