Financial Services UK

  • February 19, 2026

    Ex-Commerzbank Analyst Trims Prison Time For Fake Claims

    The Court of Appeal overturned on Thursday a 20-month prison sentence for a former Commerzbank AG analyst who lied about having been sexually harassed and assaulted by a colleague.

  • February 19, 2026

    Fridman Relies On Sanctions Travel Ban To Beat $11M Claim

    Sanctioned Russian-Israeli banker Mikhail Fridman was not validly served at his London mansion with a claim in an $11 million battle over a loan notes investment because he was banned from the U.K., a London appeals court ruled Thursday. 

  • February 19, 2026

    Bank Of Ireland Fined £3.7M Over Year-Late Fraud Safeguard

    The Payment Systems Regulator revealed Thursday that it has fined Bank of Ireland UK PLC more than £3.7 million ($5 million) for missing a deadline by 14 months to put in place an account name-checking service to combat the risk of fraud.

  • February 19, 2026

    ICO Wins 'Personal Data' Appeal Over Currys Cyberattack

    A London appeals court ruled Thursday that data stolen in a cyberattack on electronics retailer Currys was personal data because Currys could identify the data subjects even if the hackers could not.

  • February 19, 2026

    FCA Chief Rathi Wants Shift Away From New Rules

    The Financial Conduct Authority will seek to make fewer new rules on the sectors it regulates, its chief executive has said, amid political pressure on the watchdog to do more to support U.K. economic growth.  

  • February 19, 2026

    EU Watchdog To Update Guidance On Inside Information

    The European Union markets watchdog proposed Thursday to simplify guidelines on delaying disclosure of inside information under the market abuse regime, in order to reduce the burden for companies listing on stock exchanges.

  • February 19, 2026

    Spread-Betting Biz Fights Order To Unwind Merger With Rival

    Sports betting company Spreadex urged the Competition Appeal Tribunal on Thursday to quash an order forcing it to sell a business it acquired in 2023, saying it was wrong to find that the merger would threaten competition.

  • February 18, 2026

    Visa, Mastercard Can't Avoid Swipe Fee Claims Pass-On

    Mastercard and Visa lost a bid on Wednesday to fend off a class action from retailers over unlawful card payment fees by arguing that the merchants didn't suffer loss because they passed on the charges.

  • February 18, 2026

    'Reckless' Pensions Bosses Lose Bid To Overturn FCA Ban

    A London tribunal has upheld a decision by the financial services regulator to ban two pensions company bosses from working in the sector after concluding that they had "recklessly" funneled savers' money into a high-risk property investment.

  • February 18, 2026

    EU Regulator Sees Risk In Simplified Sustainability Rules

    A markets watchdog called on lawmakers Wednesday to adjust proposed revisions to European sustainability reporting standards to better protect consumers and stop the risk of greenwashing.

  • February 18, 2026

    CMS, Gowling Steer £113M Pension Deal For EU Tech Firm

    European technology giant Sopra Steria Ltd. has agreed to a £113 million ($154.4 million) buy-in with Pension Insurance Corp. PLC to secure long-term retirement income for its program's 355 members, the insurer said Wednesday.

  • February 18, 2026

    Pensions Watchdog Taps Temporary Market Oversight Chief

    Britain's retirement savings watchdog said on Wednesday that it has appointed Ben Gunnee as its next interim executive director of market oversight.

  • February 18, 2026

    Taylor Wessing Steers £11M Energy Consultancy Pension Deal

    The pension plan for Noble Denton, an adviser to the oil and gas exploration industry, has agreed to a full scheme buy-in worth £11.4 million ($15.5 million), securing the retirement benefits of 106 members, an insurer broker has said.

  • February 18, 2026

    Sackers, WTW Steer £700M IBM Pension Scheme Buy-In

    The U.K. pension plan of a subsidiary of International Business Machines Corp. has completed a £700 million ($950 million) buy-in transaction, securing the retirement benefits of more than 3,600 members, Standard Life said on Wednesday.

  • February 17, 2026

    Osborne Clarke, CMS Guide £180M Tech Biz Pension Deal

    Pension insurer M&G has taken on £180 million ($243.3 million) in retirement savings liabilities from a scheme sponsored by high technology components manufacturer, in a deal guided by Osborne Clarke and CMS, an adviser on the transaction has said.

  • February 17, 2026

    Deutsche Bank, Ex-Trader Settle Over Monte Dei Paschi Case

    Deutsche Bank has settled a commercial fraud claim brought by a former trading head over his wrongful conviction for aiding false accounting and market manipulation in one of Italy's biggest financial scandals.

  • February 17, 2026

    BoE Aims To Cut Costs With New Securitization Rules

    Britain's finance watchdogs proposed on Tuesday to simplify rules on securitizations, slashing industry compliance costs and boosting international competitiveness.

  • February 17, 2026

    Fitch Predicts Rise In European Insurance M&A In 2026

    The European insurance market could see a wave of further mergers and acquisitions this year, a ratings agency said Tuesday.

  • February 17, 2026

    Ex-Investment Fund Director Denies Alleged £20M Fraud

    A former investment fund director pleaded not guilty to criminal fraud and forgery charges at a London court on Tuesday over allegations that he orchestrated a years-long fraud worth up to £20 million ($27 million).

  • February 17, 2026

    DLA Piper Steers L&G On Three Bulk Annuity Purchases

    ​Legal & General has helped secure £86 million ($117 million) of pension liabilities across a U.K. manufacturing and construction group's three retirement programs, Broadstone said Tuesday.

  • February 17, 2026

    Linklaters Steers Pensions Biz In €110M Scottish Widows Buy

    Pensions business Chesnara PLC said Tuesday that it has agreed to buy insurance policy manager Scottish Widows Europe from a subsidiary of Lloyds Banking Group PLC for €110 million ($130 million) in cash as it seeks to expand on the Continent.

  • February 16, 2026

    US Hedge Fund Settles $650M Claim Over Joint Venture Row

    Hedge fund Baupost has settled its $650 million dispute with DPK Management over a failed joint venture, ending the fight over allegations that the real estate company violated an exclusive contract with Baupost by secretly soliciting other offers.

  • February 23, 2026

    Proskauer Boosts PE, M&A In Paris With Hogan Lovells Team

    Proskauer Rose LLP has hired three partners from Hogan Lovells to expand its private equity and mergers and acquisitions transactions team in Paris.

  • February 16, 2026

    Getir Founders Sue UAE Fund For $700M Over Asset Dispute

    The founders of food delivery startup Getir sued Abu Dhabi's investment fund Mubadala on Monday for more than $700 million, accusing it of not handing over valuable assets when the company was restructured in 2024.

  • February 16, 2026

    Carillion's Ex-CEO Hit With Fine Over Misleading Statements

    The Financial Conduct Authority said Monday it has fined Richard Howson, former group chief executive at Carillion PLC, £237,700 ($324,000) for his part in misleading statements issued by the international construction company, which is now in liquidation.

Expert Analysis

  • Review Of EU Cross-Border Merger Regs' Impact On Irish Cos.

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    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.

  • A Look At UK, EU And US Cartel Enforcement Trends

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    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.

  • Testing The Limits Of English Courts' Pro-Arbitration Stance

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    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.

  • What Green Claims Directive Proposal Means For Businesses

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    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.

  • £43M Legal Bill Case Shows Courts' View On Exchange Rates

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    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.

  • Examining The EU's New Payments Services Package

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    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.

  • Examining The State Of Paccar Fixes After General Election

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    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.

  • EU Reports Signal Greenwashing Focus For Financial Sector

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    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.

  • Opinion

    Without Change, Fighting Fraud Is A Losing Battle For The UK

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    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.

  • Embedding Consumer Duty: 6 Areas Firms Should Prioritize

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    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.

  • 2 UK Rulings Highlight Persistent Push Payment Fraud Issues

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    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.

  • Open Questions 3 Years After 2nd Circ.'s Fugitive Ruling

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    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.

  • 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.

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