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Financial Services UK
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September 15, 2025
Employers Expect Budget Reform On Pension Salary Sacrifice
Nine out of 10 U.K. employers expect the government to ditch tax breaks on pension salary-sacrifice arrangements when it unveils its autumn Budget, a survey has found.
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September 15, 2025
Watchdog Launches Program To Improve Audit Sector
Britain's accounting watchdog launched a program on Monday that it said would bring together projects that are designed to drive improvements in the audit sector.
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September 15, 2025
Banker Sues Saudi Magnate Over £14M Shares Transfer
A Tunisian-Swiss investment banker has sued a Saudi tycoon for 53 million Saudi riyals ($14 million), alleging that the Arabian mogul unlawfully transferred shares he held as a nominee for the financier to one of his own businesses.
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September 12, 2025
Another Investor Settles In $2.1B Danish Tax Fraud Case
A U.S. investor and two of his alleged pension plans have settled claims by Denmark's tax agency accusing them of participating in a $2.1 billion scheme that fraudulently claimed refunds on tax withheld from stock dividends, with a New York federal court dismissing the allegations.
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September 12, 2025
Businessman Can Sue Fund In UK To Stop Luxembourg Claim
A London court ruled Friday that a businessman can sue a Luxembourg investment fund in England over allegations that he was partly responsible for the fund underselling a company by as much as £80 million ($108 million).
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September 12, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen former Master Chef presenter Gregg Wallace sue the BBC, Elon Musk's xAI take legal action against a staff engineer, and fashion mogul Kevin-Gerald Stanford file a fresh claim against Lion Capital-owned Klotho and EY amid a long-running All Saints share acquisition dispute.
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September 12, 2025
Ex-AIG IT Pro's Claim Struck Out Over Courtroom Misconduct
A former AIG software developer on Friday had his whistleblowing claims against the insurer struck out after accusing a judge of perverting the course of justice, eating a meal during a hearing and calling a London tribunal a "circus."
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September 12, 2025
Third Point Completes Deal To List Reinsurance Biz On LSE
Third Point Investors Ltd. said Friday that it has completed a reverse takeover of Malibu Life Reinsurance SPC under which the hedge fund will become a London-listed reinsurance company, despite opposition from a large group of shareholders.
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September 12, 2025
Squire Patton Leads £23M Welcome Break Pension Deal
British motorway service station operator Welcome Break Group Ltd. has finalized a £23 million ($31.2 million) full-scheme buy-in of its pension plan with Just Group, the financial services company said Friday.
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September 12, 2025
Sabadell Tells Shareholders To Reject €17.4B BBVA Takeover
Spanish lender Banco Sabadell told its shareholders on Friday to reject a €17.4 billion ($20.4 billion) hostile takeover from rival BBVA as it said that the deal is full of risk and uncertainty and undervalues the group.
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September 11, 2025
Metro Bank Settles £24M Claim Over Coin-Counting Software
Metro Bank has settled a copyright infringement and licensing spat with software company Arkeyo, which had accused the bank of sharing source code for its coin-counting machines without permission.
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September 11, 2025
FCA Official Outlines Risk-Based Approach To Financial Crime
Fighting financial crime isn't a barrier to growth but a prerequisite for economic investment, a senior official at the Financial Conduct Authority said on Thursday, as he outlined plans to take a "risk-based" approach to cracking down on fraud.
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September 11, 2025
Pensions Managers Urged To Boost Standards For Savers
Pensions administrators must invest more to modernize their data systems and trustees should play a stronger role in raising standards to help the sector make improvements, the retirement savings watchdog warned on Thursday.
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September 11, 2025
BlackRock, Pictet Back Swiss Marketplace's $1.3B IPO
Online marketplace owner SMG said on Thursday that it expects to raise up to approximately 1.04 billion Swiss francs ($1.3 billion) in its initial public offering scheduled to take place on the SIX Swiss Exchange on Sept. 19.
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September 11, 2025
Social Mobility Data Needed To Tackle Pensions Skill Shortage
Recording social mobility data in the financial services sector would broaden talent pools across various companies and address the predicted skills shortage over the next decade, a pensions trade body has said.
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September 11, 2025
Watchdog Launches Program To Help Small Audit Firms Grow
Britain's accounting watchdog initiated a program on Thursday that it said would help small audit businesses to improve their inspections of larger companies, as part of its broader bid to improve variety in the market.
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September 11, 2025
Liquidators Can't Contractually Limit Liability To VC Funds
A London court has ruled that the former liquidators of three venture capital funds cannot contractually limit their liability to the companies over claims that they enabled the managers of the funds to siphon off shareholders' assets.
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September 11, 2025
Prudential Must Pay VAT On Investment Firm's Success Fees
Britain's highest court ruled Thursday that payments of £9.3 million ($12.5 million) made by Prudential to an investment firm are taxable under value-added tax regulations because the liability was incurred when they were not part of the same group for tax purposes.
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September 11, 2025
HCR-Led Tavistock Buys Financial Adviser For Up To £10M
Tavistock said Thursday that it has acquired a controlling stake in Lifetime Financial Management Intermediaries Ltd., a financial advisory company, for up to £9.9 million ($13.4 million), in a move to expand its consultancy services.
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September 11, 2025
Latham, Cederquist Guide NOBA Bank's $3.7B Swedish IPO
Swedish lender NOBA Bank said Thursday that it plans to re-list on the Stockholm stock exchange in a flotation that it expects to value the company at 35 billion Swedish kronor ($3.7 billion)
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September 10, 2025
UK Gov't Rebuffs Lawmaker Calls To Reform Lifetime ISAs
The government shrugged off calls to reform the rules around Lifetime ISAs on Thursday, despite warnings that millions of Britons may have been wrongly sold the long-term savings product.
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September 10, 2025
FCA Weighs Changing Rules To Boost Contactless Payments
Britain's financial regulator said Wednesday that it is considering changes to the rules that will give companies the power to set their own contactless payment limits.
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September 10, 2025
FCA Hauls 3 'Finfluencers' To Court For Illicit Forex Promotion
Three individuals charged with advertising unauthorized investment opportunities in foreign exchange markets on social media made their initial court appearance Wednesday as part of what the Financial Conduct Authority said was a wider global crackdown on illegal online promotions.
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September 10, 2025
Pinsent Masons Guides £105M Materials Co. Pension Deal
Legacy pension plans for the industrial materials giant Mativ Holdings Inc.'s U.K. arm have completed two full-scheme buy-ins worth £105 million ($142 million) with Rothesay Life PLC, the insurer has said.
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September 10, 2025
Lawmakers Float Plan To End Lifeboat Fund Admin Levy
The Liberal Democrats said Wednesday that they have backed reform that will see the permanent removal of a controversial levy on pension providers which funds the administrative expenses of the sector's lifeboat program.
Expert Analysis
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Takeaways From Upcoming Payment Fraud Delay Legislation
Lawyers at Hogan Lovells discuss what to know about new legislation that will allow payment service providers to delay payments when third-party fraud is suspected, and share pointers for providers to consider ahead of the Oct. 30 effective date.
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Modernizing UK Trade Settlement Standard: The Road Ahead
Andrew Tsang and Tom Bacon at BCLP consider the rationale and challenges of a potential U.K. trade settlement acceleration, part of an initiative to modernize the financial market infrastructure, and suggest that incorporating distributed ledger technology as a synchronized recording system would facilitate the move.
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Analyzing The Implications Of 1st FCA Crypto ATM Crackdown
The Financial Conduct Authority’s recent criminal prosecution of Olumide Osunkoya, its first enforcement action against a crypto-asset trading firm's owner, is an unambiguous sign of the regulator’s commitment to actively pursue transgressors, but may be a hindrance to the U.K. crypto industry, says Asim Arshad at Lawrence Stephens.
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Draft Merger Control Guidance Allows CMA To Cast Wide Net
The Competition and Markets Authority's recent draft merger control guidance, reflecting the regulator's strengthened powers under the Digital Markets, Competition and Consumer Act, introduces extensive change and potential procedural improvements, specifically concerning reviews of private equity firms, say lawyers at Travers Smith.
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Key Points From Cayman's Beneficial Ownership Regime
While recent expansion of the Cayman Islands Beneficial Ownership Act's scope means it now encompasses many entities with previously minimal obligations, the changes ensure a welcome level playing field with workable alternative routes to compliance, says Lucy Frew at Walkers Global.
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HMRC Transfer Pricing Guide A Vital Resource For Businesses
HM Revenue & Customs' recent guidelines on common transfer pricing compliance risks should be required reading for affected businesses in indicating HMRC's expected benchmark for documents and policies, say Tomoko Ikawa and Kapisha Vyas at Simmons & Simmons.
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Insights From FRC's Report On Good Corporate Governance
Although the Financial Reporting Council’s recent report on private companies opting to follow the Wates principles has identified improvements, it is important for organizations to provide transparent disclosures and avoid boilerplate, tickbox filings, says Tessa Hastie at BCLP.
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What To Know About The UK Overseas Funds Regime
The U.K.’s overseas funds regime is now open for applications, providing a simplified way of offering a foreign fund to U.K. retail investors, and the Financial Conduct Authority's clear policy statement on implementation should ease the transition process from the existing scheme, say lawyers at Dechert.
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Takeaways From SRA Consumer Protection Review
While the Solicitors Regulation Authority prepares to announce its findings later this year following its consumer protection consultation, the topic of handling client funds is very much alive in the legal industry, with polarizing views on what should happen as a result of the review, says Claire Van Der Zant at Shieldpay.
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Reflecting On 12 Months Of The EU Foreign Subsidy Regime
New European Commission guidance, addressing procedural questions and finally providing clarity on “distortion” in merger control and public procurement, offers an opportunity to reflect on the year since foreign subsidy notification obligations were introduced, say lawyers at Fried Frank.
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What Updated Guide Means For Jersey's Private Funds
The Jersey Financial Services Commission's recent updates to the Jersey Private Fund Guide clarify existing provisions and introduce new requirements for fund managers, service providers and investors, demonstrating a clear commitment to maintaining Jersey's reputation as an attractive jurisdiction for investment, say lawyers at Walkers Global.
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The Road Ahead For Tokenized Investment Funds In The UK
With an HM Treasury working group expected to release the final phase of a road map for tokenized investment funds by the end of the year, Andrew Tsang and Tom Bacon at BCLP discuss the advantages for investors and fund administrators, the proposed model for implementation, and what the regulatory landscape may look like.
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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.