Financial Services UK

  • July 11, 2025

    Ex-Insurance CEO's Wife Can't Ax £15M Asset Freeze

    A London appeals court upheld a £15 million ($20.3 million) asset freeze on Friday against the wife of a former insurance company executive who is accused of cashing in on money her husband siphoned off from the business.

  • July 11, 2025

    Staley Tribunal Decision Could Fuel Challenges To FCA Fines

    A landmark tribunal ruling that upheld the Financial Conduct Authority's ban of ex-Barclays CEO James "Jes" Staley from banking — but slashed his fine — could ultimately lead other executives with back-loaded pay packages to fight the watchdog's decisions, lawyers say.

  • July 10, 2025

    Rusal Can Serve Claim On Abramovich Via Oligarch's Lawyers

    A London judge on Thursday approved Russian aluminum giant Rusal to serve a claim on Russian oligarch Roman Abramovich via his lawyers over alleged breaches of an agreement setting out the governance of a Russian mining company.

  • July 10, 2025

    UK Watchdog Investigating Deloitte, Azets Over Stenn Audits

    The U.K. accounting watchdog said Thursday it has started investigations into accounting firms Azets Audit Services Ltd. and Deloitte LLP over their audit of U.K. invoice financing firm Stenn Assets, which collapsed in 2024 after a lender found suspicious transactions.

  • July 10, 2025

    Swiss PE Group To Buy Stake In Indian Lender For $228M

    Swiss private equity shop Partners Group said Thursday that it has agreed to acquire a "significant majority stake" in Infinity Fincorp Solutions, a non-bank lender in India, for 19.5 billion Indian rupees ($228 million).

  • July 10, 2025

    Aegon Urges Bold Pension Reforms In Anticipated UK Review

    The U.K. government should launch its pensions adequacy review as part of its annual financial services strategy announcement next week, an insurer said Thursday.

  • July 10, 2025

    FCA Plans Investor Rule Overhaul To Boost Capital Markets

    The Financial Conduct Authority said Thursday that it will amend its client categorization rules in a bid to encourage wealthy and experienced investors to plow more cash into London's ailing equity capital markets.

  • July 10, 2025

    BoE Head Bailey Opposes Gov't Pension Investment Mandate

    The governor of the Bank of England has said he disagrees with the idea of requiring pension funds by law to invest in U.K. assets, in an intervention that experts say could have a knock-on effect for flagship legislation for the sector.

  • July 10, 2025

    Clifford Chance Guides Jupiter's £100M CCLA Deal

    London-listed Jupiter Fund Management PLC said Thursday that it will buy ethical investment company CCLA for £100 million ($136 million) in a bid to break into managing assets in the non-profit sector.

  • July 09, 2025

    Sweden Wins €60M Pension Fraud Case Against Financier

    A London court has ruled that a financier defrauded the Swedish government by setting up an illegitimate investment fund that took €60.7 million ($71.1 million) from savers' pension accounts.

  • July 09, 2025

    British Airways Pensions Biz Unfairly Sacked Investment Exec

    An employment tribunal has ruled that British Airways' pensions unit botched an investigation into a senior investment specialist over a confidential email he sent to himself during a workplace restructuring dispute, even though the employee was partly responsible for his ultimate dismissal.

  • July 09, 2025

    Authorities Urged To Stagger Local Gov't Pension Fixes

    The U.K. government should stagger the raft of proposed fixes to the Local Government Pension Scheme so as not to overwhelm administrators, Hymans Robertson has warned, calling for expectations to be realistic.

  • July 09, 2025

    BoE Flags Cyber Risk Blind Spots In Stress Test

    The Bank of England's regulatory arm has warned companies that financial firms are ill-prepared for a cyberattack that threatens timely settlements.

  • July 09, 2025

    Crédit Agricole Nets €183M In Exit From Loto Owner

    French insurer Crédit Agricole said Wednesday that it has sold its remaining stake in FDJ United for approximately €183.3 million ($215 million), marking its exit from the international lottery gaming operator.

  • July 09, 2025

    Mastercard Unit Fined £12M Over Compliance Failures

    The Bank of England said Wednesday that it has slapped an £11.9 million ($16.2 million) fine on Mastercard's U.K. payment systems operator Vocalink, in what the central bank called a first for a financial infrastructure company.

  • July 09, 2025

    Nigerian Bank Owner Guaranty Trust Debuts In London

    Guaranty Trust Holding Company PLC, the parent of Nigerian lender GTBank PLC, said Wednesday that it has started trading on the London Stock Exchange's main market for listed securities, after raising $105 million through a share sale.

  • July 09, 2025

    LSE Needs Global Reach To Revive Floats, Industry Warns

    The London Stock Exchange needs to work at attracting secondary listings from overseas issuers to offset a thinning flow of domestic flotations, a leading British industry group said Wednesday.

  • July 08, 2025

    Ex-BofA Exec Sues For Bias Over Workplace Affair Fallout

    A former Merrill Lynch director has failed to keep his name out of tribunal proceedings against the bank in his claim alleging he was unfairly dismissed and discriminated against following a workplace relationship that ended in acrimony.

  • July 08, 2025

    EU Markets Regulator Unveils Plan To Cut Emissions By 2030

    Europe's financial markets watchdog published Tuesday its first climate transition plan as a step toward meeting the European Union's climate objectives.

  • July 08, 2025

    Underwriters Back FCA Move To Pare Back Insurance Rules

    A trade group representing underwriters in London has backed plans floated by the Financial Conduct Authority to ax unnecessary requirements from its insurance rule book, but said areas of the proposals require clarification.

  • July 08, 2025

    Insurance Consultancy BW Acquires Cybersecurity Firm

    Barnett Waddingham said Tuesday it has acquired advisory business Risk Evolves, a move the insurance consultancy expects will strengthen its offering for clients.

  • July 08, 2025

    Monzo Bank Fined £21M For Financial Crime Failings

    The Financial Conduct Authority said Tuesday that it has fined Monzo Bank £21 million ($28.6 million) for failings in financial crime controls between October 2018 and August 2020.

  • July 07, 2025

    Law Firm Gets 'Vague' £4.6M Negligence Case Struck Out

    A London court struck out on Monday an energy company's £4.6 million ($6.3 million) claim against Benson Mazure LLP, because the law firm would have unreasonable difficulty understanding and responding to the "vague and confused" case.

  • July 07, 2025

    PRA Flags Risks In Pension Deals Over Solvency Clauses

    The regulatory arm of the Bank of England has warned the insurance industry that certain clauses in the terms of bulk purchase annuity transactions could expose them to risks totaling approximately £50 billion ($68 billion).

  • July 07, 2025

    Pension Regulator Teams With Industry On Net-Zero Transition

    The Pensions Regulator said Monday it will work with workplace pension schemes and financial advisers to develop a format for occupational pension schemes to develop voluntary transition plans in line with the government's aim to reach net-zero by 2050.

Expert Analysis

  • What EU Bank Regulator's Letter Means For Crypto Providers

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    A recent letter from the European Banking Authority notes a need to avoid dual authorization for e-money token transactions under European Union payment services and cryptocurrency regulations, which could result in a high regulatory burden for crypto-asset service providers and leaves open questions for future political negotiations, say lawyers at Morgan Lewis.

  • How Regulators Want Online Platforms To Fight Finance Fraud

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    Recent statements from the International Organization of Securities Commissions and the European Securities and Markets Authority make clear that online platform providers are expected to adopt proactive measures to prevent the promotion of unauthorized financial services and related misconduct, say lawyers at Taylor Wessing.

  • FCA Notes Industry Criticism But Keeps Transparency Focus

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    The Financial Conduct Authority’s recently updated enforcement guide finally gives up the "naming and shaming" public interest test, demonstrating that the regulator has recognized the industry's serious concerns while maintaining less contentious aspects of its proposals to improve transparency in investigations, say lawyers at Irwin Mitchell.

  • Anticipating A Shift In CMA Merger Control Enforcement

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    As the Competition and Markets Authority outlines plans to put the U.K. government's growth objectives into action, the changes may well pave the way for a more permissive outlook for review of mergers and acquisitions in the U.K., say lawyers at A&O Shearman.

  • Court Backing Of FCA Pensions Ruling Sends Key Message

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    The Upper Tribunal’s recent upholding of the Financial Conduct Authority's decisions against CFP Management directors serves as a judicial endorsement of the regulator’s approach to defined benefit transfers, underscoring that where the advisory model is fundamentally flawed, the consequences for those in control can be severe, say lawyers at RPC.

  • Saxon Woods Ruling Tightens Rules On Director Good Faith

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    The recent Court of Appeal judgment in Saxon Woods v. Costa departs from the High Court's ruling, clarifying that a director's sincere belief they have acted in the company’s best interests is not sufficient to satisfy the statutory requirement to act in good faith, say lawyers at Covington.

  • Key Points From HMRC's Tax Reform Proposals

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    Although HM Revenue & Customs’ recent proposals for reform of U.K. transfer pricing and permanent establishment rules align with the latest international consensus, certain amendments may lead to future controversy, say lawyers at Skadden.

  • What To Note As UK Adopts OECD Crypto Disclosure Rules

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    With the U.K.’s recent announcement that it will adopt the Organization for Economic Cooperation and Development's crypto-asset reporting framework, users and providers will benefit from understanding the context surrounding the decision and the framework's intended goal of clamping down on tax evasion, say lawyers at Brown Rudnick.

  • Comparing Stablecoin Bills From UK, EU, US And Hong Kong

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    For multinational stablecoin issuers, navigating the differences and similarities among regimes in the U.K., EU, Hong Kong and U.S., which are currently unfolding in several key ways, is critical to achieving scalable, compliant operations, say attorneys at Morgan Lewis.

  • How UK Law Firms Can Counter Money Laundering Threat

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    With figures released in May showing that money laundering was the biggest source of fraud in the U.K. last year, law firms should focus on internal identification and prevention strategies, considering the scale and nature of potential risk exposure depends on several business factors, says Niall Hearty at Rahman Ravelli.

  • Key Takeaways As EU And UK Impose New Russia Sanctions

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    The European Union and U.K.’s new sanctions on Russia, designating increasing numbers of non-Russian companies in the defense and shipping sectors, mean that organizations must examine from the outset whether a transaction has any nexus with the EU or the U.K., say lawyers at Sullivan & Cromwell.

  • Pension Schemes Bill's Most Notable, Controversial Measures

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    The long-awaited Pension Schemes Bill recently introduced to Parliament creates a framework for harnessing money saved in U.K. workplace pension funds to grow the country’s economy, but provisions relating to local government pension scheme investment, and scale and asset allocation, are controversial, says Claire Dimmock at Squire Patton.

  • What New FCA Private Stock Market System Could Offer Cos.

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    While the Financial Conduct Authority’s new secondary private stock market system will bring more control and less ongoing regulatory compliance than a public market, but because the regime grants a significant degree of flexibility to operators it may be some time before a full operational picture emerges, says Iain Wright at Morgan Lewis.

  • Fraud Office Guidance Highlights Value Of Self-Reporting

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    New guidance from the U.K.'s Serious Fraud Office on corporate self-reporting, cooperation and deferred prosecution agreements provides a useful framework for companies navigating criminal investigations and their potential resolutions — and underscores that corporations that self-report are in a better position to obtain DPAs than those that do not, say lawyers at Skadden.

  • Open Questions As FCA Prepares Buy Now, Pay Later Rules

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    HM Treasury’s recent response to its consultation on buy now, pay later lending regulation is clear on policy, but with rules still to be set by the Financial Conduct Authority it is difficult for firms to plan for change, and they should take advantage now of the opportunity to liaise with the regulator, say lawyers at Hogan Lovells.

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