FTSE 100 Reserves £31.3bn for Litigation and Compliance
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.