SFO Charges Exec's Daughter For Failing To Aid ENRC Probe
British prosecutors on Friday charged the daughter of the former Eurasian Natural Resources Corp. chairman with failing to produce documents in connection with the Serious Fraud Office's long-running corruption investigation into a Kazakh mining giant.
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The U.K.'s Supreme Court has quashed a request by an Iranian bank to reverse a decision requiring it to hand over an underacted customer list as part of its $1.6 billion lawsuit against the British Treasury.
Blocking investors for withdrawing cash from funds to stop the sale of assets could lead to an “economic earthquake,” a senior regulator has warned, as the saga surrounding Neil Woodford's suspended fund rumbles on.
The deterioration of an equity fund run by one of Britain’s most high-profile stock pickers has prompted the Financial Conduct Authority to consider reviewing how investments in illiquid assets are regulated amid criticism that the financial watchdog failed to react to the unfolding crisis.
A London judge on Friday said a Cyprus-based cancer treatment center owes a Dutch private equity fund in excess of €4 million ($4.5 million) lent to expand the business, saying the center can't withhold repayment over differences in its direction.
European Union governments said Friday that they have given the green light to rules aimed at making it easier for asset managers to sell funds to investors across Europe, as well as a separate regulation creating a blocwide pensions regime helping savers that move between member states.
U.K. Home Secretary Sajid Javid has rubber-stamped a request to extradite WikiLeaks founder Julian Assange to the U.S. ahead of a hearing at Westminster Magistrates’ Court on Friday.
Britain’s financial watchdog has defended its decision not to act against senior managers at Royal Bank of Scotland over the activities of its discredited restructuring group, saying Thursday it had found no evidence that staff had been “dishonest or lacking in integrity."
Some of the largest insurers in the U.K. market, including Allianz, AXA and RSA, said on Thursday that they have started pooling information on suspected fraudsters to help them avoid scams, and chip away at the £2 billion ($2.5 billion) annual cost of fraud.