Bank of New York Mellon lost its fight Thursday to escape a claim from Allen Overy Shearman Sterling alleging that the lender caused Nationwide Building Society to face a £93 million ($109 million) tax bill by bungling the issuance of notes.
Bank of New York Mellon lost its fight Thursday to escape a claim from Allen Overy Shearman Sterling alleging that the lender caused Nationwide Building Society to face a £93 million ($109 million) tax bill by bungling the issuance of notes.
Prosecutors dismissed a former Janus Henderson analyst's claim he had not disclosed trades allegedly made with insider information because he regarded his employer's trading compliance policies to be "window dressing," saying on Thursday that the "simple explanation" was that he had wished to keep them secret.
A parliamentary committee will quiz pensions chiefs as part of a wider probe into whether the £3 trillion ($4 trillion) retirement savings sector can invest more in U.K. assets to better support the country's economic growth.
Crypto-asset company BTCMining has been shut down by a court in England after complaints from across the globe that it did not pay out their returns, according to the Insolvency Service.
The government has confirmed that there are still plans to transform the Pension Protection Fund into a public sector consolidator of retirement savings schemes.
Companies offering international money remittance and cross-border payment services often fail to explain their fees clearly and should consider making improvements under the Consumer Duty, the Financial Conduct Authority said Thursday.
While recent arguments before the U.K. Supreme Court in a consumer test case on motor finance commissions reveal the court’s take on several points argued, application of the upcoming decision will be both nuanced and fact-sensitive, so market participants wishing to prepare do not have a simple task, says Tom Grodecki at Cadwalader.
