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KPMG has been accused of failing "to comply with the fundamental principles of objectivity and integrity" when it gave advice to both the seller and buyer during an acquisition process. (AP Photo/Michael Sohn)

KPMG Faces £15M Fine In PE Conflict Of Interest Case

KPMG should be fined at least £15 million ($21 million) for ignoring the interests of a struggling mattress company it advised in favor of a private equity fund client it was nurturing, Britain's accounting watchdog told a disciplinary tribunal on Monday.

Top Stories

Brazilian Juice Exporter Fights Cartel Claim In England

Brazilian orange juice exporter Sucocitrico Cutrale argued at a London court on Monday that a damages suit brought by more than 1,500 farmers over the company's involvement in a price-fixing cartel belongs in Brazil, not the U.K.

Top UK Court Simplifies Test For Advisers' Duty Of Care

The U.K. Supreme Court has simplified the legal test for the duty of care owed by professional advisers to their customers in a decision that found Grant Thornton liable for its former client's losses, a ruling described by lawyers as a major win for claimants.

Ever Given Insurer Renews Bid To Settle With Suez Canal

The insurer for the Ever Given has made a new settlement offer to the Suez Canal Authority, leading a court hearing for a $916 million insurance claim over the container ship's grounding to be postponed again.

EU Accuses Irish Insurance Group Of Restricting Competition

A trade body for insurers in Ireland could have breached antitrust rules and cut consumer choice by limiting access to a data-pooling service for automotive insurance claims, the European Commission said on Friday.

Many Injury Claimants Face Limbo Over 'Whiplash' Confusion

The government's long-awaited reform to the way in which personal injury claims are treated has been overshadowed in recent weeks by technical glitches and a series of looming test cases that threaten to leave more than a third of claimants in legal limbo.

Top Court Puts Grant Thornton On Hook For Swap Break Fee

The U.K. Supreme Court ruled on Friday that Grant Thornton owes its client Manchester Building Society for its losses from exiting interest rate swaps tied to a mortgage portfolio, concluding that the break costs are within an auditor's duty of care.

Goldman Hit With FCA Complaint Over Winemaker Trades

A Spanish winemaker has asked the U.K.'s financial regulator to look into foreign exchange trades it says were encouraged by Goldman Sachs in the latest chapter of a multimillion-dollar fight over lost investments. 

FX Boss Denies Suspecting HSBC Traders Of Front-Running

The owner of currency investment firm ECU Group testified on Thursday that he did not suspect HSBC foreign exchange traders were misusing confidential information to trade ahead of client orders at the time, as the bank pushes to escape the suit.

Linklaters Pushes To Ax Paralegal's Sex Harassment Claim

Linklaters LLP urged a London tribunal on Thursday to dismiss a paralegal's allegations of sexual harassment against the former chief operating officer of the law firm's technology platform, saying her accusations were not credible.

Ryanair, Airports Sue UK Gov't Over Summer Travel List

Budget airline Ryanair and the owner of three major English airports announced a legal challenge on Thursday against the U.K. government over its "traffic light" system for international travel as they seek transparency over how the list is drawn up.

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