The Bank of England said Friday that senior Barclays executive and former Treasury official Katharine Braddick has been appointed as the next head of the U.K.'s main banking watchdog.
The Bank of England said Friday that senior Barclays executive and former Treasury official Katharine Braddick has been appointed as the next head of the U.K.'s main banking watchdog.
The government is reforming the Financial Ombudsman Service, which settles claims between consumers and regulated financial businesses. The reforms come after years of complaints that the ombudsman is not working efficiently, but the proposals have attracted wide criticism.
The Financial Conduct Authority warned Friday that U.K. asset managers have sometimes been unclear how they comply with rules on sustainability labels for funds or whether required disclosures accurately reflect the underlying investments.
This past week in London has seen Linklaters sue a shipping company, high-street clothing giant Urban Outfitters hit with an intellectual property claim, Ithaca Energy sue rival Chrysaor, and cabaret club magnate Alex Proud face legal action with his nightclubs in financial turmoil.
A Texas-based investment company has lost its bid to strike out a decision that a Bulgarian insurer was right to withhold payment of a £3.7 million ($5 million) bond linked to a British residential building project.
A company owned by former Premier League footballer Scott McTominay has sued a U.K. mortgage broker for £2 million ($2.7 million), accusing it of misusing a loan and reneging on a settlement over a Portuguese property development.
The European Union's financial markets regulator has issued a plan to boost consistent oversight of algorithmic trading across the bloc, in recognition of the risks that the rapid growth of increasingly complex automated trading poses to market integrity.
A growing number of people in the U.K. over age 66 are turning to equity release to reduce their inheritance tax liability, with £6.2 billion ($8.4 billion) in mortgage releases in 2024-25, according to financial data revealed Saturday.
British Airways owner IAG confirmed on Friday that it will roll out a new €1.5 billion ($1.8 billion) capital returns program to reward investors, starting with a share buyback program of up to €500 million in early March.
