A London judge has paved the way for a representative of the British Airlines pensions scheme to cover his legal costs at an upcoming hearing where the airline is expected to ask the court to sign off on a settlement ending a multimillion-pound dispute over its pension scheme contributions, according to court documents.
Lloyd’s of London warned on Thursday that it will consider taking disciplinary action against employees who are intoxicated at work if alcohol consumption leads to unprofessional conduct, as the specialist insurance market grapples with reports of bullying and sexual harassment.
Britain’s pensions regulator is putting together proposals that would force trustees to take a longer-term view when managing funding and investment strategies for retirement funds, the watchdog said Thursday.
Lloyd’s of London announced Thursday it has invested in an artificial intelligence startup to ease small-business owners’ access to liability insurance, as the specialty market ramps up plans to modernize its 330-year-old business.
The Financial Conduct Authority said Thursday it plans to punish three now-defunct pensions advisers and their former managers with a combined fine of £1.3 million ($1.7 million) for outsourcing oversight of retirement plans to companies that pushed thousands of savers into risky investments.
The president and co-founder of Delos Dispute Resolution has left his post at Dechert (Paris) LLP to work at the independent arbitration institution full time as it gears up to open its first hearing center in London, he told Law360 on Wednesday.
An Irish company established to provide indemnity reinsurance to Security Life of Denver Insurance Co. under a block of life insurance policies asked a New York bankruptcy court on Tuesday to recognize that it's dealing with a $1.2 billion deficit in foreign liquidation proceedings.
The Financial Conduct Authority said on Wednesday that it is turning to technology to help it review the 500,000 regulatory reports that financial services companies file each year and to ensure the sector consistently complies with its rulebook.
Europe’s insurers on Wednesday urged the European Commission not to narrow the way that it designates financial products as environmentally friendly, to avoid a situation where only a slim minority of companies are able to secure their green credentials.
Britain's pensions regulator said Wednesday it has fined the trustees managing numerous McDonald's retirement plans £103,750 ($135,000) for failing to audit its accounts and omitting details on how much members can expect to save, the first-ever penalties for such breaches.
A parliamentary committee criticized the government on Wednesday for failing to create a register of individuals linked to corruption to help reduce the amount of dirty money flowing through Britain's financial system.
An ex-Autonomy Corp. executive who cut a deal with the U.S. government to testify against his former boss decided to give evidence to save his own skin, lawyers representing Autonomy founder Mike Lynch said Tuesday at the biggest fraud trial in UK history.
The Solicitors Regulation Authority has referred 26 U.K. law firms for disciplinary action after finding they are not doing enough to prevent money laundering, the watchdog said on Tuesday as it warned that some are falling “seriously short” of required standards.
Luxembourg’s insurance market has more than trebled since the start of 2018, the country’s regulator said Monday, attributing this in part to the flock of firms setting up shop abroad following the U.K.’s decision to leave Europe.
The U.K.’s Information Commissioner’s Office on Tuesday hit a company that manages consumers' claims over missold payment protection insurance with a £120,000 ($156,700) fine for sending 3.5 million text messages advertising its services without permission.
Insurance companies in Europe have urged their central regulator not to extend its oversight of the industry, warning the supervisor that it risks exceeding the brief handed to it by the European Commission.
The fear of crushing fines under Europe’s General Data Protection Regulation has been enough to make businesses finally pay attention to privacy — but some level of enforcement is imminent, the new regime's top official tells Law360.
The past week has seen a major ice cream distributor in the United Arab Emirates sue Maersk, Ferrari hit a trio of accountants with a fresh claim, and insurer Chubb sue actor Kevin Spacey in the High Court.
Europe’s top markets and insurance regulators said Friday they have proposed amendments to the bloc’s financial regulations that will push EU banks, investment firms and insurers to consider the impact of sustainable finance when offering products to their customers.
A U.K. bedding weaver is owed an additional £1.39 million ($1.8 million) insurance payment to cover destroyed machinery and parts after its factory in eastern England burned down eight years ago, a London judge ruled Friday.
Medical centers and their faculty matter to the practice of medicine. Law schools and their faculty do not matter to the practice of law, says J.B. Heaton of J.B. Heaton PC.
Earlier this month, a California federal court denied discovery into the identification of third-party funders with a financial interest in the outcome of an underlying patent infringement action. This decision in MLC v. Micron follows a long line of well-reasoned precedent across U.S. federal courts, say Matthew Harrison and Sarah Jacobson of Bentham IMF.
Worldwide freezing orders, which preserve a respondent's assets until the outcome of the substantive case, are an important weapon in the arsenal of a commercial litigant. However, as FSDEA v. Dos Santos demonstrates, courts lay heavy obligations upon WFO applicants, says Nicola McKinney of Grosvenor Law Ltd.
Recent developments in the United Kingdom emphasize the importance of companies implementing cybersecurity measures proactively both to prevent incidents and to argue in mitigation when, not if, the company does suffer a data breach, say Guillermo Christensen of Ice Miller LLP and Anupreet Amole of Brown Rudnick LLP.
Two recent cases in the Eastern Caribbean Court of Appeal have presented British Virgin Island courts an opportunity to develop a local jurisprudence regarding the BVI Business Companies Act and provide guidance on how the proper purpose test is to be applied, says Rosalind Nicholson of Walkers Global.
As the deadline for a hard Brexit draws ever closer, financial firms operating in the United Kingdom or European Union must consider how possible outcomes will impact transactions and contractual relationships, and take steps to mitigate business interruptions, say Gilles Kolifrath and Linda Sharkey of Kramer Levin Naftalis & Frankel LLP.
The coming year looks to be an interesting one for the U.K. Serious Fraud Office. With new Director Lisa Osofsky firmly in post, expectations are high that she will shake things up in the next few months, say Anna Gaudoin and Alison Geary of WilmerHale.
The recent data breach scandal involving the Leave.EU campaign shows that the U.K. Privacy and Electronic Communications Regulations is often overlooked by businesses, says Alexander Edwards of Rosling King LLP.
With autonomous vehicles expected to hit the streets of the United Kingdom soon, manufacturers, insurers and their legal counsel face the challenge of determining how the U.K.'s product liability laws will be applied to questions of negligence, evidence and contracts raised by self-driving vehicles, says Michaela Herron of Bristows LLP.
Autonomous vehicles present a number of challenges to the United Kingdom's product liability legal framework, especially with regard to the vehicles' heavy reliance on software, consumers' expectations of safety and the need for compliance with varying local traffic rules, says Michaela Herron of Bristows LLP.