A group of major banks accused the Court of Appeal on Tuesday of circumventing Britain's specialist competition tribunal when it allowed a £2.7 billion ($3.5 billion) foreign exchange claim to go ahead against them as an opt-out class action.
A group of major banks accused the Court of Appeal on Tuesday of circumventing Britain's specialist competition tribunal when it allowed a £2.7 billion ($3.5 billion) foreign exchange claim to go ahead against them as an opt-out class action.
Motor finance firms urged the U.K. Supreme Court on Tuesday to overturn findings that car dealers owed a legal duty to act in the interests of their customers, as a landmark hearing that could determine the size of compensation bills begins.
Pension reforms are necessary to ensure that savers can successfully navigate the "risks and complexities" of managing their retirement savings in later life, the Institute for Fiscal Studies warned Tuesday.
Three businessmen have hit back at an investment fund's accusations that they allowed it to issue £11.8 million ($15.2 million) in loans for property developments that it alleged were likely to fail, telling a London court the fund's parent company was responsible.
The European Union's finance watchdogs have called on the European Commission to simplify the rules governing securitizations in a bid to make the market more competitive.
Although forthcoming changes to the U.K.’s short selling regulatory regime represent a welcome relaxation of restrictions and simplification of reporting processes, participants active in both the U.K. and EU markets will need to ensure compliance with two quite different sets of rules, says Ezra Zahabi at Akin.
