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PwC, EY Hit With Fines Over LC&F Audit Failures
The Financial Reporting Council said Tuesday that it has handed out fines totaling approximately £10 million ($12.5 million) to PwC, EY and a third accounting firm for failures during audits they carried out on London Capital & Finance before the investment company's high-profile collapse.
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A former Labour Party staff member argued for more than £200,000 ($250,000) in damages on Friday after she won her tribunal claim alleging that the MP she worked for had fired her after she blew the whistle on misconduct that included antisemitism.
Retail giant Frasers Group PLC has withdrawn its €50 million ($54 million) legal claim in London against Morgan Stanley over a margin call of almost $1 billion on Hugo Boss stock options, the bank said Friday.
Britain's antitrust court gave the go-ahead Friday for the former director of the U.K. gas regulator to lead a class action for millions of electricity customers in Britain against manufacturers of high-voltage power cables that are accused of fixing prices.
A former financial adviser was convicted on Friday of siphoning £5.8 million ($7.3 million) from an investment fund using secret commission payments as part of a legal financing fraud.
A former solicitor at Clarke Willmott LLP must face a disciplinary tribunal regarding allegations that he engaged in sexually inappropriate conduct toward a colleague at a work event arranged by his firm, the Solicitors Regulation Authority has said.
Mastercard argued to a London appellate court Thursday that a £10 billion ($12.5 billion) class action over its swipe fees should be governed by the law of the jurisdiction covering the bank that processed the payment, rather than the jurisdiction of the customers who suffered the loss.
A London appeals court on Thursday rejected a holding company's bid to overturn a ruling that found its insurers were not liable for losses it suffered when its acquisition of a construction contractor went south after bribery and corruption allegations.
Universal Music Group has reached a deal with TikTok that will allow its affiliated artists and music to return to the social media platform months after the companies fell out over issues of artist compensation and artificial intelligence-generated content.
McDermott Will & Emery LLP announced a change of guard on Thursday with the appointment of a new office managing partner and a new senior partner as the firm continues to expand its London office.
Novartis AG said Thursday it has agreed to buy U.S. radiopharmaceutical company Mariana Oncology in a transaction worth up to $1.75 billion, as the Swiss pharmaceutical giant moves to bolster its precision nuclear medicine portfolio.
