FCA Halts Euro Exchange Over Financial Crime Risks

By Dawood Fakhir

Britain's financial regulator said Friday that it has taken action against payments firm Euro Exchange Securities UK Ltd. amid concerns over financial crime controls.

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HSBC Beats Discrimination Claim From Worker With ADHD

By Jamie Lennox

HSBC has defeated a former employee's claim that it discriminated against her based on her disability, persuading an Edinburgh tribunal that it did not treat her any less favorably because she has ADHD.

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New Climate Reporting Could Save Investment Cos. £20M

By Dawood Fakhir

The Financial Conduct Authority's new proposals to simplify climate reporting for investment products have the potential to save investment companies around £20 million ($27 million) every year in reporting costs, Britain's financial watchdog said Friday.

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HMRC's Reading Would Double-Tax £10M, Upper Tribunal Told

By Josh White

Shareholders of a holding company argued before the Upper Tribunal on Friday that HM Revenue & Customs misinterpreted tax legislation, risking the same £10 million ($13.4 million) in payouts being taxed twice after a capital reduction.

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Finance Biz Says $5M Loan Was Properly Turned To Equity

By Sophia Dourou

An Irish microfinancing company has hit back against a claim from a Saudi investor over an allegedly unpaid $5 million convertible loan, arguing that it doesn't owe any repayment.

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Brief

Ex-Citi Salesman Loses Pay Bid In Whistleblowing Claim

By Adele Redmond

A former Citi salesman who claims the lender made him redundant because he blew the whistle has lost an early battle in his employment claim.

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Roundup

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

By Megan Norcott

The past week in London has seen the U.K.'s oldest Indian restaurant launch an appeal against King Charles III's property company in an effort to stop its eviction, trustees of a bankrupt former EY tax partner file a claim against his wife, and 37 leading insurers bring a lawsuit against agrichemical company Syngenta over an insurance dispute. Here, Law360 looks at these and other new claims in the U.K.

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Gov't Backs Collective Pension Transfers Without Consent

By Joel Poultney

The U.K. government will allow pension scheme trustees to transfer members' savings into authorized collective defined contribution schemes without getting every saver's consent.

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Brief

EU Targets 3 Nations Over Money Laundering Rule Gaps

By Dawood Fakhir

The European Commission will take formal legal action against Greece, Luxembourg and Sweden for failing to comply with some of its money laundering rules.

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EU Fund Manager Reforms May Deepen Divide With UK Regs

Although the European Union is progressing with newly implemented regulations for alternative investment fund managers, the U.K. is leveraging post-Brexit flexibility to review its regulatory framework, marking a potential divergence between the two regimes, say lawyers at Skadden.

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