Financial Services UK

  • June 13, 2025

    Tecnimont Must Disclose Emails In €212M Bond Dispute

    A Russian subsidiary of fertilizer producer EuroChem convinced a court Friday to compel industrial group Tecnimont to produce its communications with the Italian sanctions authority, days after the trial over the €212 million ($245 million) bond dispute kicked off.

  • June 13, 2025

    Nexo Capital Settles $126M Crypto Contract Dispute

    Cryptocurrency lending platform Nexo Capital has settled three fintech executives' claims over access to tens of millions of dollars of their digital assets, according to a court order.

  • June 13, 2025

    European Banks Seek Changes To 'Unclear' Draft AML Rules

    A trade body for European banks has warned that a European Union banking watchdog's proposed anti-money laundering rules make excessive demands on credit institutions.

  • June 13, 2025

    FCA Sees 'More To Do' In Reshaping Regulation For Growth

    The Financial Conduct Authority responded Friday to parliamentary calls for more growth-oriented regulation, saying that it is exploring new ways to boost Britain's international competitiveness on top of the steps it has already taken.

  • June 13, 2025

    France's BPCE To Buy Novo Banco In €6.4B Deal

    France's second-largest banking group BPCE said Friday that it will buy U.S. private equity shop Lone Star Fund's 75% stake in Novo Banco SA in a deal that values the Portuguese bank at €6.4 billion ($7.4 billion).

  • June 13, 2025

    Tap Global To List On AIM, Eyes Wider Investor Base

    Tap Global Group PLC said Friday it will list on London's junior alternative investment market this month, a move the digital finance platform believes will help it attract a wider pool of investors.

  • June 12, 2025

    Lords Urges Regulators To Shed Risk-Aversion, Boost Growth

    A cross-party House of Lords committee called Friday on the U.K.'s financial services watchdogs to change their culture of risk-aversion which is preventing them from promoting growth in the economy.

  • June 12, 2025

    Everbright Exec Testifies He Trusted Media Biz's Financial Info

    An executive of the Chinese financial services firm Everbright testified Thursday that a sports media rights business was portrayed as "well performing" before a joint venture acquired a majority stake, only to later discover its financial health was allegedly inflated.

  • June 12, 2025

    Customs Missteps Don't Void VAT Exemption, ECJ Says

    A horse owner can still claim a value-added tax exemption if she was merely negligent, rather than deceitful, in failing to declare her horses with Swedish customs officials, the European Court of Justice held Thursday.

  • June 12, 2025

    KPMG Fined £690K In Audit Independence Probe

    The accounting watchdog said Thursday it that has fined KPMG £690,625 ($940,000) and its audit engagement partner Nick Plumb £38,000 for breaching independence requirements as auditor of Carr's Group PLC.

  • June 12, 2025

    SFO Aligns With Gov't Growth Plans In Pitch To UK PLC

    Britain's top white-collar prosecutor unveiled on Thursday new details about plans to share data and offer training to companies to prevent economic crime, in a shift to "assist growth" in line with government plans to kindle the sluggish economy.

  • June 12, 2025

    Broadstone Buys ExactVAL To Boost Pension Transactions

    Retirement consultancy Broadstone said Thursday it has bought actuarial service provider ExactVAL to support insurers in carrying out pension transactions.

  • June 12, 2025

    Reed Smith Appoints New Head Of Its Frankfurt Office

    Reed Smith LLP said Thursday that it has appointed debt finance specialist Oliver Hahnelt as the managing partner of its office in Frankfurt following the departure of its previous incumbent.

  • June 12, 2025

    Gowling Steers Pension Insurer's £150M Buy-In For Reach

    Just Group, a pensions insurer, revealed on Thursday it has taken on retirement plan liabilities worth £150 million ($204 million) from a program sponsored by publishing giant Reach.

  • June 12, 2025

    Baker McKenzie Guides Credit Agricole's €345M Care Biz Deal

    The healthcare subsidiary of French banking giant Crédit Agricole SA said Thursday that it will buy Petits-fils, an at-home services provider for the elderly in France, for €345 million ($400 million) from French care provider Clariane SE.

  • June 12, 2025

    5 Questions For Howard Kennedy Partner Rebecca Hume

    The U.K government is putting crypto-assets at the heart of its growth agenda, relying on the Financial Conduct Authority to shore up regulation of the sector.

  • June 11, 2025

    Coinbase Loses 'Bad Faith' TM Clash With Rival At EU Court

    A European Union court tossed Coinbase's latest attempt to void a Japanese crypto exchange's "coinbase" trademark on Wednesday, ruling there was no proof the company acted in bad faith by registering the mark.

  • June 11, 2025

    UK Growth Push Puts FCA Enforcement On Unfamiliar Footing

    The government's demand that regulators should prioritize growth is "largely incompatible" with their duty to deter misconduct, say lawyers who are warning clients not to interpret the political messaging as a green light to engage in risky behavior.

  • June 11, 2025

    EuroChem Fights Banks Over €212M Bonds In Sanctions Row

    A Russian subsidiary of fertilizer producer EuroChem accused two European banks of using the pretext of sanctions imposed after the invasion of Ukraine to "never" pay out on €212 million ($244 million) in bonds, on the first day of a High Court trial Wednesday.

  • June 11, 2025

    37% Of Romania Cos. Fall Short On EU Reporting Standard

    Almost 40% of businesses filing public country-by-country reports in Romania are failing to fully comply with the European Union's reporting standard, according to a report by a nonprofit organization.

  • June 11, 2025

    UBS Sues Chelsea Group For $20.6M Over Greensill Deal

    UBS' asset management unit has brought a $20.6 million claim in an English court against three companies in a Cyprus-based group alleging unpaid debt resulting from a supply chain finance deal with the now-defunct Greensill Capital.

  • June 11, 2025

    Accountant Gets Maternity Bias Payout Boosted To £32K

    A property development company must pay its former accountant £31,900 ($43,200) for maternity discrimination after she won her appeal against an initial figure of £5,000, a tribunal has ruled.

  • June 11, 2025

    EU Lawmakers Urged To Boost Share Settlement Competition

    A trade body for financial institutions in Europe has asked lawmakers to prioritize making clearing and settlement service more competitive in plans to integrate and grow European Union capital markets.

  • June 11, 2025

    FCA Warns Financial Advisers Of Retirement Advice Failings

    The City watchdog said Wednesday that it has found that companies providing retirement income advice are failing to record clients' financial situations or revisit their attitude to risk in a thematic review.

  • June 11, 2025

    Nearly 80% Of Trustees Plan To Access Pension Surplus

    More than three-quarters of retirement savings plan trustees have said they are planning to use new powers floated by the government that will allow them to distribute surpluses tied up in their schemes, a consultancy has said. 

Expert Analysis

  • Key Litigation Funding Rulings Will Drive Reform In 2024

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    Ground-breaking judgments on disputes funding and fee arrangements from 2023 — including that litigation funding agreements could be damages-based agreements, rendering them unenforceable — will bring legislative changes in 2024, which could have a substantial impact on litigation risk for several sectors, say Verity Jackson-Grant and David Bridge at Simmons & Simmons.

  • How Draft Trading Regs Provide Framework For UK Regime

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    Representing an important part of the U.K. government's post-Brexit regulatory reform agenda, the most recent draft of the proposed Trading Regulations seeks to provide a framework for a new rules-based regime for regulating public offers of securities and admissions to trading on a U.K.-regulated market, say lawyers at Davis Polk.

  • Breaking Down The New Rules For High Net Worth Individuals

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    Andrew Northage at Walker Morris outlines what businesses need to be aware of to ensure ongoing compliance with revised conditions in the U.K. government's updated financial promotion exemptions for high net worth individuals and sophisticated investors, and suggests a few practical tips for businesses to follow.

  • How Data Privacy Law Cases Are Evolving In UK, EU And US

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    To see where the law is heading in 2024, it is worth looking at privacy litigation and enforcement trends from last year, where we saw a focus on General Data Protection Regulation regulatory enforcement actions in the U.K. and EU, and class actions brought by private plaintiffs in the U.S., say lawyers at Morgan Lewis.

  • Misleading Airline Ads Offer Lessons To Avoid Greenwashing

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    Following the Advertising Standards Authority's recent decision that three airlines' adverts misled customers about their environmental impact, companies should ensure that their green claims comply with legal standards to avoid risking reputational damage, which could have financial repercussions, say Elaina Bailes and Olivia Shaw at Stewarts.

  • An Overview Of UK Short Selling Regulation Reforms

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    The steps taken by the U.K. government to reform the short selling regime show a thoughtful and considered approach and a willingness to listen to industry feedback in adapting the legacy EU regime to the realities of the U.K. markets, say Anna Maleva-Otto and Matthew Dow at Schulte Roth.

  • Supreme Court Ruling Is A Gift To Insolvency Practitioners

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    As corporate criminal liability is in sharp focus, the Supreme Court's recent decision in Palmer v. Northern Derbyshire Magistrates' Court that administrators are not company officers and should not be held liable under U.K. labor law is instructive in focusing on the substance and not merely the title of a person's role within a company, say lawyers at Greenberg Traurig.

  • What Can Be Learned From Adobe-Figma Merger Termination

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    The Competition and Markets Authority’s role in the recent termination of the proposed Adobe-Figma merger deal indicates the regulator's intention to be seen as a strong enforcer in the technology sphere, and serves as a warning for companies to address antitrust risks early on in the merger process, say Deirdre Taylor and Molly Heslop at Gibson Dunn.

  • How FCA Listing Regime Reform Proposals Are Developing

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    The Financial Conduct Authority’s recently proposed U.K. equity listings reforms maintain increased flexibility with a disclosure-based approach, but much of the new regime’s success will depend on the eligibility criteria used and whether additional governance will be required for inclusion, say lawyers at Debevoise.

  • Major EU AI Banking Ruling Will Reverberate Across Sectors

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    Following the European Court of Justice's recent OQ v. Land Hessen decision that banks' use of AI-driven credit scores to make consumer decisions did not comply with the General Data Protection Regulation, regulators indicated that the ruling would apply broadly, leaving numerous industries that employ AI-powered decisions open to scrutiny, say lawyers at Alston & Bird.

  • Key Points From Ireland's New Accountability Framework

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    The recently introduced Individual Accountability Framework is a positive step for the financial services industry in Ireland, and in contributing to cultural and practical change will encourage positive behavior and good governance for the benefit of the industry and investors, say Aongus McCarthy and Niall Esler at Walkers Global.

  • Technology And AI: 2024's Legal And Regulatory Landscape

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    Alexander Amato-Cravero at Herbert Smith discusses what businesses and their lawyers can expect in the year ahead in terms of regulation, policies and associated risks related to advancing technologies and artificial intelligence, including the need for increased internal governance and workforce engagement.

  • US And UK Law Firms Continue Trend Of EU Expansion

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    A broad spectrum of U.S. and U.K. law firms are now seeking fresh opportunities in Europe's fastest growing and constantly evolving sectors by opening offices in strategic locations across the continent, says James Lavan at Buchanan Law.

  • A Look At 2023's Landmark Insolvency Developments

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    The insolvency landscape in 2023 witnessed pivotal court decisions that will continue to shape the industry in 2024, with a focus on refining director and administrator duties and obligations, and addressing emerging challenges, says Kerri Wilson at Ontier.

  • Pension Industry Should Monitor Evolving ESG Issues In 2024

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    ESG thinking in the pensions industry has substantially evolved from focusing on climate change and net-zero to including nature and social considerations, and formalizing governance processes — illustrating that, in 2024, continually monitoring ESG issues sits squarely within trustee fiduciary duties, says Liz Ramsaran at DWF.

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