Financial Services UK

  • 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. 

  • June 10, 2025

    Innsworth Seeks Review Of £200M Mastercard Settlement Split

    Litigation funder Innsworth announced Tuesday it was launching a High Court challenge to how the Competition Appeal Tribunal decided to distribute a £200 million ($270 million) settlement reached between Mastercard and Walter Merricks to end litigation over credit card fees.

  • June 10, 2025

    CMS Faces £10M Negligence Claim Over Investec Debt Advice

    A property developer has alleged that law firm CMS owes him at least £10 million ($14 million) for negligent advice concerning a debt-restructuring plan that he says he never would have agreed to if he had been given proper warning.

  • June 10, 2025

    Greensill Says He Was Trapped In Katerra Restructuring Deal

    Lex Greensill said Tuesday that he was "between a rock and a hard place" in a restructuring deal involving his eponymous firm and SoftBank, a Japanese investment company, as the former banker gave evidence in a $440 million trial in London of a claim brought by a collapsed Credit Suisse fund.

  • June 10, 2025

    UK Treasury Committee Warns HMRC Over Phishing Attack

    A British treasury committee warned HM Revenue & Customs in a letter published Tuesday that its failure to report details of a breach affecting around 100,000 taxpayers is unacceptable.

  • June 10, 2025

    Apple, Sony Fight Class Reps Over New Legal Funding Deals

    Apple, Visa, Mastercard and Sony told the Court of Appeal Tuesday that funding agreements driving multiple competition class action claims in the U.K. are unlawful and unenforceable.

  • June 10, 2025

    Insolvency Service Hires Crypto-Specialist To Aid Recoveries

    A U.K. government agency responsible for investigating company insolvencies has appointed its first crypto-specialist to help recover digital assets such as bitcoin for creditors.

  • June 10, 2025

    Expanding FCA Taps Ex-Crime Agency Exec As Deputy CEO

    The Financial Conduct Authority said Tuesday that it has appointed Sarah Pritchard, a qualified litigator and former director of the National Economic Crime Centre, as deputy chief executive to handle its expanding remit.

  • June 10, 2025

    FCA's Rathi Tries To Gauge Gov't Risk Appetite For Crypto

    The Financial Conduct Authority warned a cross-party group of MPs on Tuesday it needed a steer on the government's risk appetite for crypto-assets amid the push for U.K. competitiveness and economic growth.

  • June 10, 2025

    Ex-Sky Sports Host Gets 11-Year Director Ban Over £10M Debt

    Former Sky Sports presenter Alan Bentley has been banned from running companies for 11 years after his football betting business collapsed with debts to investors of more than £10 million ($13.5 million), the Insolvency Service revealed Tuesday.

  • June 10, 2025

    FCA Unveils Rules For Private Stock Market Launch

    The Financial Conduct Authority set out rules on Tuesday for its world-first regulated stock market for private companies in the latest bid by Britain to boost growth and provide alternatives to London's ailing equity capital market.

  • June 09, 2025

    Media Biz Chair Who Misled Investors Told To Buy Out Shares

    The chairman of a media company has been ordered to buy out a minority shareholder after a London appeals court said Monday that he had deliberately deceived investors about his attempts to work towards selling the company.

  • June 09, 2025

    Lex Greensill Claims SoftBank Hid Deal With 'Code Of Silence'

    Lex Greensill testified in a $440 million London trial Monday that SoftBank, a Japanese investment company, had designed a restructuring agreement involving his firm to avoid putting potential losses on its accounts in his first public appearance since his eponymous firm's collapse.

  • June 09, 2025

    Investment Biz CEO Hit For £2.8M Over Exec's Drinks Loan

    A former executive at a U.S. subsidiary of a London investment fund is suing the firm and its founder for about $3 million after they allegedly failed to repay a short-term loan to cover the costs of the company's investment in a drinks company.

  • June 09, 2025

    Ex-Commerzbank Analyst Denies Faking Sex Assault Claims

    A former Commerzbank analyst on Monday fought claims that he lied to a court by making false sexual assault allegations in his failed harassment case against the bank, telling a London court he was being truthful.

  • June 09, 2025

    UK Leads Europe On FDI In Financial Services, EY Says

    The U.K. continues to be Europe's most attractive destination for foreign direct investment into financial services, despite a drop in the number of projects across the region, Ernst & Young said on Monday.

  • June 09, 2025

    FCA Proposes Reporting Changes For Fund Managers

    The Financial Conduct Authority has proposed that it will reduce requirements for U.K. fund managers on how they report on value for investors, a move that would enable significant cost cuts.

  • June 09, 2025

    Broking Group Howden Buys Peruvian Reinsurance Biz

    Howden Group said Monday that it has bought Peruvian reinsurance broker Innova Re, marking a further broadening of the insurance broking giant's footprint in Latin America.

  • June 09, 2025

    FCA, NVIDIA Team Up To Launch AI Testing Sandbox

    The Financial Conduct Authority said Monday it will launch a supercharged sandbox in collaboration with multinational technology company NVIDIA to help firms experiment safely with artificial intelligence to support innovation.

  • June 06, 2025

    Reality TV Gallery Owner Gets 2½ Years On Terrorism Charges

    An art gallery owner and reality TV art expert was sentenced to over two years' imprisonment at a London criminal court on Friday for failing to report his suspicions when selling around £140,000 ($189,400) worth of art to a suspected terrorist financier.

  • June 06, 2025

    UK Litigation Roundup: Here's What You Missed In London

    The past week in London has seen MGM and the owners of the "Addams Family" trademark sue a private equity firm, two Cambridge colleges file for injunctions against Pro-Palestine student protest groups and a former NBA player brings a claim against Orrick Herrington & Sutcliffe LLP.

  • June 06, 2025

    Labour Gov't Eases Carried Interest Rules On Fund Managers

    The Labour government has unveiled a series of concessions on changes to the tax rules for carried interest, the investment income passed onto fund managers, following a consultation on the plans.

  • June 06, 2025

    Court Rebukes Lawyers For Fake AI-Generated Citations

    A London court referred a barrister and solicitor to their professional regulators on Friday for citing cases that do not exist and warned that freely available generative artificial intelligence tools such as ChatGPT are not capable of conducting reliable legal research.

Expert Analysis

  • Key Points From UK Prospectus Regime Reform Consultation

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    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.

  • Why NCA's 1st Seizure Of Sanctioned Funds Is Significant

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    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.

  • Takeaways From New FCA Rules On Research Payments

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    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.

  • What To Expect From Labour's Pension Schemes Bill

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    The Labour government’s recently announced Pension Schemes Bill, outlining key policy areas affecting the retirement savings sector, represents a positive step forward for both defined contribution scheme members and defined benefit superfunds, but there are some missing features, says Sonya Fraser at Arc Pensions.

  • Int'l Treaties May Aid Investors Amid UK Rail Renationalization

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    The recently introduced Passenger Railway Services Bill seeks to return British railways to public ownership without compensating affected investors, a move that could trigger international investment treaty protections for obligation breaches, says Philipp Kurek at Signature Litigation.

  • What EU Opinion May Mean For ESG Product Classification

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    The recently issued European Supervisory Authority opinion on the Sustainable Finance Disclosures Regulation offers key recommendations, including revising the definition of sustainable investments and making principal adverse impacts consideration mandatory, that could sway the European Commission’s final approach to product classification, say lawyers at Debevoise.

  • What New UK Listing Rules Mean For Distressed Companies

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    The Financial Conduct Authority’s recently published overhaul of U.K. listing rules makes it easier for advisers to restructure distressed listed companies, and in moving to a more disclosure-based approach, simplifies timelines and increases opportunities for investors, say Kate Stephenson and Sarah Ullathorne at Kirkland & Ellis.

  • AI Reforms Prompt Fintech Compliance Considerations

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    With the EU Artificial Intelligence Act's Aug. 1 enforcement, and the U.K.'s new plans to introduce AI reforms, fintech companies should consider how to best focus limited resources as they balance innovation and compliance, says Nicola Kerr-Shaw at Skadden.

  • Irish Businesses Should Act Now To Prepare For EU AI Act

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    Artificial intelligence is increasingly transforming the Irish job market, and proactive engagement with the forthcoming European Union AI Act, a significant shift in the regulatory landscape for Irish businesses, will be essential for Irish businesses to responsibly harness AI’s advantages and to maintain legal compliance, say lawyers at Pinsent Masons.

  • EU Investment Fund Standards Offer Welcome Clarity

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    The European Commission’s recently published regulatory technical standards for long-term investments, which granted managers greater flexibility with respect to open-ended European long-term investment funds, should help managers active in the space navigate the mandatory liquidity requirements for long-term investment funds, say Zac Mellor-Clark and Nishkaam Paul at Fried Frank.

  • Unpacking The New Concept Of 'Trading Misfeasance'

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    In addition to granting one of the largest trading awards since the Insolvency Act was passed in 1986, the High Court recently introduced a novel claim for misfeasant trading in Wright v. Chappell, opening the door to liability for directors, even where insolvent liquidation or administration was not inevitable, say lawyers at Greenberg Traurig.

  • Key Takeaways From Proposed EU Anticorruption Directive

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    The European Commission's anticorruption proposal, on which the EU Council recently adopted a position, will substantially alter the landscape of corporate compliance and liability across the EU, so companies will need to undertake rigorous revisions of their compliance frameworks to align with the directive's demands, say lawyers at Linklaters.

  • How Regulation Of Tech Providers Is Breaking New Ground

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    The forthcoming EU regulation on digital operational resilience and the U.K. critical third-party regime, by expanding the direct application of financial services regulation to designated technology providers, represent a significant development that is not to be underestimated, say David Berman and Emily Lemaire at Covington.

  • What EU Net-Zero Act Will Mean For Tech Manufacturers

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    Martin Weitenberg at Eversheds Sutherland discusses the European Council’s recently adopted Net-Zero Industry Act and provides an overview of its main elements relevant for net-zero technology manufacturers, including benchmarks, enhanced permitting procedures and the creation of new institutions.

  • Complying With EU Commission's Joint Purchasing Rules

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    One year after the European Commission released its revised guidelines on horizontal cooperation agreements, attorneys at Crowell & Moring reflect on the various forms such agreements can take, and how parties can avoid structuring arrangements that run afoul of competition law.

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