City watchdog vows to pursue retrial in collapsed insider trading case June 22, 2022 The UK’s financial watchdog has said it will seek a retrial against two men accused of insider trading, after a jury was unable to reach a verdict last month. The UK’s Financial Conduct Authority (FCA) said it will pursue a retrial against plastics company exec Stuart Bayes and his friend Jonathan Swann. The FCA accused [...]
Insurers calls on government to expand pensions ‘auto-enrolment’ scheme June 21, 2022 The Association of British Insurers (ABI) has called on the government to to expand its pensions “auto-enrolment” scheme, following a review of the policy’s successes since it came into force a decade ago. The ABI said the government should set out plans to expand its auto-enrolment policy, which requires employers to automatically enroll all staff [...]
London solicitors’ body calls on members to join barristers’ strike June 21, 2022 The London criminal solicitors’ trade body has called on its members to back the barristers strike, after criminal barristers voted in favour of plans to stage series of court walkouts, starting from next week. The London Criminal Courts Solicitors’ Association (LCCSA) called on its members to support the barristers strike by joining their colleagues in [...]
Criminal barristers vote to strike over legal aid June 20, 2022 Criminal barristers yesterday voted in favour of plans to strike against the government, following a long-running dispute over legal aid fees. Barristers who work in criminal law are set to stage a series of court walkouts, after 81.5 per cent of the 2,055 barristers who voted in the Criminal Bar Association’s ballot came out in support of [...]
Value of litigation funders’ war chests hits record highs as investors seek to bankroll UK class actions June 20, 2022 THE value of UK litigation funders “war chests” has hit record highs of £2.2bn, as investors are increasingly bankrolling class-action lawsuits in a bid for higher returns. The value of assets held by third-party litigation funders, for use in bankrolling cases, has increased ten-fold over the past decade, having doubled in the past three [...]
UK watchdog met with BNP Paribas’ HR team over handling of sexual discrimination complaint June 20, 2022 FRENCH Bank BNP Paribas came under active scrutiny from the UK’s financial watchdog over its alleged mishandling of complaints from one of its brokers that she was subject to years of sexual discrimination and bullying at the firm’s London offices. The UK’s Financial Conduct Authority (FCA) held a series of meeting with senior members of [...]
Elite Magic Circle law firm lets lawyers bring dogs to the office June 19, 2022 Slaughter and May’s new managing partner is set to let lawyers bring their dogs into the London offices of the elite City firm. Deborah Finkler – who took up her new role as Slaughter and May’s first ever female managing partner last month – is set to hold the Magic Circle firm’s first ever ‘Bring [...]
New audit watchdog chair pledges tougher rules for company executives June 16, 2022 The new chair of the UK’s audit watchdog has vowed to make company directors accountable for corporate accounting scandals, in his first public speech as head of the Financial Reporting Council (FRC). FRC chair Sir Jan du Plessis said the government’s decision to water down plans for a British version of the USA’s “Sarbanes-Oxley [...]
Raab says scrapping Human Rights Act will let government send migrants to Rwanda June 16, 2022 Justice secretary Dominic Raab has said scrapping the Human Rights Act will allow the government to begin successfully sending asylum seekers to Rwanda. Speaking to the BBC, Raab blamed the UK’s Human Rights Act (HRA) 1998 for blocking this week’s Rwanda flight, as he said the government’s plans to replace the HRA with a new [...]
Apple to face £768m lawsuit over claims iPhone update slowed down devices June 16, 2022 Apple is set to face a £768m class action lawsuit over claims it misled iPhone users into downloading updates that slowed old iPhones down. Campaigner and consumer champion Justin Gutmann has filed a claim to the competition appeals tribunal, seeking around £768m in damages for up to 25m British iPhone owners. The lawsuit comes after [...]