Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.
Goldman Sachs Group Inc. has filed an appeal at the Court of Justice of the European Union as it seeks to overturn a lower court’s decision to uphold a €37.3 million ($42.5 million) fine imposed by European antitrust watchdogs over involvement by a former affiliate in a power cable cartel.
The European Court of Justice ruled on Monday that Britain can unilaterally reverse the process of leaving the European Union, boosting a campaign to stop Brexit with a second referendum if Parliament remains deadlocked over the withdrawal agreement now on offer.
The total value of fines handed out by the Financial Conduct Authority has plummeted 88 percent in 12 months, new data revealed on Monday, as the U.K. regulator eased off on huge penalties for corporations and focused instead on individual wrongdoing.
The collapse of the trial of two former Tesco directors accused of fraud and false accounting by the Serious Fraud Office is the latest blow for the white collar crime agency and calls into question its dual strategy of pursuing deferred prosecution agreements with companies and criminal prosecutions of individuals, attorneys say.
The securities arm of BNP Paribas has rejected in new court documents a former tenant’s argument that a one-off payment it made to the financial firm revoked its commitments to completely clear out a property it was leasing.