The Financial Reporting Council said Tuesday that it has handed out fines totaling approximately £10 million ($12.5 million) to PwC, EY and a third accounting firm for failures during audits they carried out on London Capital & Finance before the investment company's high-profile collapse.
The Financial Reporting Council said Tuesday that it has handed out fines totaling approximately £10 million ($12.5 million) to PwC, EY and a third accounting firm for failures during audits they carried out on London Capital & Finance before the investment company's high-profile collapse.
A court has found that there is "reasonable cause" to suspect that a litigation-funder that backs a $1.34 billion fraud claim from a collapsed Russian bank against its former owner is controlled by individuals sanctioned in the U.K.
A businessman's family took its fight with a UAE bank to Britain's highest court Tuesday over an alleged £19 million ($24 million) debt, arguing that the lender should not be allowed to collect on debts he says are illegitimate and a result of fraud.
The Financial Conduct Authority has fined the former chief executive of a London-based investment firm for misleading clients about cash held by the group and handed him a ban, according to a statement published Tuesday.
A parliamentary committee urged the financial watchdogs on Wednesday to review their approach to helping small and midsized businesses gain access to money, arguing that banks are making it "needlessly tougher" to take out loans and unfairly closing accounts of legitimate companies.
Sustained improvements in funding levels for private sector pensions in the U.K. means that many defined benefit schemes are considering stopping contributions from sponsors to avoid overfunding, PwC has said.
The European Union's markets watchdog called Tuesday for market views on whether to expand the range of assets in which the most widely used type of investment fund can legally invest, to include crypto-assets as well as risky shares and bonds.
Kingsley Napley LLP has hired a partner from Deloitte LLP as it seeks to expand its corporate practice and its focus on mergers and acquisitions despite the slowdown in the U.K. deals market.
