The Court of Appeal's decision to wipe out a £677 million ($905 million) payment protection insurance bill for Santander has far-reaching implications on historic liabilities for insurers, transaction lawyers and private equity dealmakers, experts say.
The Court of Appeal's decision to wipe out a £677 million ($905 million) payment protection insurance bill for Santander has far-reaching implications on historic liabilities for insurers, transaction lawyers and private equity dealmakers, experts say.
UBS said Tuesday it has agreed to pay €5 million ($5.7 million) to the Dutch Public Prosecution Service to settle a legacy case involving alleged tax evasion linked to 12 former Credit Suisse clients.
Financial firms shut down almost 240,000 accounts suspected of laundering money in the U.K. last year, but criminals are still moving illicit funds through multiple bank accounts before cashing out, the City regulator said Wednesday.
Kuwait can't extradite the widow of its former pension chief from the U.K. to serve a lifetime prison sentence for allegedly stealing $73.8 million, a London judge has ruled, saying prosecutors failed to formally notify her about her criminal trial.
A founding partner of an Oxford investment company that backs university spin-offs has accused his former business of withholding his share of returns from a medical technology company sold for $1.5 billion.
The freeholder of a property in southwest London has defended its decision to withhold permission for a leaseholder to sublet and convert the building for use as a gym, health and wellness spa.
The Financial Conduct Authority has accepted a recommendation to investigate a complaint over its handling of a redress scheme for customers of a group of lenders, after the Complaints Commissioner found the regulator had wrongly rejected the case as out of time.
The British government must prioritize a long-term pension policy taxation framework in its forthcoming budget, the Investment Association said Tuesday, amid concern that changes to retirement savings rules are undermining investment.
The retirement savings watchdog said political uncertainty is preventing the £2 trillion ($2.7 trillion) workplace pension sector from investing more in domestic real estate and infrastructure projects.
Asset manager Nuveen said Tuesday that it has received regulatory approval for its planned £9.9 billion ($13 billion) takeover of U.K. rival Schroders, paving the way for the deal to close once remaining conditions are met.
Under the Financial Conduct Authority's new nonfinancial misconduct framework, conduct like serious bullying, harassment and violence is now capable of generating regulatory consequences extending well beyond the workplace, and four questions are likely to occupy compliance teams over the coming months, says Chloe-Jane Belton at Howard Kennedy.
