By Alex Davidson

The Financial Conduct Authority might be forced to rethink how it justifies the size of its fines after being forced to cut penalties after referral to the Upper Tribunal, raising questions about its ability to make enforcement decisions stick, legal experts caution.

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  Disclosure Haunts The SFO, Posing Challenge For Next Chief

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• Not Milk? Oatly Ruling Sets TM Limits For Alternative Foods

  By Alex Baldwin

  Plant-based alternatives will not be able to invoke the name of their dairy counterpart, lawyers say, after the U.K.'s top court drew a line in the sand that barred a leading brand from getting a trademark for branding with the word "milk."

• Daily Mail Owner's £500M Telegraph Deal To Be Scrutinized

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  The government said Thursday that it has referred the £500 million ($681 million) acquisition of Telegraph Media Group by the owner of the Daily Mail newspaper to the competition and communications regulators after raising concerns about media plurality in the U.K.

• Ex-Cisco Legal Director Seeks £4M In Male Gender Bias Claim

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• Insurers Defend Cutting Claims In COVID Furlough Test Case

  By Martin Croucher

  Britain's highest court should take the most obvious interpretation of the question of whether state furlough grants made during the COVID-19 pandemic reduced the wage bill of businesses, insurers argued at a hearing on Thursday.

• Broker Says Denmark Can't Bring £56M Cum-Ex Fraud Claim

  By Sophia Dourou

  An English broker told Britain's top court on Thursday that Denmark's tax authority can't sue it for more than £56 million ($76 million) over a tax refund fraud, because an earlier decision in related proceedings rendered the claim inadmissible.

• Clifford Chance-Led Nuveen To Buy Schroders For £9.9B

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  Schroders said Thursday that it has agreed to a £9.9 billion ($13.5 billion) cash takeover by U.S. asset manager Nuveen in a transaction that would take one of the City's historic names into private ownership.

• SFO To Revisit 20 Cases After Bribery Prosecution Implodes

  By Christopher Crosby

  The Serious Fraud Office said Thursday that it is reexamining the integrity of approximately 20 cases after it abandoned a decade-old bribery prosecution because of another failing in disclosure. 

• Outdated Laws Blamed For China Spy Case Collapse

  By Eddie Beaver

  The root cause of the collapse of criminal proceedings against two men accused of spying for China was outdated legislation, but the risk of future problems has not been entirely negated by a new national security law, a parliamentary committee warned Thursday.

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