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The European Commission says it has fined Mastercard €570 million ($648 million) for limiting the ability of merchants to benefit from better terms offered by banks elsewhere in the single market. (AP)

EU Antitrust Enforcer Fines Mastercard €570M On Swipe Fees

The European Commission said Tuesday it has fined Mastercard Inc. €570 million ($648 million) for denying merchants access to payment services outside their home countries in breach of the bloc’s antitrust rules.

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Insurers Ask OECD For Clarity On Covering GDPR Fines

International insurers sought answers on Tuesday as to whether they can cover policyholders' huge fines following a cyberattack, as they look to reap new business in the wake of Europe’s sweeping data protection regime.

Energy Cos. Can't Hand £68M Pension Deficit To US Oil Firm

An English appeals court has rejected an attempt by several participants in a joint North Sea oil and gas venture to force Marathon Oil to foot the entire bill for a pensions deficit of approximately £68 million ($88 million), after a lower court ruled they had to cover little more than half the amount.

UK Stewardship Code Set For Major Rewrite, Regulator Says

The U.K. stewardship code, which sets out how fund managers should hold the companies they invest in to account, is to undergo a major overhaul, the Financial Reporting Council told lawmakers on Tuesday.  

Danske Bank Faces Suit In €200B Money Laundering Scandal

Danske Bank AG is facing the threat of a lawsuit over a €200 billion ($230 billion) money laundering scandal after a litigation funder said Tuesday it intends to back a shareholder action against the Danish lender.

Regulators Told To Team Up And Fight Pensions Misselling

The Financial Conduct Authority and The Pensions Regulator should step up their collaboration to protect savers from unscrupulous financial advisers, an independent review recommended on Tuesday after a misselling scandal at the British Steel Pension Scheme.

Watchdog Opens 2nd Probe Into KPMG Over Carillion Audits

Britain's auditing watchdog said Tuesday it is carrying out a second investigation into how accounting firm KPMG audited the books of U.K. construction outsourcing company Carillion PLC, which collapsed a year ago.

UK Gov't Won't Rule Out No-Deal Brexit, May Insists

Prime Minister Theresa May said Monday that her government will not rule out leaving the European Union without a deal and will not seek an extension of the March 29 departure date, despite continued parliamentary resistance to her draft withdrawal agreement.

HSBC Sued Over 'Tax-Avoiding' Film Scheme Investments

A group of approximately 300 investors has filed a class-action lawsuit in London against the private banking arm of HSBC PLC alleging they were misled about investments they made in the film industry between 2003 and 2007, which were later described as tax avoidance by the U.K.’s tax authority.

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