Analysis

Frontier AI Explosion Makes Senior Managers Vulnerable

By Alex Davidson

Lawyers are urging the Financial Conduct Authority to rush out guidance on how far senior managers are accountable for growing risks from cutting-edge artificial intelligence amid unclear and outdated rules.

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EU Bank Watchdog Sets Rules For External Risk Management

By Alex Davidson

The European Union's markets watchdog introduced final guidelines Friday to simplify how financial institutions should manage risks from external providers of non-technological services like payment services or call centers.

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Arab Bank Sues Client For £17M Over Mass Loan Defaults

By Isabel Jackson

Arab Bank Europe has sued an Omani businessman for more than £17 million ($22.7 million) after he allegedly failed to cover payments on four defaulted corporate loans he had guaranteed.

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Roundup

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

By Poppy Grainger

The past week in London has seen Victoria's Secret and Thomas Pink file competing IP claims, more than 1,000 retail consumers launch a group action against Binance, Baker Hughes targeted in a commercial claim by its former Russian subsidiary and university students hit four British institutions with breach of contract claims over pandemic-era closures.

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UK Parks Financial Inclusion Changes Until 2027 Review

By Tom Fish

HM Treasury has postponed decisions on several proposed changes to the government's plan to remove barriers to financial participation until a two-year review due in 2027, the government said Friday.

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PRA Pressed On Pledge To Cut Business Admin Burden

By Joel Poultney

An influential cross-party House of Lords committee has asked the Bank of England's regulatory arm to show how it is making good on the government's commitment to slash the regulatory burden by a quarter.

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F1 Says Sanctions Bar Russian Promoter's $24M Refund Bid

By Hanna Vioque

The Formula One World Championship has fought back against claims that it still owes a Russian promotion company a refund for $24 million in race fees that it handed over before Russia's military invasion of Ukraine voided their contract as Western governments imposed sanctions.

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EU Insurers Seek Same Rules Overhaul As Banks

By Tom Fish

The European Union's governing body should broaden its banking sector growth plans to include the insurance industry, a trade association said.  

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Why Bear Hugs Are Making A Comeback In UK M&A Deals

With "bear hugs" recently reemerging as an attractive negotiation tool for bidders in mergers and acquisitions, both target boards and potential acquirers should note the effect of the City Code on Takeovers and Mergers' timing and drafting limits, says Ben Land-Maycock at Covington.

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