London Capital & Finance investors relieved after court ruling opens route to compensation claims

1 day, 15 hours ago

TD Mulling Fate of Schwab Stake in Review, Incoming CEO Says

-- Toronto-Dominion Bank will consider the fate of its 10.1% stake in Charles Schwab Corp. as part of a strategic review stemming from the Canadian bank’s US money-laundering scandal, incoming Chief Executive Officer Raymond Chun said. “If you think about the Schwab investment, that is part of the capital-allocation review that we are doing as part of the strategic review,” …

Bank Review Bloomberg Toronto Canadian Chun Schwab

1 week, 2 days ago

Investigation Can't Linger For Years Keeping Investors In Lurch: Bombay HC Pulls Up Mumbai Police's EOW Over Delay In Finishing Fraud Probe

Live Law

Pulling up Mumbai Police's Economic Offences Wing for the delay caused in properly investigating a "fraud" case under the Maharashtra Protection of Interest of Depositors Act, the Bombay High Court recently observed that investigations in a criminal case cannot be permitted to linger on for years, keeping investors in the lurch.A division bench of. Pulling up Mumbai Police's Economic Offences …

Mumbai Investigation Court Case Investors Ipc Fir

3 weeks ago

City watchdog extends motor finance complaints deadline to next December

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The Financial Conduct Authority said it follows a London …

Finance Appeal Court Complaints Commission Consumers Fca

4 weeks ago

UK’s highest court to hear appeal on car finance mis-selling

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Close Brothers has been granted …

Finance Court Brothers Close Brothers Motor Hear Appeal

1 month, 2 weeks ago

Why Starmer chose to give rich lawyers a break in the Budget and punish everyone else

The Independent

While most major employers were gnashing their teeth at the increase in their national insurance in the Budget, one group was celebrating. From the “magic circle” of City law firms – Linklaters, Allen & Overy, Freshfields and Clifford Chance – that would amount to an extra £4bn a year. The solicitors’ journal, The Law Society Gazette, was in buoyant mood, …

Law Tax Labour Budget Professional Services City Reeves

1 month, 2 weeks ago

PMJ Capital launches a new property debt fund for UK investors

The Independent

PMJ Capital is a Business Reporter client PMJ Capital, a UK-based specialist property finance lender, has announced the launch of its PMJ Private Credit No 1 Fund, an alternative investment fund geared towards offering retail investors access to secured real estate debt opportunities. The fund is designed to capitalise on the current property market’s demand for flexible finance, providing advised-retail …

Finance Market Tax Property Investment Capital Fund

1 month, 2 weeks ago

Lenders face a £30bn compensation bill to settle the motor finance scandal

Daily Mail

Lenders could be hit with a £30billion bill to cover compensation costs related to the motor finance scandal, ratings agency Moody’s has said. A court ruling recently found that banks must fully inform customers about the existence and size of commissions when selling car loans. The scale of the potential payout would make motor finance mis-selling the most expensive consumer …

Bill Motor Finance

1 month, 3 weeks ago

A $21 bn question in UK: Should buyers decide whether car dealers get commission from financing banks?

Firstpost

The Financial Conduct Authority in Britain has been pressing the Supreme Court to expedite a decision to allow lenders to appeal a crucial judgment that could possibly pave the way for a multi-billion pound consumer redress scheme linked to motor finance commissions Financial Conduct Authority's logo is seen at their head offices in London, Britain. Britain’s Financial Conduct Authority is …

Finance Consumer Commission Banks Britain Fca

1 month, 3 weeks ago

UK says £58bn climate finance tool to launch on London Stock Exchange

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A finance scheme designed to …

Finance London Climate Climate Finance Sign Keir Sir Keir

2 months ago

Invesco Advisers’ ESG Claims Draw $17.5 Million SEC Fine

Live Mint

-- Invesco Advisers Inc. will pay a $17.5 million fine to settle US Securities and Exchange Commission allegations that it misled clients about the share of company-wide assets under management that integrated environmental, social and governance factors into investment decisions. From 2020 to 2022, the firm told clients that between 70% and 94% of parent company Invesco Ltd.’s AUM were …

Investment Sec Invesco Esg Advisers Invesco Advisers

2 months, 1 week ago

Treasury's guilty gamble with Labour's new debt definitions: ALEX BRUMMER

Daily Mail

The gilts market has much to think about following Labour’s first Budget for 14 years. New rules: The Treasury historically has been the voice of fiscal orthodoxy and seriously worried about how interest rate costs feed borrowing and the national debt Reeves’s new interpretation of debt may give the Government more breathing space but it doesn’t make funding of the …

Labour Budget Debt Treasury Cent Rate Pension Funds

3 months, 1 week ago

Investing in the Merchants Trust could add some Footsie firepower to your portfolio

Daily Mail

This week, Chancellor Rachel Reeves modified her stance on the economy. Shares in the trust stand at a negligible discount – 0.7 per cent – to the trust's net asset value Since other trusts are at double-digit discounts, this underlines Merchants' appeal to those seeking to brighter future for UK plc. Interactive Investor's top tips include City of London, a …

Trust Companies Cent Reeves Bat Gergel Shares

3 months, 1 week ago

Watchdog warns action against Neil Woodford over fund collapse could be delayed until 2026 or later

Daily Mail

The City watchdog has warned that action against Neil Woodford may not be resolved until 2026 or later – seven years after the collapse of his investment empire. The Financial Conduct Authority has been preparing a case that could result in a fine or City ban for the stock-picker. Legal threat: The Financial Conduct Authority has been preparing a case …

Fca Woodford Watchdog Warns

3 months, 3 weeks ago

Car finance scandal sparks £200m sale at UK bank

The Telegraph

Growing uncertainty over the motor finance scandal has prompted a British merchant bank to sell its wealth business for £200m. The situation has been compared to the PPI scandal, with consumer rights campaigner Martin Lewis saying the compensation bill for mis-sold loans could top £10bn. Close scrapped a £100m dividend this year to help build its buffers and on Thursday …

Loans Sold Fca

4 months ago

Thames Water debt emergency seized on by US hedge funds

The Telegraph

A combative Wall Street hedge fund is positioned to play a central role in the future of Thames Water after scooping up the company’s loans at knockdown prices. New York-based Elliott Management is among a pack of aggressive US players to have hoovered up Thames Water debt at steep discounts in an attempt to capitalise on the financial uncertainty engulfing …

Thames Water Thames

4 months, 1 week ago

Crispin Blunt’s drug policy unit loses thousands of taxpayer money

The Independent

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Crispin Blunt’s drug policy group that sought to reclassify magic mushrooms …

Fund Westminster Email View Blunt Mr Blunt Future Fund Crispin Blunt

4 months, 1 week ago

How mutual fund investors can minimise the impact of front-running

Live Mint

The Association of Mutual Funds in India recently laid out guidelines for front-running and fraudulent transactions. The demon of mutual fund front-running isn’t new to the market and has often haunted investors because of its negative repercussions. “Regular review of fund performance for unusual patterns might help investors indicate front-running,” said Narinder Wadhwa MD of SKI Capital, while highlighting the …

Market Investors Fund Mutual Mutual Fund

5 months, 1 week ago

Telegraph co-owner avoids bankruptcy after High Court settlement

The Telegraph

A senior member of the Barclay family, which owns The Telegraph, has struck a confidential settlement with a leading private bank to avoid the threat of bankruptcy. The settlement was submitted to the High Court in late July, two days before Mr Barclay was expected to appear before a judge. The dispute exposed the financial challenges faced by Mr Barclay, …

Barclay Mr Barclay Investec

5 months, 3 weeks ago

Manchester officials sued after lending £140m of taxpayer money to property tycoon’s company

The Telegraph

As well as involving the Labour mayor, the legal case raises questions about how the Government will deliver its target of 1.5m new homes by the next election. Court papers seen by The Telegraph claim Mr Whitaker was granted “extensive financial support” by the GMCA, which as well as the mayoralty comprises 10 local councils. Mr Weis, who is being …

Mr Weis Renaker Gmca

5 months, 4 weeks ago

Hedge Fund Trader in Canada Gets Four-Year Jail Term for Faking Returns

Live Mint

-- A trader in Canada received a four-year jail sentence after accepting millions of dollars from investors, then giving them false information about their returns. Aikman was one of the founders of Yonge Street Capital LLC, which purported to be a hedge fund that invested in various securities and cryptocurrencies, according to a Tuesday statement from the Ontario Securities Commission. …

Aikman Yonge Street

6 months, 2 weeks ago

Hargreaves Lansdown takeover bid not fair to all investors, chairman warned

The Telegraph

A shareholder in Hargreaves Lansdown has expressed its “dismay” at a £5.4bn private equity takeover bid for the fund supermarket in an open letter to chairman Alison Platt. Lancaster Investment Management said it was “unconvinced” by the offer tabled by a consortium of private equity funds led by CVC Capital Partners and Abu Dhabi. In the letter, it wrote: “We …

Lancaster Hargreaves Lansdown

8 months, 4 weeks ago

Lenders warned to hold back more cash amid car finance scandal

The Telegraph

Motor finance lenders have been warned to set more money aside to deal with the car finance compensation investigation by the City watchdog. The Financial Conduct Authority has been reviewing variable commissions paid to secondhand car dealers since January after a surge in complaints. The regulator said on Friday data was arriving too slowly from firms and warned some lenders …

Finance Lenders

8 months, 4 weeks ago

Investigation into ‘defective’ Neil Woodford risks taking another two years

The Telegraph

Neil Woodford had a “defective” understanding of his job, the City watchdog has found, amid fears that an investigation into the disgraced fund manager will take another two years. It could easily be another two years, if not longer.” It comes as the FCA found that Mr Woodford had a “defective and unreasonably narrow” understanding of his job before his …

Fund Fca Woodford Nunan Mr Woodford

9 months ago

Judge schedules a hearing to find out if Trump's bond sponsor is properly backed

Raw Story

Judge Arthur Engoron responded to a brief filed by New York Attorney General Letitia James asking for financial information that can confirm the company that insured Donald Trump's bond was solvent. The filing said she, “Hereby takes exception to the sufficiency of the surety,” noting the Knight Specialty Insurance Company is trying to operate “without a certificate of qualification.” In …

Trump Company New York Donald Trump

9 months, 2 weeks ago

Close Brothers reveals plans to bolster finances by £400m amid car finance probe

The Independent

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our …

Finance Costs Brothers Group Close Close Brothers Fca Probe

10 months ago

UK investors shun British equity funds in favour of surging US valuations

Daily Mail

Equity funds are enjoying a bounce-back among UK investors UK investors piled into equity funds at the fastest rate for nearly three years last month – but shunned the sluggish British market in favour of surging US valuations. Instead, it was North American equity funds that benefited most, with a record £2.54billion added, as investors sought to climb aboard the …

Investors Funds Equity Funds Uk Investors Valuations Equity

10 months, 2 weeks ago

Car finance compensation: Who will get a pay out and when?

The Independent

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Finance Car Lloyds Fca

10 months, 2 weeks ago

Lloyds forced to set aside £450m for car finance compensation

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Lloyds Banking Group has revealed …

Bank Lloyds Fca Finance Compensation

10 months, 2 weeks ago

Lloyds sets aside £450m for car finance mis-selling compensation

The Telegraph

Lloyds Banking Group has set aside £450m to cover potential compensation claims from the mis-selling of car finance, in a brewing scandal which has drawn comparisons with the PPI crisis. Mr Nunn said: “We think this is a very different situation.” Lloyds had to pay almost £20bn over the PPI scandal, which crippled the bank for many years.” The bank …

Bank Lloyds Nunn Car Finance

11 months ago

Woodford investors forced to accept large losses in ‘appalling’ compensation scheme

The Telegraph

Thousands of investors in Neil Woodford’s fund have been forced to accept an “appalling” compensation scheme after the High Court backed a £230m repayment plan, campaigners say. It agreed with UK regulators to pay compensation to around 250,000 of Woodford’s investors but LFS denies any wrongdoing. However, the compensation scheme has faced criticism for trapping investors in the scheme and …

Compensation Fund Scheme Woodford Investors Forced Lfs

11 months ago

Will the FCA's motor finance probe lead to PPI-style payouts?

Daily Mail

A regulatory probe into the historical sale of loans by the UK motor finance industry could mirror the PPI scandal and result in billions of pounds of compensation. Some analysts fear the surprise Financial Conduct Authority review, launched last month, represents a 'powder keg' that threatens the future of the country's motor finance sector. Probe: The Financial Conduct Authority launched …

Finance Financial Complaints Car Interest Claims Probe

11 months, 3 weeks ago

David Cameron dodges questions about how much he was paid by Greensill Capital

The Independent

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy David Cameron has denied he was paid £10m by the collapsed …

Lobbying Lord Westminster Email View Cameron Lord Cameron Greensill

11 months, 4 weeks ago

Former boss of Gupta-linked Wyelands Bank fined £120,000

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The former boss of a …

Gupta Hunter Mr Hunter Pra Gfg Alliance Gfg Potential Conflicts

1 year, 1 month ago

How Jacob Rees-Mogg’s hedge fund lost its way

The Telegraph

Sir Jacob Rees-Mogg has often channelled the spirit of laissez-faire capitalism. However, in an ironic twist of fate, cut-throat competition has come back to bite him as the money management business co-founded by the Tory MP unveiled plans to wind down. Somerset Capital Management, which has offices in London, Singapore and China, is pulling down the shutters after St James’s …

Jacob

1 year, 1 month ago

Metro Bank shareholders approve rescue deal in crunch vote

The Independent

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Banking Bank Metro Million Metro Bank

1 year, 6 months ago

London Stock Exchange boss accuses pension funds of hypocrisy

The Telegraph

The boss of the London Stock Exchange has accused pension funds of hypocrisy for resisting a deregulation drive in the Square Mile. Julia Hoggett, chief executive of the LSE, said that some of the UK’s largest pension schemes opposed reforms to London’s listing rules despite investing vast sums of cash in overseas exchanges with more relaxed regulations. It comes after …

London Pension Fca Exchange Boss

1 year, 7 months ago

Telegraph put up for auction as bank tries to recover debts

The Independent

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Lloyds Banking Group is said to have appointed consulting firm AlixPartners to act as …

Independent Company Group Lloyds Barclay Holding Tmg

1 year, 8 months ago

Trump-appointed judge concealing multimillion-dollar stock holding from financial disclosures: report

Raw Story

The Texas-based federal judge who ruled to revoke the Food and Drug Administration's approval of the abortion drug mifepristone is redacting personal wealth disclosures in an unusual move, reported CNN on Friday. "In his 2020 and 2021 annual disclosures, Judge Matthew Kacsmaryk wrote that he held between $5 million and $25 million in 'common stock' of a company – a …

Report Kacsmaryk

1 year, 8 months ago

Credit Suisse investors sue after facing billions in losses

Associated Press

LONDON — A group of Credit Suisse investors have sued Swiss financial regulators after a government-engineered takeover of the struggling bank by rival UBS left them with billions in losses. The investors are contesting an order by the Swiss Financial Market Supervisory Authority, or FINMA, that wiped out about 16 billion Swiss francs in higher-risk Credit Suisse bonds as part …

Financial Credit Bank Billion Switzerland Swiss Bonds

1 year, 10 months ago

DC Edit | Fix regulatory regime to gain back investor trust

Deccan Chronicle

It appears that the Hindenburg report on the Adani Group and the impact that it has had on the Indian stock markets will lead to the constitution of a committee that will explore ways and means to protect Indian investors. The government’s reply came in response to a query by the apex court to explain to it the “robust mechanisms” …

Market Indian Investors Investor

2 years ago

English rugby clubs ‘heading for disaster’ after mounting £300m in debts

The Independent

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2 years ago

Metro Bank fined £10m for giving investors false information

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Metro Bank has been fined …

Information Bank Fca Donaldson Metro Bank

2 years, 1 month ago

Hunt to tear up ‘overbearing’ EU rules to boost City post-Brexit

The Telegraph

Mr Hunt and Andrew Griffith, the City minister, will meet with City chief executives on Friday to discuss the reforms and how the financial services sector can further drive investment and economic growth in the UK. The changes could also include a review of the Mifid 2 rulebook - regulation around financial research - as well as deregulation of trading …

City Hunt Mr Hunt

2 years, 1 month ago

Liverpool owners FSG 'have received a lot of interest from potential investors'

Daily Mail

Liverpool owners FSG have received 'a lot of interest' in the Premier League club, revealed Sam Kennedy, a partner in the company. Liverpool owners FSG have received 'a lot of interest' in investment in the Premier League club FSG confirmed it had hired Goldman Sachs and Morgan Stanley to sell its stake in the club Kennedy is also the current …

Investment Potential Interest Liverpool Premier League Chelsea Club

2 years, 3 months ago

To buy Twitter, Musk has to keep banks, investors on board

The Hindu

Earlier this week, Musk reversed course and said he'd go through with acquiring the social media company under the same terms he agreed to in April. But Twitter's attorneys said it's Musk who is holding everything up, and his effort to put the trial on hold “is an invitation to further mischief and delay." But with so much at play, …

Equity Money Tesla Musk Investors Billion Deal

2 years, 4 months ago

London Irish tycoon Mick Crossan reveals he is ready to give the club away for FREE

Daily Mail

London Irish tycoon Mick Crossan has revealed he is ready to give the club away for nothing after almost a decade of ownership. London Irish tycoon Mick Crossan has revealed he is ready to give the club away for nothing Rugby is suffering a financial crisis - with teams amassing a combined debt of £509 million 'If anyone's looking to …

London Rugby Ive Irish Crossan Mick Crossan Irish Tycoon

2 years, 7 months ago

Broker blames ‘irrational’ Vatican choices for London losses

Associated Press

VATICAN CITY — One of the principal figures in the Vatican’s bungled London real estate venture testified Monday that the Holy See would have turned a profit on its valuable investment if it hadn’t pulled its money out of a fund prematurely. Mincione broke two years of silence in testifying before the Vatican’s criminal court, where he and nine other …

London Fund Million Vatican Broker Credit Suisse Mincione

2 years, 7 months ago

1,500 Neil Woodford investors sue over fund's collapse

The Telegraph

A second group of investors have filed a multimillion pound lawsuit over the collapse of Neil Woodford’s equity income fund, which left more than 300,000 savers nursing losses. London law firm Harcus Parker has launched proceedings in the High Court on behalf of 1,500 investors, seeking damages of at least £18m against the fund's administrators Link Fund Solutions over its …

Law Fund Sue Proceedings Investors Link

2 years, 8 months ago

Tory MP facing bankruptcy proceedings given time to raise money

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A judge has given a …

Tory Mp Afriyie Judge Barber Bankruptcy Proceedings Mr Afriyie

2 years, 9 months ago

PFA Charity chiefs SUE investigators from Charity Commission looking into the union

Daily Mail

Four PFA Charity executives, including former players Garth Crooks and Brendan Batson, have launched an extraordinary High Court legal action against the Charity Commission, amid its investigation into the charity which is expected to deliver devastating findings. Also named in the High Court legal action against the Commission are Gareth Griffiths, another PFA charity trustee, and Darren Wilson, who as …

Charity High Court Court Commission Taylor Batson Crooks

London Capital & Finance investors relieved after court ruling opens route to compensation claims

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