U.K. lawmakers never intended to make the government seek their permission before starting the process to quit the European Union, despite having several opportunities to demand this, lawyers acting for the government argued in the High Court on Monday.
The U.K.’s top antitrust agency has ordered Intercontinental Exchange to sell Trayport, the trading software maker acquired last December, saying Monday the union could damage the ability of rival securities exchanges to compete.
Transitional regulatory arrangements are essential to avoid a “cliff edge” situation for banks after the U.K. begins the process of leaving the EU by the end of March, an independent think tank said in a study issued Monday.
Case law and statutes stretching back four centuries could prove to be unexpected allies for a U.K. financial services sector hoping to retain access to the European Union’s single market as Britain prepares to exit the 28-nation bloc.
Banks aiding tax evasion, even unwittingly, may face criminal charges under aggressive new laws unveiled Thursday by the British government, lawyers warned.
European lawmakers must urgently address flaws in a package of reforms around the information financial firms must disclose to potential clients regarding packaged retail and insurance-based investment products, investor and industry groups said Friday.
Financial regulators struggling to keep pace with new technologies in the marketplace now must catch up with a new innovation predicted to irrevocably alter wealth management, experts say: robot investment advisers.
U.K. futures trader Navinder Sarao on Friday was refused a final appeal against an extradition order to face U.S. charges that he helped trigger the 2010 Wall Street "flash crash" with bogus trades, according to the High Court.
The U.K.'s highest court on Monday will weigh whether Lehman Brothers' European creditors who claim they were underpaid because of shifting foreign exchange rates should get first dibs at billions of dollars in the bankrupt bank's surplus funds.
Europe’s top securities regulator on Friday updated guidance on how alternative investment managers are paid when part of a wider banking group, and provided clarification on how managers of investment vehicles are remunerated.
The U.K.’s high court on Friday ruled in favor of Goldman Sachs Group Inc. in a dispute brought by Libya’s sovereign wealth fund over trades carried out in 2008 that resulted in a $1.2 billion loss for the fund.
Britain’s Financial Conduct Authority is investigating pension providers who may have given bad advice to tens of thousands of customers in poor health, leading to smaller retirement payments than they were entitled to, the watchdog said Friday.
As fraudsters grow more sophisticated, financial technology advances and watchdogs should consider whether consumers need greater protection from crime, the managing director of the U.K.’s Payment Systems Regulator said Thursday.
The Financial Conduct Authority's no-nonsense approach to tackling money laundering is about to ramp up, lawyers warn, pointing to a multimillion-dollar fine Britain's financial regulator dished out this week as a sign of things to come.
The European Union needs to be more rigorous in enforcing existing rules to combat money laundering and terrorist financing in the wake of the Panama Papers release, regulators told the European Parliament Thursday.
The Financial Conduct Authority pushed the U.K. Supreme Court Thursday not to force it to play detective to ensure unnamed bankers can't be identified from enforcement decisions against institutions, in a dispute over a JPMorgan Chase fine tied to $6 billion in "London Whale" losses.
The U.K. may have to enter into its own complex Privacy Shield pact with the U.S. and Europe because of the historic vote to exit the European Union, causing new headaches for multinational financial services firms dealing in global data flows.
The British government’s plans to begin leaving the European Union by March 2017 without the express permission of Parliament is an unlawful violation of the nation’s rights, lawyers argued in the U.K.’s high court on Thursday.
Scotland's government next week will introduce a new draft bill setting out preparations for a second vote on Scottish independence to be held before the U.K. leaves the European Union and its single market, Scottish First Minister Nicola Sturgeon said Thursday.
Banks could have up to five years to prepare for how new accounting rules will alter the amount of capital they need to hold for regulatory purposes, the global forum for banking regulators said Thursday.