Regulators and lawmakers worldwide can no longer dismiss cryptocurrencies as a passing fad and must act to keep digital money from threatening the financial stability of the entire market, a senior European Central Bank official warned on Thursday.
A bus company and its managing director have been sentenced in Britain’s first criminal prosecution for failure to enroll staff on a pension scheme, The Pensions Regulator said on Thursday.
European nations can bar Lloyd’s of London syndicates from bidding for public sector contracts if “unambiguous evidence” shows they failed to write up their tenders independently, the European Union's highest court said Thursday.
American billionaire John P. Calamos Sr. has hit a Dutch investment shop he reportedly co-founded with an Illinois state court suit seeking “immediate repayment” of $42 million in loans, potentially upending an $889 million deal between the onetime partners to purchase a Greek insurance company.
A major lobbying group pushed back Wednesday against proposals from a group of international insurance supervisors that suggest holding insurance companies to the same regulatory standards as banks and other financial services firms.
Five individuals who ran a claims management firm have been disqualified from acting as directors for a total of 28 years after they breached conduct rules and repeatedly failed to repay fees to clients who were due refunds, the U.K. government said Wednesday.
The U.K.'s pensions regulator said Wednesday that it was holding talks with five of the U.K.'s biggest banks over plans to split their retail arms from their riskier investment operations by January 2019.
A director at Olympus Corp. told the U.K. High Court during a hearing in London on Wednesday that he did not believe the company’s former chief executive-turned-whistleblower acted unlawfully when he set up an executive pension plan that is now at the center of a legal dispute with his former employer.
The U.K. Prudential Regulation Authority issued fresh guidance on Wednesday for insurance companies on implementing tough new rules designed to make senior managers personally accountable for misconduct on their watch.
An English law firm defending a court order it won to recover costs from Haven Insurance argued in the U.K. Supreme Court on Tuesday that the insurer compromised the integrity of a personal injury claims portal in a widespread practice that threatens the public interest.
Regulators may need to respond as life insurers shift their risks onto policyholders in an attempt to offset low interest rates, the head of the European Insurance and Occupational Pensions Authority has indicated.
U.S. insurer AIG failed on Tuesday in a court bid to broaden its defense against allegations that it wrongfully denied insurance to a former Olympus chief executive turned whistleblower, who claims he and a former colleague are entitled to indemnity payouts for costs incurred fighting a separate lawsuit filed by his former employer.
Just one in three companies has bought standalone cyber insurance to protect them when Europe’s tough data protection regime takes effect in less than four months, a leading insurance group said on Tuesday.
Three former top executives at Carillion PLC defended themselves when they appeared before a parliamentary committee on Tuesday after criticism of their roles at the U.K. contracting giant, which collapsed in January with an £800 million ($1.1 billion) pension deficit.
Axis Specialty Europe SE has sued a former partner of London law firm Wiggin Osborne Fullerlove over around £600,000 ($840,000) in damages Axis says it wrongly paid out on an insurance claim after the attorney allegedly advanced client payments without authorization.
The European Union’s proposed trade agreement with the U.S. may have stalled, but a draft provision that would have included the financial services sector in the deal could be “a good starting point” for Brexit negotiations, the chief of the U.K.’s industry watchdog said Monday.
Global auditing giant KPMG on Monday said that it is rejecting any further work involving the construction giant Carillion PLC, which collapsed last month with an £800 million ($1.1 billion) pension deficit.
Haven Insurance “did not cheat” Gavin Edmondson Solicitors out of costs when it reached direct settlements with six of the law firm’s clients over road traffic accidents, because the firm was not entitled to costs in the first place, the insurer argued Monday at the U.K.’s highest appeals court.
A London police unit specializing in insurance fraud warned on Monday that the hundreds of reported incidents of “ghost broking” over the last three years are harming the insurance industry by inflating the cost of insurance premiums for motorists.
U.S. insurer AIG suffered a setback in its legal battle with a former Olympus boss turned whistleblower on Monday, when a judge in London tossed the firm's request to inspect documents central to its attempt to avoid paying out for the former chief’s costs as he fights a lawsuit filed by his former employer.
In its most recent petition advocating mandatory disclosure of litigation finance, the U.S. Chamber of Commerce simply rehashes the same arguments from its previous failed efforts to convince the Committee on Rules of Practice and Procedure of the dire implications of undisclosed funding relationships, say members of IMF Bentham Ltd.
Lawyers faced with clients who can’t or won’t listen to their advice must consider that the core of this risky decision may be a person's inability or refusal to relinquish a prime identity in times of uncertainty, say dispute resolution experts Robert Creo and Selina Shultz.
The question isn’t whether automated technology will impact the auto insurance industry, but how big that disruption will be and when that disruption will happen. In this videocast, Eversheds Sutherland partners Kymberly Kochis and Fabian Volz discuss numerous ways the insurance industry will be impacted by automated vehicle technology.
The EU's sweeping General Data Protection Regulation will take effect on May 25, 2018. With so much on the line, data controllers and processors will want to take immediate action to prepare for enforcement. The first step is determining whether the GDPR applies to your organization, say attorneys with Ropes & Gray LLP.
In its Unaoil ruling, the High Court of Justice in England and Wales recently provided a rare insight into the difficulties that companies can face when challenging the basis of a Serious Fraud Office investigation. The stance of the judiciary seems to be in line with authorities and legislators, allowing prosecuting authorities a wide remit of independence with which to investigate financial crimes, say attorneys with Morrison & Foerster LLP.
Despite an increase in engagement with client feedback programs over the last 15 years, law firms — and their clients — have a way to go before realizing the maximum benefits such programs can deliver, says Elizabeth Duffy of Acritas US Inc.
Some of the U.K.'s largest companies are increasingly being targeted by activist investors pushing for corporate change, with a growing support for activism from institutional investors and the general public. Companies must therefore seek to engage in constructive dialogue with activists, say attorneys with Proskauer Rose LLP.
Although the end often comes quickly, law firms do not fail overnight. Randy Evans of Dentons and Elizabeth Whitney of Swiss Re Corporate Solutions review five mistakes that expedite law firm failures.
One of the more obvious Brexit risks is in relation to the enforcement of U.K. judgments in the remaining EU member states. With that in mind, lawyers advising on contracts with exclusive jurisdiction clauses for some part of the U.K. must consider certain responsibilities, says Martin Scanlon of Mason Hayes & Curran.
Despite the common use of contract terms like “efforts” or “endeavors” to commit a party to “try” to accomplish an objective, there has been a fair amount of controversy over the years as to exactly what such an obligation entails. But recent cases confirm that these efforts obligations, however seemingly amorphous, are very much enforceable, says Glenn West of Weil Gotshal & Manges LLP.