Try our Advanced Search for more refined results

Financial Services UK

FCA Auto Finance Redress Plan Open To Legal Challenge

Banks and vehicle financing companies are expected to mount legal challenges to the Financial Conduct Authority's £7.5 billion ($9.9 billion) motor finance compensation program, threatening to capsize the plan and probably delay its implementation for months.

Home Office sign outside the ministry's building in Whitehall, London.

Fraud Plan Puts FCA At Forefront Of UK Crypto-Crackdown

The Financial Conduct Authority has been given a lead role in targeting money laundering, crypto-assets and money transfer scams in a government fraud strategy involving multiple agencies, which lawyers expect will boost enforcement action and heap a new compliance burden on financial institutions.

Double exposure of coins in stacks with bar graph for financial and investment business in the background.

M&A, Deregulation Bring Reset To UK Asset Management

Consolidation of the asset management sector is ramping up as U.S. firms seek access to the domestic market and U.K. watchdogs loosen regulation in line with government-mandated pro-growth policies, which is expected to accelerate a spurt in dealmaking.

Ombudsman Poised To Take Consumer Duty Power From FCA

Pending legislative reforms to the Financial Ombudsman Service could hand the dispute-arbitrator power to assess whether businesses have complied with the consumer duty and other broad rules set by the Financial Conduct Authority, regulatory lawyers say.

April 09, 2026
Fed Ends Crédit Agricole, Goldman Enforcement Orders

The Federal Reserve said Thursday that it has closed out another batch of longstanding enforcement actions against big banks, freeing Crédit Agricole, Goldman Sachs and Taiwan's Mega Bank from orders that date to at least 2018.
April 09, 2026
Crypto CEO Fights Extradition On Human Rights Grounds

The former chief executive of a crypto-asset company fought against extradition to the U.S. on fraud charges on Thursday, telling a London court that it would violate his human rights as he would be at an increased risk of suicide.
April 09, 2026
London Energy Investor To Sell Assets In Wind-Down

Energy investor SDCL said Thursday that it has decided to wind down after its shareholders rejected a proposal to restructure the business and raise equity, despite the board's faith in the plans.
April 09, 2026
PwC Faces Probe Over Audit Of Troubled Investment Firm

The accounting watchdog said Thursday that it has opened an investigation into PwC's audit of the 2023 consolidated financial statements of investment company Digital 9 Infrastructure.
April 09, 2026
Insurance Body Calls For Changes To EU Tax Reform Plans

Insurance Europe has urged European Union lawmakers to give workplace pension institutions that are regulated as insurers the same fast-track dividend tax relief as other pension providers in tax reforms which are pending.
April 09, 2026
FCA Finds Customer ID Gaps At Banks, Asset Managers

The Financial Conduct Authority has found in a review that banks, asset managers and other financial institutions are failing to make proper background checks on customers to prevent crime.
April 09, 2026
Ex-Trader Says Deutsche Bank Can't Block £12M Claim

A former Deutsche Bank trader has hit back at the lender's counterclaim, denying that his conviction for tricking market competitors through a "spoofing" scheme voids his £12 million ($16 million) claim.
April 09, 2026
Adviser Loses Challenge To FCA Ban Over Stalker Disruption

A financial adviser has lost his challenge to a ban for failing to comply with regulatory requirements for six years, as a tribunal ruled that having to move house because of a stalker and suffering health problems did not excuse him.
April 09, 2026
RocaJunyent-Led Spanish Lender Sells €3B Loan Portfolio

Debt management firm Axactor said Thursday it has acquired a portfolio of unsecured, nonperforming loans from Spanish bank Sabadell with a book value of approximately €3 billion ($3.5 billion) in one of the largest such transactions in recent years.
April 09, 2026
LSEG Starts Fresh £900M Buyback After Earlier Stage Ends

The owner of the London Stock Exchange said Thursday that it will begin a new share buyback program worth up to £900 million ($1.2 billion) as it continues its long-term plan to return cash to shareholders and reduce the company's share capital.
April 09, 2026
Ex-Fidelity Pro Can't Get Temp Pay In Whistleblowing Case

Fidelity Investments does not need to pay or reinstate a member of staff while he waits for a judge to rule on his claims for unfair dismissal and whistleblowing detriment because the case was not sufficiently clear-cut, an employment tribunal has ruled.
April 08, 2026
UK Gov't Expands Tax Relief For Startup Investment

The U.K.'s Labour government is expanding investment tax relief to unlock £100 million ($134.4 million) worth of funding for startups and early-stage businesses looking to grow, according to HM Treasury.
April 08, 2026
Finance Co. Told To Wind Up After Investors Claim £1.7M Loss

A London court has ordered the winding up of a financial services company that went into administration after being sued for £1.7 million ($2.3. million) by investors in failed property redevelopment schemes, ruling that the reason for administration was "tenuous."
April 08, 2026
BDO Denies Negligence Caused Collapse In £80M Audit Fight

BDO has rejected an £80 million ($107 million) claim for negligence from a collapsed construction company which alleged that it had bungled an audit, saying the business would still have failed even if £43 million in losses had been uncovered earlier.
April 08, 2026
FirstRand To Sell Aldermore Over UK Car Loan Redress

South Africa's FirstRand plans to sell its British operations, including lender Aldermore and motor finance provider MotoNovo, after Britain's compensation scheme for missold car loans forced the bank to sharply increase its expected costs.
April 08, 2026
EU Fund Managers Urge Simpler Cross-Border Tax Rules

A trade body for European fund managers called Wednesday on lawmakers to simplify tax rules for cross border investments through funds by making some further changes to an initiative that is underway to simplify tax rules.
April 08, 2026
EU Sustainable Rules Need Clarity, Finance Body Warns

The consumer investment group Better Finance on Wednesday urged the European Union to simplify its sustainable finance rules so that investors can more easily weigh whether products deliver tangible environmental and social benefits.
April 08, 2026
Geopolitical Risk 'Heightens Pensions Security Concerns'

Trustees of defined benefit pension plans should regularly assess the strength and reliability of their sponsoring employers as geopolitical instability, inflation and higher business costs combine to threaten company finances, a consultancy warned on Wednesday.
April 08, 2026
Squire Patton Steers Aviva's £100M Iveco Pension Plan Buy-In

Aviva PLC said Wednesday it has completed a pension insurance deal worth £100 million ($134 million) with the Iveco Ltd. Pension Scheme, securing the retirement benefits of more than 1,350 U.K. members of the commercial vehicle maker's plan.
April 07, 2026
Brothers Claim Signatures Were Forged In £5M Debt Case

Two brothers accused of owing almost £5 million in outstanding payments on an investment loan have alleged their signatures were forged on loan agreements.
April 07, 2026
UK Treasury Pressed To Widen Equivalence Regime With EU

Trade bodies for U.K. and European financial institutions have urged HM Treasury to extend post-Brexit capital rules that allow overseas businesses to operate in Britain when they comply with home regulations.
April 08, 2026
CORRECTED: HMRC Takes On New Powers As Tax Dodge Measures Kick In

HM Revenue and Customs has assumed new powers to tackle tax fraud and evasion as key parts of new legislation take effect, including tougher rules on construction industry schemes and penalties for promoters of tax avoidance arrangements. Correction: A previous version of this article misstated which HMRC reforms took effect on April 6. The error has been corrected.
April 07, 2026
City Body Foresees Problems In Gov't Digital ID System

A trade body for financial institutions raised concerns on Tuesday over how a new national online identity system will work alongside the existing requirement for checks to identify future customers under the money laundering regulations.
April 07, 2026
DWF Joins FCA And PRA Supervision Panels

The Financial Conduct Authority and the Prudential Regulation Authority have added DWF to their panels that provide oversight of the financial sector, the law firm said Tuesday.
April 07, 2026
ING Ends Russian Unit Sale Amid Doubts On Buyer Approval

Dutch bank ING Groep NV said Tuesday that it will not sell Russian subsidiary ING Bank (Eurasia) JSC to Global Development JSC as it does not expect the Moscow-based buyer to get regulatory approvals.

Editor's Picks

5 Questions For Spencer West Partner Karl Foster

The Financial Conduct Authority's approach to enforcement and consumer protection has come up against government economic growth priorities and resistance from the sector to its proposals to "name and shame" companies early on during regulatory probes.
UK Draft Pay Fraud Rules Open Tricky Legal Liabilities

The government's new draft legislation, which will give banks longer to investigate suspicions of fraud before they send payments instructed by customers, will create a wave of new legal liabilities and lead to regulatory hurdles, according to lawyers.
FCA Fires Warning Shot Over City's Consumer Duty Failings

The Financial Conduct Authority has sent out a fresh warning to financial services companies highlighting how some of them are failing to comply with its Consumer Duty regime. But experts have told Law360 that the expectations are unclear.

Expert Analysis

What CMA Blog Reveals About Pricing Collusion Scrutiny

The Competition and Markets Authority's recent blog post announcing capabilities to screen for algorithmic collusion demonstrates that the regulator's concerns are crystallizing into enhanced investigative and enforcement actions, broadening the range of commercial arrangements at risk of antitrust scrutiny, say lawyers at Freshfields.
Carillion Fines Show FCA's Broad View Of Directors' Duties

The Financial Conduct Authority’s recent issuing of final notices to Carillion’s former group CEO demonstrates that executive directors cannot recklessly allow misleading public announcements that undermine market confidence, says Wendy Saunders at Lewis Silkin.
Assessing Potential Legal Claims From Private Credit Turmoil

Amid the downturn in the private credit markets spurred by multiple high-profile bankruptcies, a New York lawsuit stemming from the collapse of First Brands provides an important case study for investors to help minimize future losses and maximize any potential recovery in the event of a private credit default, say attorneys at Bleichmar Fonti.
What New FCA Rules Mean For Deferred Payment Providers

New rules from the Financial Conduct Authority requiring deferred payment credit providers to obtain a financial services license have two notable implications: providers will be subject to full compliance with the regulator’s consumer duty, and must meet its organizational and governance requirements, says Alix Prentice at Cadwalader.
FCA Stablecoin Sandbox Indicates Shift In Crypto Regulation

The Financial Conduct Authority’s recent decision to use four companies to test stablecoin models within its regulatory sandbox provides a mechanism for testing real-world use cases, and shines a light on the U.K.'s broader strategy in the context of global stablecoin legislation, says Ben Lee at Andersen.
Who Will Be 1st To Prosecute New Corporate Fraud Offense?

With no prosecutions under the failure to prevent fraud offense six months on from its introduction, lawyers at BCL Solicitors explore the front-runners in the race to prosecute, and consider whether a private prosecutor might beat a state prosecuting authority to the finish line.
Crypto-Asset Market Downturn Is Driving Litigation Risk

Recent volatility in the crypto-asset market has placed a strain on balance sheets and laid bare weaknesses that may have been overlooked during more stable periods, increasing the risk for disputes over whether procedures or enforcement have been carried out correctly, say lawyers at Kennedys.
Decoding Arbitral Disputes: UK Top Court On State Immunity

The U.K. Supreme Court's recent ruling denying Spain's and Zimbabwe's bids to escape arbitration awards using state immunity claims provides significant clarification of the relationship between sovereign immunity and the International Centre for Settlement of Investment Disputes system, and reinforces the finality and enforceability of ICSID awards, says Josep Galvez at 4-5 Gray's Inn.
FCA's £44M Nationwide Fine Highlights AML Control Gaps

The Financial Conduct Authority’s recent £44 million fine of Nationwide Building Society for anti-money laundering control failures demonstrates that where a firm does not implement appropriate policies and remediation projects, there is a risk that noncompliance will remain unaddressed, say lawyers at Taylor Wessing.
How UK Securitization Reforms Will Affect Industry

The Prudential Regulation Authority’s recent proposals to reform securitization requirements will offer greater structuring flexibility, reduced operational complexity and lower compliance costs, although with the rationale for imposing stand-alone obligations on institutional investors not clear, dissenting voices are likely, say lawyers at Skadden.
FCA's HTX Action Shows Crypto Ad Rules Must Be Followed

The Financial Conduct Authority’s London High Court action against global crypto-exchange HTX for illegally promoting its services to U.K. consumers sends the message that it will pursue those who flout the rules from a distance and will be key in testing the extent of the U.K.’s regulatory perimeter, says Nick Barnard at Corker Binning.
UK Territories May Yet Prevail On Ownership Disclosure

Despite its recently launched anti-corruption strategy, the U.K. government appears to have little appetite in the short term to impose fully public ownership registers on the overseas territories, a position that will be welcomed by advisers and individuals, says Rupert Cullen at Allectus Law.
Striking A Balance Between AI Innovation And Regulation

The Financial Conduct Authority's recent consultation on the impact of artificial intelligence on financial services highlights the debate between regulators, the government and industry over whether current regulatory frameworks can balance innovation with risk management, say lawyers at Womble Bond.
FCA Enforcement Newsletter Reflects Shift Toward Openness

The Financial Conduct Authority’s inaugural Enforcement Watch newsletter provides clarity on the cases the regulator is opening and highlights its approach to early communication of enforcement activity, offering a welcome insight into its emerging priorities, says David Hamilton at Howard Kennedy.
Preparing For Fund Managers Directive 2 Compliance

With the Alternative Investment Fund Managers Directive 2 implementation deadline fast approaching, fund managers should be in the final stages of preparing to comply with changes in governance, policies and documents relating to liquidity management and loan origination activities, say lawyers at McDermott.