Firms Hit Lloyds Unit With Libor Swaps Misselling Claim
A unit of Lloyds Banking Group PLC has been hit with an interest rate swaps misselling claim, filed at London’s High Court by two property investment and development firms that allege the bank made false claims about Libor while it was manipulating the rate.
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The U.K. government announced plans on Sunday to ban private pensions cold calling, as new data revealed that scammers tricked savers out of nearly £5 million ($6.4 million) in the first five months of the year.
The last week has seen the European Investment Bank sue the Syrian government, Bank of India bring a commercial contract claim against a Turkish mining firm, and a claim targeting insurance firm QBE. Here, Law360 looks at those and other new claims in the U.K.
Ninety-eight percent of the U.K. and Ireland’s biggest nonlife insurers hold sufficient capital to meet their solvency capital requirements under the European Union’s Solvency II rulebook, a financial consultancy said Thursday.
Britain's pensions regulator and ITV PLC are preparing for a legal battle over whether the watchdog can force the broadcaster to financially support a pension scheme that is running a deficit exceeding £90 million ($116 million), the parties said on Friday.
The Financial Conduct Authority has stepped up preparations for supervising recognized investment exchanges, benchmark administrators and data reporting services providers to meet a new requirement under wide-ranging market reforms that enter into force next year.