Visa and Mastercard are facing a collective action from U.K. businesses seeking more than £700 million ($925 million) in compensation over allegedly excessive fees charged on card payments after Brexit, a former official at the Competition and Markets Authority said Thursday.
Visa and Mastercard are facing a collective action from U.K. businesses seeking more than £700 million ($925 million) in compensation over allegedly excessive fees charged on card payments after Brexit, a former official at the Competition and Markets Authority said Thursday.
The Serious Fraud Office and the government should repay hundreds of thousands of pounds, with interest, that was confiscated from five City traders whose convictions for rate-rigging were quashed, lawyers for the men told an appeals court Thursday.
The former chief executive of collapsed lender Market Financial Solutions avoided on Thursday an imminent hearing over claims he funneled millions of pounds from a financial intermediary linked to MFS into companies he owned and controlled.
Britain's accounting watchdog said Thursday it has fined Deloitte £6.05 million ($8 million) and severely reprimanded the Big Four firm after finding serious failures in its audits of a U.K. transport company.
The U.K. accounting watchdog said Thursday it has closed its investigation into Deloitte's audit of fashion retailer Next unit Joules Group, and will not bring enforcement action.
A wealth management business has accused three ex-employees of setting up competing businesses that snapped up clients with more than £100 million ($132.2 million) in managed assets, claiming they secretly built up the rival while on its payroll.
Insurers MS Amlin and Lancashire have separately agreed to undisclosed settlement terms with scores of aircraft leasing companies that sued to claw back money for planes stranded in Russia after the country's invasion of Ukraine.
The Financial Conduct Authority floated plans Thursday to require investors seeking to withdraw money from retail funds heavily invested in illiquid assets, such as property, to provide asset managers with at least 90 days' notice.
The European Union's insurance watchdog launched a consultation Thursday on reducing the information collected when insurance-based investment products are sold, saying some consumer protection safeguards are too complex.
Aberdeen Group said Thursday it has disposed of approximately half of its holding in insurer Standard Life for around £436 million ($576 million), supported by Slaughter and May.
The U.K.'s antitrust regulator said Thursday it is considering solutions from The Brink's Co. to address competition concerns over the ATM operator's approximately $6.6 billion proposed acquisition of cash machines business NCR Atleos.
The recent U.K. Supreme Court decision in Tesla v. InterDigital & Avanci determined that English and Welsh courts can resolve license rate-setting disputes for standard essential patents, with a U.K. FRAND determination serving as leverage in negotiating high-value licenses for standardized technologies, say lawyers at Quinn Emanuel.
