FCA Bans 2 Pension Advisers Over Poor British Steel Advice

By Joel Poultney

The Financial Conduct Authority said Monday that it has banned two pension professionals from giving retirement savings advice over the "careless and incompetent" guidance they gave to members of the British Steel Pension Scheme.

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Adviser Says Ex-Firm Wrongly Axed Deal For His Client Base

By Jamie Lennox

A self-employed financial adviser has countersued his former firm alleging that it wrongly ended a contract to acquire his client base, rejecting the firm's bid to recover a £1.28 million ($1.6 million) loan it gave him as part of the deal.

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Watchdog Finds Investment Firms Not Ready For Stress

By Alex Davidson

The Financial Conduct Authority said Monday that investment companies are inadequately prepared to mitigate harm in times of financial market distress or serious corporate problems.

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EU Withholding Measure Is Not On Agenda Of Dec. 8 Meeting

By Todd Buell

A measure that would simplify the way withholding tax refunds are issued in European Union member countries while also helping national authorities detect fraud won't be discussed at a coming EU finance ministers meeting, a draft agenda showed.

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Judge OKs Investor Attys' $19.2M Fee For Libor-Rigging Deals

By Sydney Price

A New York federal judge on Monday approved a $19.2 million award for attorneys representing investors in a Libor-rigging case against several financial institutions for their role in securing multiple settlements totaling over $74 million.

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Latham Adds Two Akin Private Credit Partners In London

By Marialuisa Taddia

Latham & Watkins LLP said on Monday that it has hired two partners from Akin Gump Strauss Hauer & Feld LLP to boost its private credit expertise in London, as the war for talent among elite U.S. law firms in the British capital intensifies.

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FCA Promotions Review Sends A Strong Message To Firms

The recent FCA review into firms' compliance with the rules on promoting high-risk investments to retail clients clarifies that it expects the letter and the spirit of the rules to be followed, and given the interplay with the consumer duty, there are wider implications at stake, say Marina Reason and Chris Hurn at Herbert Smith.

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