The Financial Conduct Authority is poised to crack down in supervision and enforcement on industry-wide failings in the use of artificial intelligence of a type it has detected at more than 200 financial services companies, lawyers have warned.
The Financial Conduct Authority is poised to crack down in supervision and enforcement on industry-wide failings in the use of artificial intelligence of a type it has detected at more than 200 financial services companies, lawyers have warned.
BNP Paribas urged a London judge Tuesday to enforce a debt of more than 436 million United Arab Emirates dirhams ($118.7 million) that is allegedly owed by an oil company owner under an Emirati judgment, arguing that he does not have a real chance of successfully defending against its claim.
Two Chinese investment companies have sued a developer for £2.4 million ($3.2 million), alleging that he defaulted on a repayment plan brokered over WeChat after his property business fell into liquidation.
Invoice finance lender 4Syte has sued fellow invoice finance provider eCapital for £4 million ($5.3 million), alleging it deliberately concealed fraudulent activity by six borrowers before they were transferred to 4Syte.
The Delaware Chancery Court has refused to toss a suit accusing the London Stock Exchange Group PLC and a few of its subsidiaries of luring MayStreet Inc.'s co-founder and former CEO into selling the company with false promises of growth and then failing to honor post-closing obligations under the merger contract.
Chancellor of the Exchequer John Healey has rejected calls from other Labour figures to raise capital gains tax in the U.K.'s upcoming budget, according to a newspaper report, in favor of taxes on banks.
Revolut has secured a cryptocurrency services license in the British overseas territory of Gibraltar, as the fintech seeks to expand its digital asset business into additional international markets.
A minority stakeholder in Italian pharmaceutical giant Recordati SpA on Tuesday urged fellow shareholders not to accept a consortium's €10.5 billion ($11.8 billion) takeover offer, arguing the bid falls "far short" of the company's real value.
The Court of Appeal's recent decision in Houssein v. London Credit Ltd. offers guidance for borrowers and lenders on determining what is required to stop contractual interest from accruing on a secured loan and whether a default interest provision amounts to an unenforceable penalty, say lawyers at Reed Smith.
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