Unicredit rightly withheld $69.3 million in payments to aircraft lessors for planes stranded in Russia, Britain's top court ruled Wednesday, as it found that the sanctions regime prevented the bank from making payments connected to the supply of aircraft to Russian airlines.
Unicredit rightly withheld $69.3 million in payments to aircraft lessors for planes stranded in Russia, Britain's top court ruled Wednesday, as it found that the sanctions regime prevented the bank from making payments connected to the supply of aircraft to Russian airlines.
Crispin Odey told a London tribunal on Wednesday that he denied trying to stop a member of staff who he had groped from speaking to the Financial Conduct Authority while it investigated his conduct at the hedge fund.
A London court declined on Wednesday to stop the extradition to India of jewelry magnate Nirav Modi over an alleged $2 billion fraud after accepting diplomatic assurances he wouldn't be tortured.
BDO has denied negligently issuing clean audit opinions for an insurer and causing more than $100 million in losses and liquidation costs in the run-up to the company's collapse.
The Financial Conduct Authority proposed rule changes on Wednesday that would enable financial businesses to give more simplified advice to consumers on pensions and investments, aiming to revitalize financial services take-up.
The Bank of England confirmed it will investigate the financial stability risks from the use of artificial intelligence technology by the financial services sector.
Savings and investment firm M&G PLC has said it completed a £140 million ($187 million) buy-in transaction with a pension program sponsored by electronics giant Panasonic for its employees in Europe.
Insurance giant Aviva said Wednesday that it has taken on pension liabilities worth £104 million ($139.5 million) from a retirement savings plan sponsored by Essentra PLC, in a deal steered by Squire Patton Boggs LLP.
New rules from the Financial Conduct Authority requiring deferred payment credit providers to obtain a financial services license have two notable implications: providers will be subject to full compliance with the regulator’s consumer duty, and must meet its organizational and governance requirements, says Alix Prentice at Cadwalader.
