TikTok loses court battle over £12.7m child privacy fine Tech TikTok has lost an appeal against a £12.7m fine from the UK’s data protection regulator for illegally processing the data of over 1.4m children under the age of 13. The watchdog hit TikTok with the penalty in April 2023 for breaching the UK’s data protection law, the GDPR, for unlawfully processing the data of children [...]
FCA boss takes aim at motor finance lenders and claims firms Banking The boss of the City watchdog has taken a fresh swipe at the parties opposing the regulator’s motor finance redress scheme. Nikhil Rathi, chief executive of the Financial Conduct Authority (FCA), told the Treasury Committee that he was “concerned about the integrity of the claims management market” and took a shot at lenders for trying [...]
Motor finance war of words heats up as City watchdog blasts law firm’s motives Legal A blistering war of words has broken out between the City watchdog and the firms leading the consumer legal challenge to its £9bn motor finance scheme. The Financial Conduct Authority (FCA) has urged the Upper Tribunal to throw out the case entirely as it slammed Courmacs Legal and its client Consumer Voice, for a serious [...]
HMRC fights to close Bolt’s VAT loophole May 19, 2026 Ride-hailing platform Bolt faces the tax authorities in court today over how it calculates and pays its VAT bill. At the centre of this dispute was the question of whether Bolt could use the tour operators’ margin scheme (TOMS). Under this scheme, businesses only pay VAT on the profit margin they make between buying a [...]
Energy giant clashes with HMRC at UK’s highest court over £28m penalty May 18, 2026 Scottish Power is to face the tax authority at the UK’s highest court over a tax deduction on a £28m penalty to settle a probe with the regulator. The legal case stems from a probe by the energy regulator Ofgem into Scottish Power between 2013 and 2016 regarding mis-selling, poor complaints handling, and a lack [...]
Motor finance trade body gears up for legal challenge to £9bn redress April 24, 2026 The motor finance industry’s trade body is mulling lodging a legal battle against the UK financial watchdog‘s £9bn redress scheme. The Finance and Leasing Association (FLA), which counts Santander and the financial arms of BMW and Volkswagen among its members, is reported to be leaning towards challenging the City regulator’s scheme. Members of the body [...]
Crispin Odey drops £79m libel case against Financial Times April 10, 2026 Former hedge fund tycoon Crispin Odey dropped his libel claim against the Financial Times, ending a high-stakes legal battle over the publication’s reporting of sexual misconduct allegations. The Financial Times published several articles about the City financier in 2023 regarding allegations over his sexual conduct, following allegations from 20 women spanning five decades. Odey has [...]
Lord Roborough refused to stay at Odey Asset Management over ‘lack of trust’ March 13, 2026 Lord Roborough, a former partner at Odey Asset Management (OAM), has rejected claims made by Crispin Odey that the City watchdog directly pressured the firm’s executives to find against him. In a legal battle against the Financial Conduct Authority (FCA), disgraced financier Odey claims the OAM executive committee was subject to “undue pressure from the FCA” [...]
Crispin Odey threatened to ‘shut down’ fund if board tried to oust him March 9, 2026 Crispin Odey threatened to “shut down” his eponymous hedge fund if he was dismissed by its board or it proceeded with investigations into his alleged misconduct against his wishes, a court will be told. Disgraced financier Odey faces the City watchdog at the High Court this week as he seeks to overturn a ruling that [...]
Yoghurt giant Muller takes on HMRC over corporation tax in legal battle February 3, 2026 The makers behind Muller Corner and Muller Rice are taking the UK tax authorities to court over a long-running dispute about corporation tax. Muller UK and Ireland Group, Muller Dairy UK, Robert Wiseman and Sons, and TM UK Production are in a battle with HMRC over whether a company can claim tax breaks on ‘goodwill’ [...]