Top Stories

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  Taylor Rose Fined £160K For Client Account Breaches

  By Jamie Lennox

  The Solicitors Regulation Authority said Thursday that it has fined Taylor Rose £160,100 ($216,000) for breachin...(read more)

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  Apple Cites Top Court Ruling In Bid To Ax £785M Class Action

  By Sophia Dourou

  Apple urged the Competition Appeal Tribunal on Wednesday to throw out a £785 million ($1 billion) class action b...(read more)

• Gov't Pulls Plug On Capita's Royal Mail Pensions Contract

  By Najiyya Budaly

  The government has canceled Capita PLC's contract to administer the statutory pension plan of Royal Mail because of delays by the outsourcer that mirrored its management of the civil service retirement plans.

• 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.

• 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 the Senior Managers and Certification Regime that will reduce costs and increase flexibility for businesses.

• 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 technology signals that the white-collar agency's new interim director will persist with plans put in place by predecessor Nick Ephgrave after his surprise exit earlier in April.

• 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.