Recent findings by the Financial Conduct Authority of weak oversight of artificial intelligence by wholesale banks expose how failings generated by AI tools could develop into risks of market abuse, lawyers and experts warned.
Recent findings by the Financial Conduct Authority of weak oversight of artificial intelligence by wholesale banks expose how failings generated by AI tools could develop into risks of market abuse, lawyers and experts warned.
A director of a failed car leasing company has denied running an £87 million ($116 million) Ponzi scheme, insisting at his London fraud trial on Wednesday that his plan was to revolutionize the motor industry.
HM Treasury officials denied on Wednesday that they had briefed lenders or their representatives about changes to the bank corporation tax surcharge before the chancellor delivered his Budget statement in October.
A property developer told a London trial Wednesday that French hospitality giant Accor cost it more than £180 million ($239 million) by allegedly inventing copyright objections to an already approved Glasgow hotel design, forcing costly redesigns that derailed the project.
A worker unfairly fired by Nationwide Building Society argued Wednesday that her dismissal amounted to disability discrimination as she sought to revive her rejected harassment claim.
The Financial Conduct Authority warned Wednesday that financial services companies must provide "stronger evidence" they can withstand severe operational disruptions such as cyberattacks, saying that investment plans and promised improvements were not enough to demonstrate resilience.
Eight Capital said Wednesday it has acquired a 100% stake in commercial distribution business Distribuzione Commerciale Next Srl for €7.55 million ($8.4 million), as the banking group seeks to diversify its revenue.
Investment firm KKR and a German energy company have joined forces on two offshore wind farms in the North Sea, a project involving approximately £12 billion ($16 billion) of investment.
The U.K.'s new Iran sanctions reimpose and expand restrictions on finance, energy, trade and transport, bringing its regime closer to the European Union's approach and creating wider compliance demands for affected businesses, says Alexandra Melia at Steptoe.
