FCA Outlines Next Steps To Stop Financial Crime At AGM

By Alex Davidson

The Financial Conduct Authority outlined its next steps to prevent financial crime at its annual general meeting on Thursday, including further investment in its data-related technology and demands for higher level anti-fraud measures from tech giants such as Meta.

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Banks Warn Of Extra Hit Over Car Loan Finance Scandal

By Tom Fish

Lloyds and Close Brothers both warned on Thursday that they are reviewing whether they need to allocate extra cash to compensate U.K. motor finance customers, days after the City watchdog disclosed a planned redress program for the mis-selling scandal.

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BAE Suppliers Deny Selling Faulty Parts In £11.5M M&A Row

By William Janes

The former owners of an aerospace component maker that supplied BAE Systems has denied knowingly selling faulty parts as it fights the new owner's claim for an £11.5 million ($15.3 million) refund after an acquisition.

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Hip-Hop DJ Tim Westwood Charged With Rape, Sexual Assault

By Ronan Barnard

The Crown Prosecution Service said Thursday that it had approved 15 charges of sexual offenses against U.K. hip-hop DJ and broadcaster Tim Westwood spanning over three decades and involving seven women.

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Richard Desmond Wants £1.3B Over National Lottery Award

By Ronan Barnard

A group owned by former publishing magnate Richard Desmond alleged Thursday at the trial over its £1.3 billion ($1.7 billion) claim that the U.K. gambling regulator had made "manifest errors" in the process of awarding the National Lottery license.

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Dutch Gov't Summons Fund Suspected Of €200M Tax Evasion

By Kevin Pinner

Dutch prosecutors have summoned a foreign pension fund that they suspect evaded €200 million ($231 million) in taxes on dividends through fraudulent refund claims, the government said Thursday.

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Clearview AI's £7.5M GDPR Fine Faces Renewed Scrutiny

By Eddie Beaver

A London tribunal has decided that a lower court was wrong to find that the U.K.'s data protection regulator lacked the power to fine Clearview AI Inc. £7.5 million ($10 million) over its collection of images of U.K. citizens from social media without their knowledge.

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What Key EU Data Ruling Means For Cross-Border Transfers

The European Union Court of Justice’s recent judgment in European Data Protection Supervisor v. Single Resolution Board takes a recipient-specific approach concerning pseudonymized information, but financial services firms making international transfers should follow the draft EU Data Protection Board guidelines’ current stricter approach, says Nathalie Moreno at Kennedys Law.

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