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Financial Services UK

FCA Auto Finance Redress Plan Open To Legal Challenge

Banks and vehicle financing companies are expected to mount legal challenges to the Financial Conduct Authority's £7.5 billion ($9.9 billion) motor finance compensation program, threatening to capsize the plan and probably delay its implementation for months.

Home Office sign outside the ministry's building in Whitehall, London.

Fraud Plan Puts FCA At Forefront Of UK Crypto-Crackdown

The Financial Conduct Authority has been given a lead role in targeting money laundering, crypto-assets and money transfer scams in a government fraud strategy involving multiple agencies, which lawyers expect will boost enforcement action and heap a new compliance burden on financial institutions.

Double exposure of coins in stacks with bar graph for financial and investment business in the background.

M&A, Deregulation Bring Reset To UK Asset Management

Consolidation of the asset management sector is ramping up as U.S. firms seek access to the domestic market and U.K. watchdogs loosen regulation in line with government-mandated pro-growth policies, which is expected to accelerate a spurt in dealmaking.

Ombudsman Poised To Take Consumer Duty Power From FCA

Pending legislative reforms to the Financial Ombudsman Service could hand the dispute-arbitrator power to assess whether businesses have complied with the consumer duty and other broad rules set by the Financial Conduct Authority, regulatory lawyers say.

April 01, 2026
FCA's Palantir Tie-Up May Foreshadow Wider AI Uptake

The Financial Conduct Authority's decision to open its doors to Palantir could write the script for other agencies to follow as law enforcement and regulators embrace artificial intelligence technology to do more with less, lawyers say.
April 01, 2026
Sports Biz Owners Defeat JV's Fraud Claim Over $715M Deal

The former owners of a collapsed sports media business have defeated a fraud claim after a court found they had not misrepresented the financial health of the company to convince a joint venture to buy a majority stake for $715 million.
April 01, 2026
BoE Finds More Finance Firms Challenged By AI

The Bank of England reported Wednesday a significant rise in industry views that artificial intelligence is the most challenging risk to manage and the most likely to happen as it published its latest survey on protecting the stability of the financial system.
April 01, 2026
Dentons Snaps Up Kirkland Lawyer In London

Dentons said Wednesday that it has appointed Kirkland & Ellis International LLP lawyer Jack Donelan as a corporate partner in London, a move it expects will strengthen its practice.
April 01, 2026
BoE Hands Plan For Safe AI Regulation In 2026 To Chancellor

The Bank of England set out in a letter to the chancellor on Wednesday the details of a regulatory program to facilitate safe innovation in the artificial intelligence industry.
April 01, 2026
Justices Undo Finance Co.'s Liability For Investment Losses

A financial company cannot be held liable for £1.7 million ($2.3 million) in losses from failed property investments, Britain's top court ruled Wednesday, finding that it wasn't responsible for the actions of the firm it appointed to set up the projects.
April 01, 2026
British Business Bank Raises £200M For Venture Capital Fund

British Business Bank said Wednesday that its venture capital investment vehicle has achieved its first close of £200 million ($266 million) after winning backing from three U.K. pension funds.
April 01, 2026
Asset Manager Beats Ex-VP's Appeal Over Ill-Health Firing

An asset management firm has persuaded a London appeals tribunal to reject the latest attempt by a former senior vice president to show that his dismissal for ill health was an act of disability discrimination.
April 01, 2026
Mega-Deals Hit Record In 1st Quarter Of 2026, WTW Says

Global mergers and acquisitions rebounded "with a vengeance" in the first three months of 2026, Willis Towers Watson said Wednesday, fueled by a record number of blockbuster transactions even though corporate buyers face global geopolitical turmoil and market volatility.
April 01, 2026
Mercia Asset Management Launches £3M Buyback Program

Mercia kicked off on Wednesday a share buyback program worth up to £3 million ($4 million) to return cash to the asset manager's investors and reduce share capital.
April 01, 2026
Japan Post To Take 2.9% Stake In UK Asset Manager

Investment manager Ashmore Group has agreed a partnership with Japan Post Insurance Co. Ltd. in which the insurer would acquire a stake of up to 2.9% in the group and invest $1 billion in its managed emerging market funds.
April 01, 2026
Fintech Biz IG Kicks Off 1st Phase Of £125M Share Buyback

IG Group Holdings PLC rolled out a share repurchase program worth up to £62.5 million ($83 million) on Wednesday, the first phase of the financial technology company's wider £125 million buyback plan designed to downsize its share capital.
March 31, 2026
57% Of Pension Plans Mull Surplus Extraction, L&G Says

Some 57% of defined benefit pension schemes in the U.K. are considering using surplus extraction amid rising funding levels and forthcoming legislation designed to allow plans to invest billions of pounds tied up in retirement saving plans, Legal & General said Tuesday.
March 31, 2026
Dispute Funder LCM Warns Of Uncertainty After Case Losses

Litigation Capital Management Ltd. said Tuesday that there is still "material uncertainty" over whether the Australian disputes funder can continue to receive support from its lender, as it looks to recover after investing in a series of loss-making cases.
March 31, 2026
Engineer Extends Blackstone Consortium Offer Deadline

Engineering group Senior PLC said Tuesday that its board and the Takeover Panel have extended the deadline for a consortium comprising private equity giant Blackstone and investment company Tinicum to formally make or cancel a takeover approach.
March 31, 2026
Howden To Buy Hymans Robertson Insurance Consulting Unit

Howden Group Holdings said Tuesday that it has agreed to acquire the insurance and financial services consulting team of Hymans Robertson LLP to create a new actuarial and longevity advisory business for insurers.
March 31, 2026
Largest UK Pension Funds Reconsidering Insurance Deals

A majority of the U.K.'s largest defined benefit pension funds are now looking at alternative options to striking an insurance deal, a survey has found, as the government prepares to push through new rules that will allow £160 billion ($212 billion) to be reinvested into the economy.
March 31, 2026
Rosebank Industries Seeks Move To Main Market From AIM

Rosebank Industries PLC confirmed Tuesday that it plans to shift to the main market of the London Stock Exchange from the LSE's junior investment platform, potentially paving the way for the company to join the FTSE index.
March 30, 2026
Windhorst Given 1.5-Year Contempt Sentence Over €27M Debt

German entrepreneur Lars Windhorst was given an 18-month suspended prison sentence after being held in contempt in a London court Monday for refusing to attend a hearing to provide evidence of his company's assets after it failed to pay €27 million ($31 million).
March 30, 2026
Retailer Says UniCredit Can't Have €42M Asset Fight In Russia

A fashion retail outlet urged an appeals court Monday to block Russian proceedings by UniCredit aimed at taking some of its roughly €42 million ($50 million) property portfolio, arguing the matter needed to be dealt with via a Vienna arbitral tribunal.
March 30, 2026
FCA Unveils £7.5B Motor Finance Redress Scheme

The Financial Conduct Authority said Monday that it would go ahead with a £7.5 billion ($9.9 billion) motor finance redress program as it outlined how millions of consumers can claim compensation for wrongly sold car finance.
March 30, 2026
FRC Issues Guidance For Audit Firms On Use Of Generative AI

Britain's accounting regulator issued guidelines for audit firms on Monday outlining how they can benefit from generative and agentic artificial intelligence tools as well as cut associated risks to improve the quality and efficiency of audit work.
March 30, 2026
UK Pension Buy-Ins Hit Record 367 Deals In 2025, LCP Says

The U.K.'s pension risk transfer market posted a record number of buy-in deals in 2025, even as the overall value of transactions fell from the previous two years because fewer blockbuster agreements were completed, Lane Clark & Peacock LLP said.
March 30, 2026
UK Regulators To Target Poor Motor Finance Claims Practices

The Financial Conduct Authority said Monday that it has launched a joint taskforce with the Solicitors Regulation Authority and other regulators to tackle poor handling of claims for motor finance compensation by some claims management companies and law firms.
March 30, 2026
Pensions Law Firm Arc Promotes Legal Director To Partner

Arc Pensions Law said Monday that legal director Kris Weber has become a partner at the specialist boutique firm.

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

Carillion Fines Show FCA's Broad View Of Directors' Duties

The Financial Conduct Authority’s recent issuing of final notices to Carillion’s former group CEO demonstrates that executive directors cannot recklessly allow misleading public announcements that undermine market confidence, says Wendy Saunders at Lewis Silkin.
Assessing Potential Legal Claims From Private Credit Turmoil

Amid the downturn in the private credit markets spurred by multiple high-profile bankruptcies, a New York lawsuit stemming from the collapse of First Brands provides an important case study for investors to help minimize future losses and maximize any potential recovery in the event of a private credit default, say attorneys at Bleichmar Fonti.
What New FCA Rules Mean For Deferred Payment Providers

New rules from the Financial Conduct Authority requiring deferred payment credit providers to obtain a financial services license have two notable implications: providers will be subject to full compliance with the regulator’s consumer duty, and must meet its organizational and governance requirements, says Alix Prentice at Cadwalader.
FCA Stablecoin Sandbox Indicates Shift In Crypto Regulation

The Financial Conduct Authority’s recent decision to use four companies to test stablecoin models within its regulatory sandbox provides a mechanism for testing real-world use cases, and shines a light on the U.K.'s broader strategy in the context of global stablecoin legislation, says Ben Lee at Andersen.
Who Will Be 1st To Prosecute New Corporate Fraud Offense?

With no prosecutions under the failure to prevent fraud offense six months on from its introduction, lawyers at BCL Solicitors explore the front-runners in the race to prosecute, and consider whether a private prosecutor might beat a state prosecuting authority to the finish line.
Crypto-Asset Market Downturn Is Driving Litigation Risk

Recent volatility in the crypto-asset market has placed a strain on balance sheets and laid bare weaknesses that may have been overlooked during more stable periods, increasing the risk for disputes over whether procedures or enforcement have been carried out correctly, say lawyers at Kennedys.
Decoding Arbitral Disputes: UK Top Court On State Immunity

The U.K. Supreme Court's recent ruling denying Spain's and Zimbabwe's bids to escape arbitration awards using state immunity claims provides significant clarification of the relationship between sovereign immunity and the International Centre for Settlement of Investment Disputes system, and reinforces the finality and enforceability of ICSID awards, says Josep Galvez at 4-5 Gray's Inn.
FCA's £44M Nationwide Fine Highlights AML Control Gaps

The Financial Conduct Authority’s recent £44 million fine of Nationwide Building Society for anti-money laundering control failures demonstrates that where a firm does not implement appropriate policies and remediation projects, there is a risk that noncompliance will remain unaddressed, say lawyers at Taylor Wessing.
How UK Securitization Reforms Will Affect Industry

The Prudential Regulation Authority’s recent proposals to reform securitization requirements will offer greater structuring flexibility, reduced operational complexity and lower compliance costs, although with the rationale for imposing stand-alone obligations on institutional investors not clear, dissenting voices are likely, say lawyers at Skadden.
FCA's HTX Action Shows Crypto Ad Rules Must Be Followed

The Financial Conduct Authority’s London High Court action against global crypto-exchange HTX for illegally promoting its services to U.K. consumers sends the message that it will pursue those who flout the rules from a distance and will be key in testing the extent of the U.K.’s regulatory perimeter, says Nick Barnard at Corker Binning.
UK Territories May Yet Prevail On Ownership Disclosure

Despite its recently launched anti-corruption strategy, the U.K. government appears to have little appetite in the short term to impose fully public ownership registers on the overseas territories, a position that will be welcomed by advisers and individuals, says Rupert Cullen at Allectus Law.
Striking A Balance Between AI Innovation And Regulation

The Financial Conduct Authority's recent consultation on the impact of artificial intelligence on financial services highlights the debate between regulators, the government and industry over whether current regulatory frameworks can balance innovation with risk management, say lawyers at Womble Bond.
FCA Enforcement Newsletter Reflects Shift Toward Openness

The Financial Conduct Authority’s inaugural Enforcement Watch newsletter provides clarity on the cases the regulator is opening and highlights its approach to early communication of enforcement activity, offering a welcome insight into its emerging priorities, says David Hamilton at Howard Kennedy.
Preparing For Fund Managers Directive 2 Compliance

With the Alternative Investment Fund Managers Directive 2 implementation deadline fast approaching, fund managers should be in the final stages of preparing to comply with changes in governance, policies and documents relating to liquidity management and loan origination activities, say lawyers at McDermott.
FCA's Investment Regime May Prove A Double-Edged Sword

The Financial Conduct Authority’s final rules on consumer composite investments intend to support retail investors in making more informed decisions while affording firms greater flexibility, but continuing with opaque methodologies will require greater operational and compliance effort in the short term, say lawyers at Fried Frank.