A London-based insurance broker and a Mexican reinsurance business have agreed to settle their $18.7 million row, sparked by the North American company accusing one of the British business' agents of faking documents for non-existent arrangements and pocketing the cash.
A London-based insurance broker and a Mexican reinsurance business have agreed to settle their $18.7 million row, sparked by the North American company accusing one of the British business' agents of faking documents for non-existent arrangements and pocketing the cash.
The former owner of a company bought by a subsidiary of an American technology and security conglomerate has denied that he withheld a string of alleged issues with the business ahead of the sale and is not liable for more than £20 million ($26.3 million) claimed.
The government has been asked to consider a formal arbitration body to navigate future disputes between businesses and savers over who benefits from an estimated £160 billion in excess pension funds.
This past week in London has seen Big Technologies file fresh claims against its ousted chief executive, West Ham United FC sue Arthur J. Gallagher Insurance for breach of duty, and RSM UK face a new claim over a company's administration. Here, Law360 looks at these and other new claims in the U.K.
Financial services companies should be ready to engage with consumers when faced with enforcement action, in a lesson from a test case of the reasoning behind a Financial Conduct Authority decision to "name and shame" a company that could encourage bolder naming actions, lawyers said.
Almost half of what European retail investors pay to invest in mutual funds goes to distributors rather than fund managers, partly because of "opaque" practices, the bloc's financial watchdog has said in its first report assessing fund costs.
Aviva on Friday called for the driving test to teach avoiding scams, and that social media platforms should only allow insurance adverts by brokers and insurers that are registered with the financial watchdog, amid concerns over sales of fake policies.
If implemented, recent amendments to the European Union securitization framework are expected to have an unambiguously positive effect on significant risk transfer markets, providing greater consistency and necessary flexibility, say lawyers at McDermott.
