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FTSE 100 Reserves £31.3bn for Litigation and Compliance

  • Writer: Kirk Hartley
    Kirk Hartley
  • Sep 27, 2016
  • 1 min read

The litigation industry can thank uber banks and others for a continuing flow of work.  A new survey from Thompson Reuters is said to conclude the FTSE 100 has now:

set aside £31.3bn in the last 12 months to pay litigation legal bills, compensation and regulatory fines ….Banks paid out the most, accounting for 56 per cent of the total figure – around £17.4bn – representing a 27 per cent increase on the previous year. Major legal and regulatory disputes including Libor and Forex manipulation and PPI mis-selling continued to have a significant impact on UK banks’ legal costs.

The preceding summary is from a September 26, 2016 article at the Lawyer.

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About Kirk

Since becoming a lawyer in 1983, Kirk’s 35+ years of practice have focused on advising a wide range of corporations, associations, and individuals (as both plaintiffs and defendants) on both tort and commercial law issues centered around “mass torts.”

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