Hackers who targeted airport currency exchange mainstay Travelex in a ransomware attack on New Year’s Eve have alerted British media that they possess 5 GB of sensitive customer data from the company “since gaining access to...more
Big Euro (and global) financial news emerging on Tuesday, as European officials rather surprisingly nominated current IMF chief Christine Lagarde to succeed Mario Draghi as European Central Bank president....more
Mr. Buffett and his Berkshire crew just dropped nearly a billion on its own stock, a likely sign, according to analysts, of a “dearth of appealing investment options” for the company’s “large cash pile”....more
In a landmark decision which will impact most defined benefit (DB) pension schemes in the UK, the High Court held on 26 October 2018 that pension schemes must equalise for the effect of guaranteed minimum pensions (GMPs)...more
Hogan Lovells pension group is delighted to send you our September e-newsletter. In this newsletter you will also find: - Three pension news stories; - Links to our pension news updates; - Dates for your...more
More trouble for the embattled British PM Theresa May. We learned yesterday that Britain’s second-largest construction firm—Carillion—was forced into liquidation after amassing a staggering $1.35 billion in debt. The downfall...more
Goldman’s deal-making advising is sputtering a bit these days, so Lloyd and the gang are working on generating some of those deals themselves through a new Innovations Lab internal venture....more
The Bank of England announced that the results of the UK 2016 banking stress test would be reported to the relevant firms involved on November 29, 2016 and published on November 30, 2016...more
A pair of whistleblowers is seeking discovery-related sanctions against Wells Fargo for allegedly concealing “crucial evidence” for their False Claims Act claims over fees added to government-backed mortgages....more
On June 12, global insurance giant Lloyd’s of London released a report titled Bitcoin: Risk Factors for Insurance. Lloyd’s knows a thing or two about risk—it has been underwriting for more than 300 years and has insured...more
If there is one industry that needs an ethics overhaul, it has to be the financial industry. The list of transgressions continues to grow – AML/sanctions, LIBOR, Foreign Exchange Currency Cartels and Market Manipulations,...more
This is the first in what we expect to be a series of updates on DOJ criminal actions in the cartel area. Here, we look at highlights over the last six months in the DOJ’s investigations of the auto parts industry, LIBOR, and...more
Companies in every industry—private and public—struggle with the difficult task of promptly identifying employee wrongdoing and responding appropriately. The National Football League continues to be embroiled in a controversy...more
On July 28, the Bank of England published a statement on Financial Conduct Authority enforcement action against Lloyds Bank PLC and Bank of Scotland PLC. ...more
Bank of England Publishes Statement on Enforcement Action Against Lloyds Bank PLC and Bank of Scotland PLC - On July 28, the Bank of England published a statement on Financial Conduct Authority enforcement action...more
Elliptic, a London-based digital virtual currency services firm, announced this week that it has secured insurance coverage through Lloyd’s of London for Bitcoin deposits made into its “deep cold storage” vault. This is an...more
On December 11, the FCA published a final notice to Lloyds Banking Group in which it was fined a record GBP £28 million. The fine was imposed for “serious failings” in its sales practices, the largest UK regulatory penalty...more
On February 19, the FSA published a final notice announcing that it had fined Lloyds Banking Group (LBG) a total of £4,315,000 for failing to make payment protection insurance (PPI) redress payments promptly. Between May 2011...more
On January 8, the Crown Prosecution Service issued a press release stating that eight people had been charged in connection with Operation Hornet, an investigation by Thames Valley Police into allegations of fraudulent...more