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Direct Line Unit Fined £10.6M For Solvency Miscalculation

By Joel Poultney

The Prudential Regulation Authority said on Wednesday that it has fined UK Insurance Ltd. £10.63 million ($14.27 million) for miscalculations that led the insurer to overstate its solvency position to the watchdog and the market.


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Top Stories
  • Sign at the entrance to the Central Criminal Court in London.
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    Legal & General Group PLC said Wednesday it will begin a £1.2 billion ($1.6 billion) shares buyback, the largest in its history, as the British insurer and asset manager moves to return surplus capital to shareholders while reshaping its business.

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  • Google, Epic Games Settle Play Store Fortnite Removal Fight

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    Google has reached a settlement over claims that it engaged in anticompetitive conduct by dropping the popular Fortnite video game from its Play Store after the game's maker, Epic Games, launched its own app payment system.

  • Lawyers March On Parliament To Fight For Jury Trials

    By Tom Fish

    Lawyers marched to Parliament on Tuesday to urge the prime minister to shelve plans to restrict jury trials in England and Wales, warning that it would undermine a fundamental safeguard of the justice system while doing little to reduce delays in courtrooms.

  • UK Publishers To Collectively License Works To AI Developers

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    The Home Office set out on Monday a plan to combat cryptocurrency and investment scams and money laundering by international financial crime groups, and said it will make regulatory changes.

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Trending on Law360 UK

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From The Courtroom

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Expert Analysis

  • Gregg Beechey
    FCA's Investment Regime May Prove A Double-Edged Sword
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  • Kate McKenna
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    The Irish government’s recent proposals to amend and clarify competition and consumer law would allow new investigative powers and g... (read more)
  • Daniel Natoff
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    The recently enforced Property (Digital Assets etc) Act confirms in law that digital assets can be recognized as personal property, ... (read more)
  • Harriet Holmes
    How Gov't AML Supervision Reform Will Affect Law Firms
    In confirming that the Financial Conduct Authority will become the single supervisor for professional services, HM Treasury’s planne... (read more)
  • Read More Expert Analysis

 
 
 

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