The U.K.’s Competition Appeal Tribunal put the brakes on a £14 billion ($17.2 billion) consumer antitrust suit against MasterCard over swipe fees on Friday, ruling that the suit cannot proceed as a class action.
After a global regulatory forum announced tentative new capital requirements for the world’s biggest insurance groups on Friday, the U.K.’s leading trade association quickly raised concerns about the impact of this latest regulatory package, dismissing it as unfit for purpose.
The U.K. government announced on Friday that Lady Brenda Hale has been appointed the new president of the Supreme Court, making her the first female to fill the position of the U.K.’s most senior judge.
In overturning two traders' convictions for rigging a global financial benchmark, the Second Circuit handed the U.S. Department of Justice a major defeat that cross-border practitioners say creates an obstacle in joint U.S. enforcement cases.
A U.S. businessman who bought up assets from former Russian oil giant Yukos Oil Co. lost his bid Thursday to stop financial services units of the company from suing him in the U.K. when London’s High Court ruled he was subject to English legal jurisdiction.
The U.K. Treasury released details Thursday of a new regulatory and tax regime to help Britain break into the surging global trade in insurance-linked securities, which could be worth £87 billion ($113 billion) by 2019.