Victims of "push-payment" fraud will be able to complain to the payment services provider that received their money under new rules published by the Financial Conduct Authority on Friday.
The U.K.'s financial watchdog said Friday it has fined a veteran investment adviser £20,000 ($25,000) and banned her from serving as a company director after she allegedly sought employment with an asset manager even as she steered clients to the firm.
The European Union’s General Court has refused to grant millions of euros in damages to a state-owned Iranian insurer after its assets were frozen under nuclear sanctions against Tehran, handing victory to the European Council.
The Bank of England said Friday it has tightened its expenses regime after two senior regulatory experts, one of them a former vice chairman of the U.S. Federal Reserve, angered MPs by racking up £390,000 ($490,000) on travel costs over two and a half years.
The European Council has formally told the U.K. that its Brexit withdrawal agreement is not open to renegotiation even though a majority of British lawmakers rejected the package, increasing the odds of a no-deal departure from the bloc or a postponement.
Two Senate Democrats called for a bipartisan investigation into Deutsche Bank AG's compliance with federal anti-money laundering laws and its correspondent banking operations in a letter to their colleagues in the Senate Banking Committee on Thursday, citing German authorities' recent raid on the bank and its "history of regulatory problems."
The government of Nigeria filed a $1.1 billion lawsuit against Royal Dutch Shell PLC, Italian oil company Eni SpA and other companies in London's High Court Thursday over a 2011 oil deal that is at the center of allegations of corruption.
Three London men have been sentenced to hefty prison time for bilking the likes of American Express and Barclaycard out of £1 million ($1.27 million) in a fake credit application scheme known as short firm fraud, the police said.
A British judge on Thursday upheld arbitration awards forcing a Brazilian entity whose owner was convicted of bribery in connection with the Operation Car Wash scandal to return consulting fees paid by a Marshall Islands drilling contractor whose business relationships imploded as a result of the scheme.
A new initiative requiring banks to alert the police when someone tries to access an unusually large amount of money has led to 336 arrests, the head of a banking industry group has said.
This year brought many major policy developments that affected insurers, with the European Union's stringent data security rules spurring demand for cyber insurance and U.S. regulators ending an era by rescinding Prudential's designation as a systemically important financial institution, leaving no nonbank firms with the controversial tag. Here, Law360 looks back at the biggest regulatory and legislative developments that impacted insurers in 2018.
The European Commission has released two guidances intended to make it easier for companies involved in antitrust proceedings to wade through the process of redacting sensitive documents, suggesting the use of “confidentiality rings” for sharing such information.
The U.K.’s competition regulator on Thursday said a pair of British construction companies have admitted to engaging in a cartel to fix prices for precast concrete drainage products, with an investigation pending against a third alleged co-conspirator.
The U.K.'s pensions watchdog on Thursday warned pension scheme trustees they must check whether they fall under new master trust legislation to avoid running afoul of the law once the March deadline to apply for authorization passes.
The European Banking Authority has published rules that will allow financial firms across the bloc to identify whether their securitization products are eligible for relaxed capital holdings, ahead of a European Union framework taking force in January.
A Swiss financial services worker who was nabbed in Algeria on U.S. fraud charges and spent a year in a packed and filthy jail while awaiting extradition was sentenced to no additional prison time by a Manhattan federal judge on Wednesday.
Britain’s antitrust watchdog said Wednesday that it will introduce reforms to the sector responsible for managing £1.6 trillion ($2 trillion) worth of pensions after it identified problems with competition during an extensive probe.
A London jury failed to reach a verdict Wednesday in the trial of a former UBS AG compliance officer and her day-trader friend accused of making £1.4 million ($1.76 million) by trading on inside information on potential takeover deals, in a case the British financial watchdog quickly said it planned to retry.
The U.K.'s auditing watchdog on Wednesday issued new standards for scrutinizing a bank's expected financial losses, saying the rules take into account the growing importance and complexity of estimates in financial statements.
Prime Minister Theresa May survived a coup attempt by rebel lawmakers within her Conservative Party late Wednesday, winning a no-confidence vote by a sufficiently large margin to allow her to continue pushing to get a draft Brexit withdrawal agreement through a hostile Parliament.