Financial services companies should be ready to engage with consumers when faced with enforcement action, in a lesson from a test case of the reasoning behind a Financial Conduct Authority decision to "name and shame" a company that could encourage bolder naming actions, lawyers said.
Financial services companies should be ready to engage with consumers when faced with enforcement action, in a lesson from a test case of the reasoning behind a Financial Conduct Authority decision to "name and shame" a company that could encourage bolder naming actions, lawyers said.
The U.K. government has said it intends to give the Financial Conduct Authority broad powers to enforce anti-money laundering and counter-terrorism regulations against the legal sector, including the ability to issue fines and bans mirroring those imposed against financial firms.
A former Commerzbank analyst was sentenced to more than a year in prison by a London judge Friday for making false allegations of discrimination and sexual harassment in an employment tribunal against his former colleague.
The Financial Conduct Authority said Monday that many products claiming to build financial credit fail to deliver meaningful improvements to U.K. consumers' scores and may even expose financially vulnerable users to harm.
This past week in London has seen Big Technologies file fresh claims against its ousted chief executive, West Ham United FC sue Arthur J. Gallagher Insurance for breach of duty, and RSM UK face a new claim over a company's administration. Here, Law360 looks at these and other new claims in the U.K.
A private equity firm's special purpose vehicle has alleged that a French restaurant manager lied about his previous work experience in order to secure a €9.3 million ($10.8 million) investment for a botched venture to launch a food chain.
Global financial market infrastructures may be unable to weather substantial shocks to business, such as those stemming from operations, technology failures, or legal issues, a joint report warned Friday.
Aviva on Friday called for the driving test to teach avoiding scams, and that social media platforms should only allow insurance adverts by brokers and insurers that are registered with the financial watchdog, amid concerns over sales of fake policies.
Almost half of what European retail investors pay to invest in mutual funds goes to distributors rather than fund managers, partly because of "opaque" practices, the bloc's financial watchdog has said in its first report assessing fund costs.
If implemented, recent amendments to the European Union securitization framework are expected to have an unambiguously positive effect on significant risk transfer markets, providing greater consistency and necessary flexibility, say lawyers at McDermott.
