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Financial Services UK
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November 06, 2025
German Watchdog Fines JP Morgan €45M For AML Failures
German financial regulator BaFin said Thursday it has hit pan-European bank JP Morgan SE in Frankfurt with its largest-ever fine of €45 million ($52 million) for breaching anti-money-laundering rules.
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November 06, 2025
Pulse, Nirvana Merge To Form Specialty MGA Platform
Managing general agent Pulse Insurance Ltd. said it has completed its planned merger with Nirvana after being given the green light from the Financial Conduct Authority.
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November 06, 2025
Deutsche Börse And Nasdaq Face EU Derivatives Cartel Probe
The European Commission revealed Thursday that it is investigating Deutsche Börse and Nasdaq over possible collusion to avoid competing for the listing, trading and clearing of financial derivatives.
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November 06, 2025
UEFA Strengthens Ties With Europol To Fight Corruption
Europol and UEFA have extended their collaboration to crack down on corruption in football by agreeing to share information on issues like money laundering, illegal betting and financial manipulation, the organizations said.
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November 06, 2025
Pinsent Masons Steers Shipping Co. On £70M Pension Deals
Danish international shipping and logistics company DFDS AS has completed two bulk purchase annuity transactions worth a combined £70.4 million ($92.2 million) with Just Group PLC, the financial services company disclosed on Thursday.
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November 05, 2025
Funder Can't Stop Businessman's Bid To Reopen Asset Fight
A businessman can try to reopen a long-running dispute over the assets of Gerald Smith, a former software company boss with a long history of financial crime, a London judge ruled on Wednesday.
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November 05, 2025
Gov't Says It Will Bring Tech Giants Into Financial Regulation
Big technology companies could be brought within the scope of U.K. financial regulation by next year, a minister said, after the government came under pressure from lawmakers over its response to last month's Amazon cloud outage.
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November 05, 2025
18 Arrested Over €300M Fake Subscription Fraud Network
European prosecutors revealed Wednesday that 18 people have been arrested on suspicion of setting up a scheme of fake online subscriptions to dating, pornography and streaming services, taking at least €300 million ($345 million) from credit card users.
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November 05, 2025
BoE Vows To Make Captive Insurance Regime Competitive
The Bank of England said Wednesday it would ensure that its new regime to allow corporations to set up captive insurance companies would be internationally competitive.
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November 05, 2025
Nick Candy Wins £4.6M Over Startup's False Apple, LVMH Ties
A London court ruled Wednesday that a former dotcom entrepreneur must pay £4.6 million ($6 million) compensation to Nick Candy, finding that the luxury property developer was duped into investing in a startup by lies about backing from Apple and LVMH Moët Hennessy Louis Vuitton.
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November 05, 2025
FCA Extends Motor Finance Redress Consultation
The Financial Conduct Authority said Wednesday it has extended the consultation period for its motor finance compensation program by three weeks, after hearing from lenders that analysis of market-wide data will take time.
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November 05, 2025
Insurer Sampo To Roll Out Share Buyback Worth Up To €150M
Finnish insurer Sampo PLC said on Wednesday it will begin a new €150 million ($172 million) share repurchase program with a view to lowering its share capital.
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November 05, 2025
Alternative Asset Manager Kicks Off £30M Share Buyback
Alternative asset manager Pollen Street Group Ltd. launched a new share repurchase program on Wednesday worth up to £30 million ($39 million), a move expected to downsize the company's share capital.
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November 04, 2025
Insolvent UK Co.'s Ex-Director Fights £2M VAT Fraud Case
The former director of a company in liquidation denied an insolvency specialist's claims that he took part in a value-added tax fraud at the business and is liable for paying about £2 million ($2.6 million), saying the U.K. tax authority has withdrawn its liability notices against him.
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November 04, 2025
FCA Sued Over 'Flawed' £30M Bond Data Contract Award
A technology provider has alleged that the Financial Conduct Authority carried out a "fatally flawed and unfair" procurement process for a prestigious contract worth an estimated £29.5 million ($38.4 million) to provide bond consolidated tape.
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November 04, 2025
Real Estate Co. Claims £260M Deal Undermined By Bank
A real estate business has sued a property developer and a Dubai bank for allegedly undermining a £260 million ($340 million) refinancing deal secured against a luxury London property.
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November 04, 2025
Czech Crime Prosecutor Named Head Of EU Anti-Fraud Office
The European Commission said Tuesday that it has appointed veteran economic crime prosecutor Petr Klement to head the bloc's fraud investigatory office.
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November 04, 2025
LSEG Reveals £1B Buyback After Trading Update
The owner of the London Stock Exchange said Tuesday that it will immediately start an approximately £1 billion ($1.3 billion) share buyback program to return surplus cash to its shareholders, as it released strong financial results for the period July to September.
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November 04, 2025
UK Pension Dashboards 'On Course' As Final Deadline Looms
The U.K.'s flagship online pension dashboard project is still on track with now less than a year to go before the final deadline, the agency responsible confirmed.
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November 04, 2025
BDO Hit With $102M Claim For 'Negligent' Audits Of Insurer
The liquidators of an insurance company have hit BDO LLP with a negligence claim of more than $100 million, arguing that inadequate audits concealed the true financial picture of the defunct business.
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November 04, 2025
Ocean Wilsons Awaits Court Decision On Merger With Rival
Bermudian investment firm Ocean Wilsons said Tuesday that it expects its all-stock merger with local rival Hansa Investment Co. Ltd. to go ahead after a court hearing to sanction the deal, postponed since September because of a shareholder concern, concluded on Monday.
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November 04, 2025
Nine Arrested Over Suspected €600M Crypto Fraud Ring
European authorities revealed Tuesday that they have arrested nine people suspected of money laundering through a cryptocurrency network that scammed victims out of more than €600 million ($690 million).
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November 04, 2025
Gov't Urged To Bring 'Major Changes' To Pension Tax Plans
The government should give "much more thought" to its plans to apply inheritance tax to wealth transferred through pensions to ensure the proposals are implemented fairly and effectively, a retirement consultancy has said.
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November 03, 2025
Catching Up With Delaware's Chancery Court
From billion-dollar pharma feuds to shifting equity deadlines, Delaware's courts saw another week of battles over mergers, fiduciary duty and judicial limits.
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November 03, 2025
Adviser Says He Was 'Scapegoated' In FCA Ban Challenge
A financial adviser told a London tribunal Monday that he had been made a "scapegoat" as he challenged the U.K. finance regulator's decision to ban him from working in financial services over investments in a hotel group.
Expert Analysis
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Review Of EU Cross-Border Merger Regs' Impact On Irish Cos.
Looking back on the year since the European Union Mobility Directive was transposed into Irish law, enabling Irish and European Economic Area limited liability companies to participate in cross-border deals, it is clear that restructuring options available to Irish companies with EU operations have significantly expanded, say lawyers at Matheson.
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A Look At UK, EU And US Cartel Enforcement Trends
The European Union, U.K. and U.S. competition agencies' recently issued joint statement on competition risks in generative artificial intelligence demonstrates increased cross-border collaboration on cartel investigations, meaning companies facing investigations in one jurisdiction should anticipate related investigations in other jurisdictions, say lawyers at Latham & Watkins.
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Testing The Limits Of English Courts' Pro-Arbitration Stance
Although the Court of Appeal recently upheld a $64 million arbitration award in Eternity Sky v. Zhang, the judgment offers rare insight into when the English courts’ general inclination to enforce arbitral awards may be outweighed by competing policy interests such as consumer rights, say Declan Gallivan and Peter Morton at K&L Gates.
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What Green Claims Directive Proposal Means For Businesses
With the European Union’s recent adoption of a general approach to the proposed Green Claims Directive, which will regulate certain environmental claims and likely be finalized next year, companies keen to publicize their green credentials have even more reason to tread carefully, say Marcus Navin-Jones and Juge Gregg at Crowell & Moring.
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£43M Legal Bill Case Shows Courts' View On Exchange Rates
A recent Court of Appeal decision declined to change the currency used for payment of the Nigerian government's legal bill, aligning with British courts' consensus that they should not be concerned with how fluctuating exchange rates might benefit one party over another, says Francis Kendall at Kain Knight.
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Examining The EU's New Payments Services Package
Following recent European Parliament elections, the spotlight is turning to the highly anticipated payments services package expected in September, marking a pivotal moment in the legislative process that will reshape the payment services ecosystem in the European Union, says Kristýna Tupá and Karolína Hlavinková at Schoenherr.
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Examining The State Of Paccar Fixes After General Election
Following the U.K. Supreme Court's Paccar decision last year, which made many litigation funding agreements for opt-out collective actions in the Competition Appeal Tribunal unenforceable, the judiciary will likely take charge in implementing any fixes — but the general election has created uncertainty, says Ben Knowles at Clyde & Co.
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EU Reports Signal Greenwashing Focus For Financial Sector
Reports from the European Supervisory Authorities on enforcement of sustainability information, plus related guidance issued by the European Securities and Markets Authority, represent a fundamental change in how businesses must operate to maintain integrity and public trust, say Amilcare Sada and Matteo Fanton at A&O Shearman.
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Opinion
Without Change, Fighting Fraud Is A Losing Battle For The UK
To successfully fight fraud cases in the U.K. — like the Russian Coms scam recently shut down by the National Crime Agency — it is clear there needs to be significant investment in recruiting and training expert investigators, and meaningful engagement between the country’s intelligence platforms, says Anthony Hanratty at Howard Kennedy.
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Embedding Consumer Duty: 6 Areas Firms Should Prioritize
The Financial Conduct Authority has repeatedly emphasized that complying with the Consumer Duty is not a tick-box exercise but an ongoing responsibility, so firms need to show that the duty is at the heart of their practices by staying compliant in areas from cultural change to customer vulnerability, say Nicola Higgs and Becky Critchley at Latham.
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2 UK Rulings Highlight Persistent Push Payment Fraud Issues
Two recent High Court decisions, Larsson v. Revolut and Terna DOO v. Revolut, demonstrate that authorized push payment fraud continues to cause headaches for consumers and financial institutions alike, and with forthcoming mandatory reimbursement requirements, more APP fraud litigation can be expected, say lawyers at Charles Russell.
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Open Questions 3 Years After 2nd Circ.'s Fugitive Ruling
The Second Circuit’s 2021 decision in U.S. v. Bescond, holding that a French resident indicted abroad did not meet the legal definition of a fugitive, deepened a circuit split on the fugitive disentitlement doctrine, and courts continue to grapple with the doctrine’s reach and applicability, say attorneys at Lankler Siffert.
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Key Points From UK Prospectus Regime Reform Consultation
The Financial Conduct Authority's current consultation on U.K. prospectus regime reform proposals, including when a prospectus will be required and the requirements concerning content, is designed to enhance the attractiveness of the U.K.'s capital markets, say lawyers at Sullivan & Cromwell.
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Why NCA's 1st Seizure Of Sanctioned Funds Is Significant
The National Crime Agency’s recently secured forfeiture of a Russian oligarch's sanctioned funds was a landmark achievement, and is particularly notable because it was made under the Proceeds of Crime Act, illustrating how U.K. authorities can coordinate their respective powers to confiscate assets, says Lindsey Cullen at WilmerHale.
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Takeaways From New FCA Rules On Research Payments
The Financial Conduct Authority’s recently published final rules on payment optionality for investment research, which involve a client disclosure obligation option, will be welcome news for U.K. managers who buy investment research from U.S. brokers, and for global asset management groups, says Anna Maleva-Otto at Schulte Roth.