Analysis

Mastercard Settlement Shows Court's Active Role In Payouts

By Joanne Faulkner

The final decision by the Competition Appeal Tribunal on who gets what from a £200 million ($270 million) Mastercard settlement shows the willingness of the courts to rewrite distribution plans to ensure that the overall objectives of the collective action regime are met, lawyers say.

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FCA To Update Regulatory Directions For UK Finance Firms

By Tom Fish

The Financial Conduct Authority said Thursday that it will amend and update approximately 11,000 legal requirements, obligations and restrictions for more than 9,000 financial firms in the U.K.

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HSBC Denies Blame For £12M Transfers Tied To Alleged Fraud

By Eddie Beaver

HSBC has accused a corporate client of attempting to hold the bank liable for an alleged fraud committed by the company, denying that it failed to question and block more than £12 million ($16.1 million) in allegedly fraudulent account transfers.

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Accountants Deny Negligence In Kebab Biz Share Deal Fraud

By Eddie Beaver

An accounting firm has denied negligently accepting a fraudulently signed share transfer form that a business director claims cost him his stake in a meat supplier of almost £2.5 million ($3.4 million), arguing that there was "nothing obviously suspicious" about the document.

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Bahamas Businessmen Can't Nix $2.7M Yacht Sale Ruling

By Sophia Dourou

Two Bahamas businessmen can't dodge a $2.7 million debt to a subsidiary of Caterpillar Inc., after the Judicial Committee of the Privy Council declined on Thursday to find that a yacht intended to repay a loan had been sold at an undervalue.

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Toymaker Says Ex-CFO Must Sell Property To Pay £300K Debt

By Jamie Lennox

A toymaker has asked a London court to compel its former finance director to sell his apartment to cover a rising debt of more than £300,000 ($404,000) that it says he owes.

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Analysis

Bigger Isn't Better In £25B Pensions Megafund Reform

By Martin Croucher

The U.K. government unveiled on Thursday a sweeping reform program to drive the creation of new pension megafunds with the firepower to invest more in the U.K. economy — but experts warn this could stifle competition and "put a gun" to providers' heads.

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UK Eyes Alignment With Int'l Sustainability Standard

By Joel Poultney

Britain's accounting regulator proposed on Thursday introducing a U.K. version of the international standard used for sustainability assurance in a bid to ensure consistency in the sector.

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US Tariffs Spark Profit Warnings For UK Pension Sponsors

By Martin Croucher

British businesses might seek to tap into pension surpluses because of ongoing financial losses caused by U.S. tariffs, a professional services firm has warned.

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Brief

Argentex Left With Single Bidder As 2 Investors Exit

By Tom Fish

Argentex said Thursday that two potential investors have withdrawn their interest in buying the U.K.-based foreign exchange provider, leaving its rival IFX Payments as the only entity in line to acquire the company.

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EU Watchdog's ESG Dashboard Raises Transparency Bar

The European Banking Authority’s recently introduced ESG dashboard is a key tool in aligning financial institutions with the European Union's sustainability policies, and fundamentally alters the risk environment by transitioning climate-related data from a compliance afterthought to a core component of strategic decision-making, says Kristýna Tupá at Schönherr.

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