The Department for Work and Pensions has said that retirees lost out on £80 million ($102 million) in payments to help top up their weekly income to a minimum level because they submitted inaccurate information about themselves in the last financial year.
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TOP NEWS

Pensioners Lose £80M In Credit Over Submission Errors

By Joel Poultney

The Department for Work and Pensions has said that retirees lost out on £80 million ($102 million) in payments to help top up their weekly income to a minimum level because they submitted inaccurate information about themselves in the last financial year.

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FCA To Weigh 'Sensitive, Emotive Issue' Of Probes Policy

By Joel Poultney

The Financial Conduct Authority has said it "will take time" to consider widespread concerns over its proposals to identify companies or individuals under investigation after lawyers said the move could damage careers.

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FCA Sets Out Consumer Duty Priorities For Closed Products

By Alex Davidson

The Financial Conduct Authority has sent "Dear CEO" letters to multiple financial service firms, setting out its priorities for the July deadline to apply the Consumer Duty guidelines to closed-off products such as old savings accounts or insurance policies.

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LITIGATION

UK Litigation Roundup: Here's What You Missed In London

By Laura Stewart Liberty

This past week in London has seen a wave of claims filed against Verity Trustees Ltd., Harley-Davidson hit retailer Next with an intellectual property claim, Turkish e-commerce entrepreneur Demet Mutlu sue her ex-husband and Trendyol co-founder Evren Üçok and the Solicitors Regulation Authority file a claim against the former boss of collapsed law firm Axiom. Here, Law360 looks at these and other new claims in the U.K.

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POLICY & REGULATION

Insurers Seek Exclusion From EU Late Payment Rules

By Alex Davidson

European insurers have called for their exclusion from the Late Payment Regulation proposed by the European Commission that would fix a single shorter payment period, warning that it ignores how insurance works.

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DEALS

ABN Amro To Sell Stake In Life Insurance JV Neuflize Vie

By Tom Fish

BN Amro Bank NV said Friday that its Neuflize OBC French private bank branch has entered "exclusive negotiations" to sell the unit to the insurance subsidiary of BNP Paribas SA to form a strategic partnership in life insurance in France.

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Asset Manager Alpha Growth To Buy Insurance Manager

By Najiyya Budaly

British wealth manager Alpha Growth PLC said Friday that it will buy Guernsey-based insurance management company Jeometri for £450,000 ($569,000) to help it grow its insurance offering across the U.K.

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LAW FIRMS IN TODAY'S NEWS

Ashfords LLP

Bishop & Sewell

CMS Cameron McKenna Nabarro Olswang

Charles Russell Speechlys

Crowell & Moring

Freeths LLP

Hogan Lovells

Osborne Clarke

Pinsent Masons

Teacher Stern

Trowers & Hamlins

Weightmans LLP

COMPANIES IN TODAY'S NEWS

ABN AMRO Bank NV

AXA SA

BNP Paribas SA

Bibby Financial Services Ltd.

British Insurance Brokers' Association

Clarkson PLC

Euronext Amsterdam NV

Harley-Davidson Inc.

Insurance Europe Ltd.

International Underwriting Association of London Ltd.

JPMorgan Chase & Co.

LinkedIn Corp.

Lloyds Bank PLC

London Stock Exchange Group PLC

Solicitors Regulation Authority Ltd.

GOVERNMENT AGENCIES IN TODAY'S NEWS

Department for Work & Pensions

European Commission

European Union

Financial Conduct Authority

Serious Fraud Office