The U.K.'s accounting watchdog opened an investigation on Thursday into the conduct of individuals and firms involved in auditing the books of failed mortgage lender Market Financial Solutions, whose collapse has sparked allegations of a £1.3 billion ($1.7 billion) fraud.
The U.K.'s accounting watchdog opened an investigation on Thursday into the conduct of individuals and firms involved in auditing the books of failed mortgage lender Market Financial Solutions, whose collapse has sparked allegations of a £1.3 billion ($1.7 billion) fraud.
S&P knowingly generated artificially high credit ratings for risky securities to win business before the 2008 financial crisis, an investment company that acquired claims from several Bear Stearns funds alleged in a new court claim.
The U.K.'s financial services regulator won an order on Thursday putting a currency exchange and international payment processing business into special administration over concerns about a suspected £2.8 million ($3.7 million) shortfall in customer money accounts.
The chief executive of an investment bank will challenge a £99,600 ($133,000) fine for allegedly failing to disclose sanctions imposed by U.S. finance regulators and that Venezuelan authorities had frozen his bank accounts, the Financial Conduct Authority said Thursday.
A Manhattan federal judge allowed a former Moelis & Co. investment banker to avoid prison Thursday after he voluntarily traveled to the United States to cop to his role in a large insider trading conspiracy that profited from stolen merger secrets.
The former CEO of Austrian lender Meinl Bank AG on Thursday pled guilty in Brooklyn federal court after a yearslong fight over accusations he helped Odebrecht SA hide $170 million in funds used to bribe officials around the world and defraud the Brazilian government out of more than $100 million in taxes.
A mortgage provider won a dispute Thursday with the sanctioned daughter of Russian arms manufacturer Mkrtich Okroevich Okroyan when a London judge ruled that it can claim her home because she cannot make due payments.
The government's plan to allow trustees to tap into pension surpluses includes rules that clear the way for plans to more easily pay out lump sum benefits to program members, experts said.
The U.K.'s largest companies spent more than twice as much on defined contribution pensions as on traditional final salary, or defined benefit, schemes in 2025, according to a report published on Thursday.
A global standard setter has urged financial institutions to manage artificial intelligence risks linked to third parties and incorporate human oversight into the effective use of AI, in a new consultation that looks at the responsible adoption of the technology.
The Serious Fraud Office secured a £96,000 ($128,000) confiscation order on Thursday against one of seven men who defrauded thousands of investors out of £8.2 million through a sham biofuel company.
Credit provider IPF and U.S. specialist finance group BasePoint Capital said Thursday in a joint statement that they have received most of the required regulatory and antitrust clearances for their £543 million ($725 million) deal.
The European Union's recently adopted anti-corruption directive does not transform compliance requirements overnight, but it will establish a minimum harmonization framework addressing substantive offenses, corporate liability and sanction levels across member states once national legislation is in place, say Katharina Humphrey, Karla Böltz and Maximilian Schach at Gibson Dunn.
