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Financial Services UK
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October 21, 2025
UK Includes Financial Sector In £6B Blitz On Red Tape
Insurers and banks will be among businesses granted breaks from regulatory reporting, the government confirmed Tuesday, as it promised a "blitz" on red tape.
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October 21, 2025
Doctor Claims His Signature Was Forged In £5M Loan Dispute
A doctor accused of owing almost £5 million ($6.7 million) over outstanding payments on an investment loan has told the High Court that his signature on the loan documents were forgeries and that he had no knowledge of loan agreements being made.
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October 21, 2025
Ex-Luxury Perfume Boss Denies Violating Russian Sanctions
The former boss of a luxury perfume group has denied breaching his duties by violating Russian sanctions, saying the company was aware of its ongoing business in Russia and the claim is a "contrivance" to justify his removal as chief executive.
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October 21, 2025
Simmons & Simmons Leads Investor On £250M Share Returns
Life sciences investor Syncona Ltd. said Tuesday that it plans to return £250 million ($334 million) to shareholders as it laid out proposals aimed at maximizing value for investors.
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October 21, 2025
UK Pensions Body Calls For Long-Term Tax Policy
The government must commit to long-term policy on pension tax relief, an influential trade body said Tuesday, warning that mounting uncertainty every year around the Budget was harming consumer confidence.
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October 21, 2025
Shawbrook Eyes £2B Market Cap For November IPO
Shawbrook Group PLC priced its market value at between £1.8 billion ($2.4 billion) and £2 billion on Tuesday for the online lender's initial public offering, making the float London's biggest to date in 2025.
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October 21, 2025
FCA To Take Reins Of AML Regulation From SRA
The government said Tuesday that the Financial Conduct Authority will become the sole regulator of anti-money laundering and counter-terrorism financing for professional services providers, slashing the supervisory role of the Solicitors Regulation Authority and other industry watchdogs.
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October 21, 2025
KKR, Quadrantis Buy Minority Stake In Peak Re
U.S. private equity business KKR and Portuguese venture capitalists Quadrantis said Tuesday that they will take a 15% stake in Hong Kong reinsurer Peak Re to help its global growth.
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October 20, 2025
HBOS Fraud Victims Hit Gunnercooke With Negligence Case
A family driven into bankruptcy by a £245 million (£329 million) fraud against HBOS are suing Gunnercooke LLP, alleging that the firm caused them to lose more than £4 million by bungling a settlement with their bankruptcy trustee.
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October 20, 2025
Directors Jailed For £20M Fraud Involving Fake VAT Claims
Six company directors were sentenced Monday for their role in a £20 million ($27 million) tax fraud involving a wholesale electrical appliance business that deliberately understated how much value-added tax was owed to HM Revenue and Customs.
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October 20, 2025
Mex Group Wins Partial Costs In Complex Fraud Case
A London judge has ended trading services provider MultiBank's contempt battle with a Luxembourgish investment company director for failure to disclose his assets for a freezing order, ruling that there were "reasons to doubt" it had an arguable case.
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October 20, 2025
Broker JMG Group Buys Another UK Insurance Co.
JMG Group has bought Glasgow-headquartered broker Taveo Group Ltd. in another acquisition announced by the Yorkshire-based insurance broking group as it continues its U.K. expansion.
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October 20, 2025
Trustees Urged To Boost Defenses As Cyberattacks Rise
Trustees overseeing pension programs should urgently reassess their cybersecurity and fraud defenses amid a sharp rise in "nationally significant" cyberattacks, a U.K. consulting company has warned.
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October 20, 2025
UK Gov't Strikes New Deal With Pension Funds On Investment
The government launched a club of the U.K.'s 20 largest pension funds and insurers on Monday, part of a wider push to drum up investment for economic growth.
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October 20, 2025
Market Intelligence Platform Denies Scraping Rival's Database
The companies behind a market intelligence platform have denied claims that its co-founder scraped thousands of records from his previous employer's database, arguing that all the information it collected is from the public domain and IP protections do not apply.
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October 20, 2025
UK Clears $24.2B Global Payments Deal For Worldpay
Britain's antitrust authority said Monday that it has given the green light to Global Payments' planned acquisition of payments giant Worldpay for $24.25 billion after finding that it will not harm competition in any U.K. markets.
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October 20, 2025
FCA Flags Money Laundering Risks At Corporate Finance Cos.
One in 10 corporate finance companies has no documented business-wide risk assessment, the City watchdog said Monday, warning that many organizations might be falling short of money laundering standards.
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October 20, 2025
Secure Trust Bank Sets Aside £21M For Car Finance Claims
London-listed lender Secure Trust Bank PLC said Monday that it plans to increase the amount it sets aside for an industry-wide motor finance compensation program to £21 million ($28 million), as it criticized the finance watchdog's approach to redress.
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October 17, 2025
Couple Among 14 Sentenced Over £28M Timeshare Fraud
Fourteen people have been convicted and sentenced for their part in a £28.1 million ($37.7 million) investment fraud which involved them selling a worthless investment product to consumers on the promise of getting rid of their timeshares, prosecutors said Friday.
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October 17, 2025
Trader Rejects £10M Claim Over High Risk Investments
A trading platform has denied owing a Cayman Islands investment fund at least £10 million ($14 million) over an allegedly loss-making decision to sell off its investments in shipping industry contracts, claiming it made the "valid and prudent" decision to sell when it did.
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October 17, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Johnson & Johnson hit with a £1 billion ($1.34 billion) claim for allegedly selling contaminated baby powder, Carter-Ruck bring a claim against the Solicitors Regulation Authority, and Hewlett Packard file a probate claim against the estate of Mike Lynch.
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October 17, 2025
Man Gets Prison For Hiding Assets In $80M Dubai Bank Case
A businessman who fraudulently helped three members of his Emirati family evade an £80 million ($107 million) judgment debt to a Dubai bank was sentenced on Friday to two years imprisonment for contempt of court.
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October 20, 2025
CORRECTED: Football Club Owner Liable To Iconic Investors For $97M Stake
A London court ruled on Friday that the owner of a portfolio of professional football clubs was in breach of a deal to buy back an investment vehicle's stake in his company for $97 million.
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October 17, 2025
Global Watchdog Calls On Countries To Monitor Crypto Better
An international securities watchdog called on countries Friday to monitor risks in crypto-assets and share regulatory information better across borders.
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October 17, 2025
BBVA To Launch €1B Buyback After Bid For Rival Fails
Spanish lender Banco Bilbao Vizcaya Argentaria will commence a share buyback scheme after learning that its protracted €19.5 billion ($22.8 billion) public takeover offer for domestic rival Banco Sabadell had failed.
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.