The Financial Watchdog Authority said Wednesday it has hit John Wood Group PLC with a fine of £12.99 million ($17.38 million) after finding that the engineering and consulting business published inaccurate information in its financial results.
The Financial Watchdog Authority said Wednesday it has hit John Wood Group PLC with a fine of £12.99 million ($17.38 million) after finding that the engineering and consulting business published inaccurate information in its financial results.
The Financial Conduct Authority said Wednesday that it would streamline the claims process and set a three-month period for businesses to get their systems ready to handle complaints and requests for compensation under its motor finance redress program.
Spain and Zimbabwe lost their bids on Wednesday to use state immunity to escape arbitration awards as the U.K. Supreme Court upheld judgments against the two nations, ruling that state immunity does not apply to the enforcement of investor-state arbitration awards.
Two former betting company executives were denied permission on Wednesday to challenge a decision to dismiss their privacy claims against Britain's gambling regulator as a judge said that a redacted version of her judgment would be published before their bribery trial.
An employment tribunal has ruled that Lloyds Banking Group didn't unfairly dismiss a staffer on maternity leave because the bank had followed a fair redundancy process, and she had scored the lowest out of eight candidates vying for just five roles.
The Financial Conduct Authority on Wednesday called for more businesses to engage with customers online to help drive away financial criminals preying on the investment marketplace.
Britain's retirement savings watchdog said Wednesday up to £400 billion ($535.3 billion) of pension assets could transfer to the insurance sector over the next 10 years in a landscape that has undergone a "paradigm shift" over a very short period of time.
The government organization behind Britain's long-awaited pensions dashboards project has called for more volunteers to take part in the next round of consumer testing for its online retirement savings portal.
Britain's pensions governance and regulatory architecture will become "unfit for purpose" within a decade unless urgent reforms are made, a cross-party think tank warned on Wednesday, highlighting growing risks in the market for workplace defined contribution plans.
AIB Group PLC on Wednesday launched a €1 billion ($1.16 billion) share buyback program, underscoring its "strong financial performance" and its commitment to returning cash to stakeholders.
Wealth manager Quilter PLC said on Wednesday that it is launching a share repurchase program of up to £100 million ($134 million) in a move aimed at downsizing its share capital.
DLA Piper said Wednesday that it has hired four partners for its offices in London and Luxembourg, boosting its financial services, tax and private equity teams.
The Financial Conduct Authority’s London High Court action against global crypto-exchange HTX for illegally promoting its services to U.K. consumers sends the message that it will pursue those who flout the rules from a distance and will be key in testing the extent of the U.K.’s regulatory perimeter, says Nick Barnard at Corker Binning.
