UniCredit Refers Commerzbank Claims To German Regulator

By Dawood Fakhir

Italian lender UniCredit SpA on Monday rejected statements by Commerzbank AG raising doubts about the response of its shareholders to UniCredit's merger proposal, saying it has contacted Germany's Federal Financial Supervisory Authority, or BaFin, over what it called a "relentless dissemination of inaccurate and misleading information" by its German takeover target.

Read full article » | Save to favorites »

Capita Will Miss Pension Service Deadline, Union Says

By Martin Croucher

The company at the center of the ongoing public sector pensions crisis will miss a government-imposed deadline to restore service by the end of June, a union said Monday.

Read full article » | Save to favorites »

CBRE Denies 'Biased' Valuation In Skyscraper Rent Fight

By William Janes

Real estate investment giant CBRE has hit back at allegations that it had wrongly withheld rental income from the owner of the Finance Tower in Belgium on the basis of a "biased" valuation of the skyscraper obtained by lenders who pressured surveyors.

Read full article » | Save to favorites »

Move To Self-Employment Tanks Pension Saving, IFS Says

By Joel Poultney

More than three-quarters of savers stop putting money into a pension when they become self-employed, the Institute for Fiscal Studies has said, amid continued concern over the "urgent challenge" of retirement savings inadequacy in the U.K.

Read full article » | Save to favorites »

Tech Firms Urged To Pay Up As UK Fraud Hits £1.3B

By Christopher Crosby

Technology and telecoms companies should be forced to join banks in compensating consumers for payment fraud, the body representing financial institutions in the U.K. said on Monday, as it revealed that criminals stole £1.28 billion ($1.72 billion) in 2025.

Read full article » | Save to favorites »

Pensions Regulator Adds 3 Senior Execs To Its Board

By Tom Fish

The government said Monday that it has appointed three new members to the board of the pensions watchdog in a move to bolster its leadership ahead of sweeping reforms that are set to reshape the retirement sector.

Read full article » | Save to favorites »

Brief

Regulator Seeks Experts To Shape UK Accounting Standards

By Joel Poultney

Britain's audit watchdog has said it wants new financial reporting experts to join its working group designed to shape accounting standards in the U.K. and Ireland.

Read full article » | Save to favorites »

Brief

Disqualified Director Jailed For £3M Fraud, Money Laundering

By Laura Stewart Liberty

A company director has been sentenced to four years in prison for diverting more than £3 million ($4 million) through an insolvency fraud and money laundering scheme, the Insolvency Service said.

Read full article » | Save to favorites »

EU Foreign Subsidies Report Offers Chance To Take Stock

The European Union’s forthcoming review of the Foreign Subsidies Regulation, revealing reassuringly low intervention rates but a burdensome prenotification process, offers the European Commission a timely opportunity to address genuine distortions and be more proportionate in its demands on market participants, say lawyers at Dechert.

Read full article » | Save to favorites »

Series

Practice Leader Insights From Covington's David Berman

David Berman, Covington's head of EMEA financial services, discusses how he perceived a gap in the market for practical financial regulatory advice, the challenges of advising Egypt on its new banking law, and how firms that neglect artificial intelligence governance do so at their peril.

Read full article » | Save to favorites »