The U.K.'s City watchdog said Wednesday that it has hit Starling Bank Ltd. with a £28.9 million ($38.4 million) fine over failures to screen for financial sanctions and for breaching a ban on opening accounts for high-risk clients.
The U.K.'s City watchdog said Wednesday that it has hit Starling Bank Ltd. with a £28.9 million ($38.4 million) fine over failures to screen for financial sanctions and for breaching a ban on opening accounts for high-risk clients.
The Financial Conduct Authority can resume its bid to impose a redress scheme of more than $700 million for investors of hedge fund BlueCrest Capital Management, an appeals court said Wednesday, ruling that a tribunal wrongly held that the regulator did not have that power.
There is "no scope" for major insurers to refuse billion-dollar claims for planes seized by Russian airlines, lawyers for major lessor Aercap told the High Court on Wednesday on the first day of a trial that is likely to be a test case for other claims.
The son of an Emirati royal accused of embezzling more than $1 billion from his dead father cannot stop his brothers from seeking to enforce a UAE judgment in England that orders him to pay them about 2.6 billion dirham ($718 million) as part of their "legitimate share" of the inheritance.
Quinn Emanuel Urquhart & Sullivan LLP told a court Wednesday that the source of a report suggesting that Russian industrialist Oleg Deripaska misled arbitrators during a dispute with a former business partner was privileged information.
The European General Court on Wednesday dismissed an attempt by French and Belgian lawyers to overturn prohibitions on providing legal advice to Russia, clarifying that the ban only applies when the advice has no link to judicial proceedings.
The U.K.’s overseas funds regime is now open for applications, providing a simplified way of offering a foreign fund to U.K. retail investors, and the Financial Conduct Authority's clear policy statement on implementation should ease the transition process from the existing scheme, say lawyers at Dechert.
