Top Stories

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  Regulators Cut Burden On Senior Managers In Rule Changes

  By Alex Davidson

  The Financial Conduct Authority and Prudential Regulatory Authority set out on Wednesday finalized reforms to th...(read more)

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  SFO Looks Toward Technology, AI Overhaul After Ephgrave

  By Christopher Crosby

  The goal of the Serious Fraud Office to accelerate its investigations through intelligence-gathering and technol...(read more)

• Nokia Fights English Court's Jurisdiction To Hear RAND Claim

  By Alex Baldwin

  Nokia told the Court of Appeal on Wednesday that the English courts have no business setting terms to license its suite of video-codec patents to Acer and Asus, marking the latest jurisdictional spat over standard-essential patents to reach the appellate court.

• Lenders Say Group Motor Finance Case Should Be Split Up

  By Ronan Barnard

  Several car finance providers sought on Wednesday to overturn a ruling that allows more than 5,000 customers to bring claims against them as a group, arguing at the Court of Appeal that they should be forced to bring the claims individually.

• LC&F Solicitor Banned For Backdating Docs To Mislead FCA

  By Christopher Crosby

  A solicitor found to have abetted a Ponzi scheme that siphoned off millions of pounds from British investors was banned from practicing on Wednesday after a disciplinary tribunal found that he had backdated documents to mislead auditors and regulators.

• FCA Leads 1st Raids On Illegal Crypto Traders

  By Alex Davidson

  The Financial Conduct Authority said Wednesday that it has led its first operation with other enforcement agencies to disrupt illegal peer-to-peer cryptocurrency trading in locations across London.

• FCA Faces Challenge Over Motor Finance Redress Formula

  By Eddie Beaver

  A consumer organization said Wednesday that it will bring a legal challenge to review how the Financial Conduct Authority's £7.5 billion ($10 billion) motor finance redress system is calculated, the first time such a program has been tested.

• SFO Arrests 4 In Fraud Probe Into £4B Gov't Energy Scheme

  By Christopher Crosby

  The Serious Fraud Office said it arrested four people on Wednesday in an investigation into a £4 billion ($5.4 billion) government-backed scheme designed to cut fuel poverty and slash carbon emissions.

• Insurers Win Landmark Case Over COVID Grant Deductions

  By Martin Croucher

  Insurers were right to deduct the value of the government support that companies received during the COVID-19 pandemic from successful claims for business interruption, Britain's top court ruled Wednesday.

• Microsoft Must Face £1.7B Server License Abuse Class Action

  By Jared Foretek

  A London antitrust tribunal cleared the way for a collective action on behalf of 59,000 businesses to proceed against Microsoft for its alleged abuse of dominance in cloud computing that cost the businesses £1.7 billion ($2.3 billion) since 2018, rejecting Microsoft's bid to split the class and crediting regulators' finding that the company's practice disadvantaged competitors.

• EU Adopts Anti-Corruption Law With 5% Turnover Fines

  By Alex Davidson

  The European Union gave the final go-ahead Tuesday to a new directive on combating corruption, with fines of up to 5% of world turnover or €40 million ($47 million), adding a potential aggravating factor if offenders are banks or law firms.

• SRA Fights Axiom Ince's £65M Fraud Oversight Claim

  By Hanna Vioque

  The Solicitors Regulation Authority hit back at claims from the now-defunct Axiom Ince that it was negligent in failing to spot the firm's leaders' alleged misappropriation of £65 million ($87.7 million) in client money early on.

• Greece Defends Crisis-Era €62B Bond Call At Trial

  By Sophia Dourou

  Greece urged a London court on Tuesday to confirm the validity of its buyback of GDP-linked bonds first issued for €62.4 billion ($73 billion) in 2012 during the country's debt crisis, on the first day of a trial against the bonds' trustee.

• Ex-Oil Execs Say 'Dishonest' Asset Freeze Cost Them $1B

  By Eddie Beaver

  Two former top executives at oil trader Arcadia told a court on Tuesday that a decadelong order freezing their assets in support of a meritless fraud claim prevented them from setting up a business that would have earned them more than $1.1 billion.