Gambling Co. Brothers Fight Private Prosecution Over Fraud
Two brothers behind a failed gambling company appeared in a London court Friday to face fraud charges brought by an investor who claims they siphoned off the company’s assets and sold them to Gibraltar-based online betting firm Mansion Group.
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The Financial Conduct Authority is investigating whether a Qatari-owned British bank complied with anti-money laundering rules amid reports the lenders' clients may have ties to extremist organizations, the company said Friday.
The Financial Conduct Authority threatened on Friday to take legal action against claims management companies after it found “widespread poor practice” in the use of advertising in the sector.
Britain’s competition watchdog ordered Royal Bank of Scotland and Santander on Friday to audit the way they deal with payment protection insurance after the lenders failed to tell thousands of customers about their policies for handling those affected by misselling of the controversial cover.
Deutsche Bank will pay the U.S. Securities and Exchange Commission $16 million to settle claims it offered "numerous" jobs to relatives of Chinese and Russian officials from whom the bank sought business, the agency said on Thursday.
The Financial Conduct Authority said Thursday it has seen a surge of inquiries about payment protection insurance claims in the weeks leading up to the looming deadline for complaints.
The collapse of minibond provider London Capital & Finance PLC, which left thousands of investors facing huge losses, has put Britain’s financial watchdog in the spotlight over its worst failure as a regulator in recent years.
A Seychelles-based company has sued a wealth manager for $52 million for allegedly failing to repay five loans intended to help fund a redevelopment project in Russia.
Banks in the eurozone will get more time to cover losses from soured loans after the European Central Bank eased rules Thursday following intervention from the European Parliament.