City watchdog hits Ghana International Bank with £5.8m fine over money laundering failures June 23, 2022 The UK’s financial watchdog has fined Ghana International Bank £5.8m over its poor anti-money laundering and counter-terrorist financing control measures. The Financial Conduct Authority (FCA) fined the London bank over its failure to carry out proper checks for money laundering. The watchdog said that while there is no evidence any money laundering actually took place, [...]
Supreme Court ruling paves way for 5G coverage expansion in the UK June 22, 2022 The Supreme Court handed down a fresh ruling this morning that makes it easier for telecommunications firms to deploy 5G infrastructure in the UK.
Lawyers say ‘Bill of Rights’ will make government less accountable June 22, 2022 Lawyers have hit out at the government’s plans to scrap the Human Rights Act, over claims it is an attack on the rule of law that risks undermining Britain’s international reputation. Law Society president I. Stephanie Boyce said the plans risk ruining Britain’s reputation “with trade partners, business, and in the international arena,” as [...]
Credit Suisse and Citco face £430m lawsuit over Chelsea property deal that lost Vatican £100m June 22, 2022 The filing of a €500m (£430m) lawsuit against Credit Suisse and Citco over the loss of millions in charitable funds through a Chelsea property deal has led to calls for greater transparency around the “origins of money used to purchase high-value property” in Britain. The calls come after Anglo-Italian financier Raffaele Mincione’s WRM Group filed [...]
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 [...]