Financial Services UK

Man outside a crown court in Southwark holding a disposable coffee cup.

The Biggest UK White Collar Cases Of 2025: Midyear Report

James "Jes" Staley's ill-fated legal battle over his ties to Jeffrey Epstein, the first conviction secured by Britain's sanctions' enforcer and Tom Hayes' Supreme Court victory are just a few of the big cases from 2025.

View of the sign for a government ministry in Whitehall, London.

Tweaks To AML Regs Offer Flexibility But Only Modest Change

Plans to reform the U.K.'s fight against dirty money promise to cut red tape and strengthen ties between enforcement bodies, but lawyers say they are not convinced the measures will reduce their compliance burden or fundamentally strengthen the regime.

FCA Woodford Ban Signals Risks Of Star Fund Managers

The decision by the financial watchdog to provisionally fine and ban former fund manager Neil Woodford has sent a lesson to companies across the finance sector that the star status of some senior managers is up for review in the City.

Motor Finance Ruling Shifts Focus To Wider Broker-Fee Cases

The recent decision by the U.K. Supreme Court to limit the payouts available to many motor finance customers over hidden fees could switch legal attention to other sectors that routinely add brokers' commissions to bills, lawyers say.

August 13, 2025
UK Gains Interpol Notice Against Fugitive Behind £64M Fraud

British police said Wednesday that they've secured an international notice against the fugitive mastermind behind a Ponzi scheme to help trace and recover part of the £64 million ($86 million) he owes investors.
August 13, 2025
Fund Manager Sued Over Unpaid Fee In $300M Financing Deal

A corporate finance adviser has alleged that an investment fund manager is refusing to pay a $3.75 million success fee after the adviser introduced investors for the manager's fleets of supply vessels across the Middle East, Southeast Asia and West Africa.
August 13, 2025
EU Trade Body Urges Change To DORA Financial Reporting

A trade body for Europe's financial institutions has urged European Union watchdogs to change rules on incident reporting because banks are providing ineffective reports.
August 13, 2025
Football Club Owner's $93.6M Buyout Dispute Gets Trial Date

A dispute over whether the owner of a portfolio of football clubs was required to buy for $93.6 million an investment vehicle's stake in his company will be determined in a preliminary issue trial in September.
August 13, 2025
Shipping Magnate's Heirs Seek £1M Debt Owed To Father

Heirs of the German shipping magnate Bertram Rickmers have sued a Swiss company for £1 million ($1.36 million) over its alleged failure to pay back a loan it took out from their father.
August 13, 2025
HSF Kramer, CMS Guide £36M Pension Deal For German Bank

Pension Insurance Corp. has completed a £36 million ($49 million) buy-in transaction involving the pensions of 156 members of The Helaba Group in a deal guided by CMS Cameron McKenna Nabarro Olswang LLP and Herbert Smith Freehills Kramer LLP.
August 13, 2025
Charity Director Avoids Prison In Terrorism Sanctions Case

The director of a charity sanctioned for her ties to a pro-Hamas news outlet was given a suspended prison sentence on Wednesday in the first prosecution of an individual for failing to adequately respond to a request for information by Britain's sanctions enforcer.
August 13, 2025
UK Watchdog Proposes More Targeted Audit Supervision

The U.K.'s accounting watchdog proposed Wednesday a more targeted approach to supervising audits, backed by greater reliance on firms to take responsibility for a quality-orientated culture.
August 13, 2025
Gov't Urged To Tackle UK Self-Employed Pensions 'Crisis'

The government should allow HM Revenue and Customs and financial advisers to provide personalized "nudges" to self-employed workers to encourage retirement saving amid mounting concern that they are not putting enough money aside, a cross-party think tank has said.
August 13, 2025
Fund Manager Sued For €6M Over Terminated Advisory Deal

A Monaco advisory firm has sued a Spanish private equity fund manager for €6 million ($7 million), accusing it of unlawfully terminating a contract for fund placement advisory services.
August 13, 2025
Squire Patton Steers £23M Pension Deal For UK Steel Maker

Reinforced steel supplier Rom Ltd. has agreed a £23 million ($31 million) full pension scheme buy-in with Just Group, the financial services company said Wednesday.
August 12, 2025
EBA Report Says Latest Tech Needed To Fight Financial Crime

The European Banking Authority emphasized Tuesday that cutting-edge technology like artificial intelligence is necessary to keep up with financial crime, in a report that found adoption of new tech across the European Union to be patchy.
August 12, 2025
Exchanges Federation Seeks Tax Incentives Across Markets

A global association for exchanges and clearinghouses recommended Tuesday new tax boosts for companies listing shares on exchanges and for other investment-related activities across world markets, including London.
August 12, 2025
Geopolitical Volatility The 'New Normal' For Marine Insurance

Geopolitical instability is now a permanent feature of the shipping industry that marine insurers must get used to, a marine mutual insurer has said.
August 12, 2025
Insurer Utmost Group's Assets Grow To £107B After Rival Buy

Utmost Group said Tuesday that its gross cash inflows increased to £5.3 billion ($7.1 billion) in the first half of 2025 after the British insurer completed the acquisition of rival Lombard International in December.
August 12, 2025
Gov't Bodies Urged To Assess Insurance Accounting Changes

The government warned its divisions and public sector bodies on Tuesday to check what impact changes to an accounting standard for insurance contracts might have on their financial reporting.
August 12, 2025
EU Blocks Venture Fund's 'BSV' TM Over Bitcoin Confusion

European Union officials have refused an application by a Silicon Valley venture fund for a "BSV" trademark, citing a risk of confusion with the acronym of the "Bitcoin Satoshi Vision" cryptocurrency.
August 11, 2025
Freeths-Led Accounting Biz Buys Baker Tilly Unit For €24M

Accountancy business MHA PLC said Monday that it has completed its purchase of the southeast Europe subsidiary of tax adviser Baker Tilly in a cash and shares transaction worth up to €24 million ($28 million) in a bid to boost its growth ambitions.
August 11, 2025
Nathaniel Rothschild Drops Claim Against Lars Windhorst

Nathaniel Rothschild has dropped a legal case against German financier Lars Windhorst and global investment company Tennor International AG over an allegedly unpaid personal loan.
August 11, 2025
Royal London Secures £1B In Pension Deals Since Launch

The Royal London Mutual Insurance Society Ltd. said it has secured at least £1 billion ($1.34 billion) in pension scheme liabilities since entering the de-risking market last year.
August 11, 2025
7 Local Gov't Pension Funds To Join Border To Coast

Border to Coast Pensions Partnership said Monday that seven local government pension scheme funds that manage approximately £45 billion ($60.5 billion) plan to join the pool, as part of the wider plan to consolidate the U.K.'s retirement pot.
August 11, 2025
Gov't To Tighten Appointed Reps Regime To Stop Misconduct

The U.K. government said Monday it will empower the Financial Conduct Authority to refuse firms permission to use appointed representatives, in a tightening of the regime to stop misconduct.
August 11, 2025
Most Pension Savers Under 65 Tap Funds Early, Data Shows

Approximately 70% of the three million savers in Britain who withdrew money from their retirement pots after government reforms in 2015 did so before they reached state pension age, a retirement specialist said Monday.
August 11, 2025
Law Firm Sues NatWest Over Suspended Bank Accounts

NatWest is facing a High Court claim brought by a London law firm which alleges that the bank suddenly suspended access to its accounts without warning and has failed to give any explanation.
August 11, 2025
Fintech Biz Plus500 To Return $165M To Investors

Trading platforms operator Plus500 unveiled plans on Monday to return $165 million to shareholders through dividends and a $90 million stock buyback program as it reported increased revenue.

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

How Top Court Ruling Limits Scope Of Motor Finance Claims

The U.K. Supreme Court’s recent ruling in a landmark case concerning car finance commissions clarifies when and how a dealership’s fiduciary duties arise, considerably narrowing that path for mass consumer litigation and highlighting how an upcoming Financial Conduct Authority redress scheme will seek to balance consumer, lender and market interests, say lawyers at Cadwalader.
FCA Misconduct Guide Will Expand Firms' Duty To Investigate

The Financial Conduct Authority's recent proposals on workplace nonfinancial misconduct will place a greater onus on compliance and investigations teams, clarifying that the question to ascertain is whether the behavior is justifiable and proportionate, say lawyers at Ashurst.
Lessons From Landmark UK Supreme Court Libor Ruling

The U.K. Supreme Court’s recent quashing of former traders Hayes and Palombo’s interest rate rigging convictions on the ground of jury misdirection raises concerns about failings in the criminal appeal process, and whether encouraging institutions to accept regulatory settlements can create conditions for miscarriages of justice, says Ellen Gallagher at Vardags.
Mansion House Speech Heralds New Financial Regulatory Era

The chancellor of the exchequer's recent Mansion House speech introduced a sweeping commitment to modernize regulation, which will require U.K. retail banks and building societies to revisit core assumptions, and allow lawyers to play a key role in shaping the new rules, say lawyers at Addleshaw Goddard.
Challenges For Managers In Navigating Continuation Funds

With continuation vehicles becoming an increasingly popular alternative to traditional private equity investment exit routes, managers and lenders should be confident that they understand a transaction’s structure and how it interacts with existing debt arrangements, says Jason Larkins at Travers Smith.
Key Points From EU Proposals To Ease Securitization Rules

The European Commission’s recently proposed securitization framework amendments aim to relax existing rules, such as by reducing due diligence requirements and removing the need for investors to conduct certain prescribed compliance verifications by sponsors or original lenders, say lawyers at McDermott.
High Court Elects Substance Over Form In Arbitration Dispute

The High Court recently found that an arbitral tribunal has jurisdiction over the dispute in Ras Al Khaimah Investment Authority v. India, underscoring the importance of aligning treaty interpretation with the goal of fostering investment, while rejecting interpretations that unduly limit investor protections, says Josep Galvez at 4-5 Gray's Inn.
What New UK Stub Equity Rules Will Mean For PE Bidders

The U.K. Takeover Panel’s recent guide to making stub equity offers, for the first time formally harmonizing the approach to be taken, should be helpful for both private equity bidders and practitioners, and not unduly restrictive, say lawyers at Davis Polk.
What To Expect As FCA Preps To Launch AI Testing Service

The Financial Conduct Authority’s forthcoming artificial intelligence live testing service will provide participants with access to appropriate regulatory expertise, but to gauge the tool’s potential utility, it is important to understand how it fits in with what the regulator is already doing, says Omar Salem at Fox Williams.
New Interpol Silver Notice Could Be Tool For Justice Or Abuse

Interpol has issued dozens of Silver Notices to trace and recover assets linked to criminal activity since January, and though the tool may disrupt organized crime and terrorist financing, attorneys must protect against the potential for corrupt misuse, say attorneys at Clark Hill and Arktouros.
Weighing PE Transaction Risks As EU AI Act Rolls Out

As the European Union Artificial Intelligence Act becomes effective in stages, legal practitioners involved in private equity deals should consider the transactional risks resulting from this measure, including penalties, extraterritorial reach and target-firm applicability, say lawyers at Covington.
EU Banking Watchdog Regulations Herald New AML Era

The European Banking Authority’s forthcoming anti-money laundering package will set a framework for compliance across the European Union by redefining the rules of engagement between financial institutions and supervisors, setting a new standard for transparency and accountability, say lawyers at A&O Shearman.
What To Expect As UK, US Gov'ts Develop Stablecoin Policies

While the U.K. and U.S. governments’ policies both suggest that fiat-backed stablecoins can improve efficiency and safety in payments systems, a perception that crypto-assets remain high risk means consumers are unlikely to use them in significant volume anytime soon, say lawyers at Cadwalader.
What Insurers Can Do To Prepare For PRA 'Solvent Exit' Rules

With less than a year until the Prudential Regulation Authority's new solvent exit rules for insurers come into force, it is critical that firms prepare to meet the imminent deadline by outlining an execution plan and establishing clear governance arrangements, say lawyers at Holman Fenwick.
Decoding Arbitral Disputes: UK Injunctions Across Borders

A recent High Court of Justice decision allowing JPMorgan Chase Bank to block VTB Bank from bringing suit in a Russian court provides a seminal reflection on the power of English courts to issue antisuit injunctions when global banking disputes increasingly straddle multiple jurisdictions, says Josep Galvez of 4-5 Gray's Inn.