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Financial Services UK
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January 30, 2026
Higher Fines, New Settlements In UK Sanctions Revamp
The sanctions enforcer plans to introduce higher maximum fines and a new settlement scheme as part of a wave of reforms aimed at keeping pace with the increased volume and complexity of its investigations.
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January 29, 2026
Fund Managers Should Be Taxed As Workers, HMRC Testifies
Portfolio managers at BlueCrest Capital Management should be taxed as disguised employees because they don't hold wider legal responsibilities at the hedge fund, Britain's tax authority told the U.K. Supreme Court on Thursday.
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January 29, 2026
Ex-LCF Boss Violated Court Order Imposed During SFO Probe
The former chief executive of London Capital & Finance PLC and his wife admitted on Thursday to breaching a court order imposed during an investigation into the £237 million ($326.8 million) collapse of the company, the Serious Fraud Office said.
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January 29, 2026
Barclays Traders' Rate-Rigging Cases Sent To Court Of Appeal
The watchdog for miscarriages of justice referred the convictions of five former Barclays traders back to the Court of Appeal on Thursday after concluding that the legal errors which led the country's highest court to overturn historical Libor and Euribor prosecutions also undermined their cases.
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January 29, 2026
FCA, OFSI Team Up To Fight Crypto Abuse, Money Laundering
The Financial Conduct Authority has joined forces with the sanctions policing body, law enforcement agencies and regulators in an information-sharing initiative to tackle the abuse of crypto assets and money laundering.
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January 29, 2026
Lloyds Bank Plans £1.75B Share Buyback After Strong Results
Lloyds said Thursday that it will return up to £1.75 billion ($2.4 billion) to its investors in a share buyback program as it reported a strong financial performance in 2025.
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January 29, 2026
Local Authority Settles Claim Over Lost £20M Bond Investment
A local council in England has agreed to a settlement in its £20 million ($28 million) claim against a regulatory host over allegedly fraudulent misrepresentations that led the now essentially bankrupt authority to invest in high-risk bonds.
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January 29, 2026
'Glimmer Of Hope' In Shrinking UK Race, Gender Pension Gap
Growing levels of employment and qualifications among younger Black and Asian women could lead to improved pension outcomes and narrow a pension gap shaped by gender and race, Lane Clark & Peacock LLP has said.
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January 29, 2026
Deutsche Bank Probed For Suspected Money Laundering
German prosecutors confirmed on Thursday that they are investigating Deutsche Bank AG for suspected money laundering activity linked to foreign businesses.
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January 29, 2026
Pensions Dashboard Project Floats Updated Reporting Rules
The government's pensions dashboard project has proposed revising its reporting standards to shift from on-demand to routine daily reporting of operational data.
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January 29, 2026
Howard Kennedy's Ex-Client Can't Challenge £196K Legal Bill
Howard Kennedy LLP has successfully defeated a former client's challenge to a legal bill of almost £196,000 ($270,000) racked up in connection with Financial Conduct Authority proceedings, as a London court ruled that the man was made aware of the costs.
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January 28, 2026
Belarusian Co. Fights To Overturn 'Irrational' UK Sanctions
A Belarusian construction company urged a London appellate court Wednesday to overturn a decision upholding the U.K. Foreign Office's imposition of economic sanctions on it, arguing that it no longer benefited from or supported the republic's government in Minsk.
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January 28, 2026
Coinbase Crypto Ads Banned Over Cost-Of-Living Claims
The Advertising Standards Authority banned adverts by Britain's largest crypto-asset exchange on Wednesday, saying that they trivialize the risk of cryptocurrency investing by implying it could be an alternative to cost-of-living concerns.
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January 28, 2026
Pension Funds Could Take Hit From Cap On Ground Rents
A government plan to cap ground rents for leaseholders could deal a major blow to the willingness of pension funds to invest in the U.K., experts have warned.
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January 28, 2026
FCA Awards Bond Data Contract Amid Legal Dispute
The Financial Conduct Authority said Wednesday it has signed a contract with Etrading Software to deliver the U.K. bond consolidated tape, as the regulator continues to defend itself against a legal challenge.
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January 28, 2026
Pensions Adviser Isio Launches Deals Service For Small Plans
Pensions advisory business Isio has launched a service that it said is designed to support smaller retirement savings plans as they seek to overcome barriers to potential buyouts with insurers.
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January 28, 2026
More Firms Sign Audit Stewardship Code Before Latest Launch
More than 290 companies with combined assets under management of more than £57 trillion ($78.5 trillion) have now signed the UK Stewardship Code, the Financial Reporting Council said Wednesday.
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January 28, 2026
FCA Urged To Clarify AI Rules For Senior Managers
The Financial Conduct Authority is facing calls from legal experts for it to plug gaps in its rules that could leave senior managers on the hook for failings in artificial intelligence under existing accountability regulations.
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January 27, 2026
UBS Wants Hayes' $400M Malicious Prosecution Suit Axed
UBS AG has asked a Connecticut state court to throw out former trader Tom Hayes' lawsuit that alleges the bank scapegoated him for Libor-rigging, arguing the case doesn't belong in the state and improperly seeks to punish the bank for cooperating with prosecutors.
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January 27, 2026
Gov't Pension IHT Reforms Risk Delays, Costs, Report Finds
Plans by the government to apply inheritance tax to wealth transferred through pensions place a huge burden on the personnel dealing with the estate and risk causing "significant delays and costs," a House of Lords committee warned in a report published Wednesday.
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January 27, 2026
Execs Say $22M Investec Loan Breached Sberbank Sanctions
Two business executives have denied owing Investec Bank PLC almost £22 million ($30.2 million) over loan agreements, arguing that the Anglo-South African lender knew the deals were designed to aid the purchase of a Russian bank's assets in breach of sanctions.
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January 27, 2026
DLA Piper Guides £6.6M Pension Deal For Norwegian Food Biz
The Norwegian food company Kavli Group has offloaded £6.6 million ($9 million) of its U.K. retirement scheme liabilities to Pension Insurance Corp. PLC, the insurer said Tuesday, in a deal steered by DLA Piper and CMS Cameron McKenna Nabarro Olswang LLP.
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January 27, 2026
FCA Studying Impact Of AI On Financial Services, Markets
The finance watchdog launched a wide-ranging review into how artificial intelligence could reshape financial services and markets in the long-term on Tuesday, as regulators face growing pressure to keep pace with the fast-moving technology.
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January 27, 2026
UK Finance Gender Pay Gap One Of The Highest, EY Says
The U.K. has one of the highest board-level gender pay gaps in the transatlantic financial services market, Ernst & Young LLP has said in a study, despite narrowing the renumeration divide to 29% from 40% since 2020.
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January 26, 2026
Al Habtoor Group Escalates $1.7B Dispute With Lebanon
Emirati conglomerate Al Habtoor Group said Monday that it will step up an investment treaty dispute against Lebanon over an alleged $1.7 billion in losses to its investments in hotels, real estate and other sectors in the country, saying it has "no other alternative."
Expert Analysis
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Freezing Orders Maintain Their Impact 50 Years On
Freezing orders, created in Mareva v. International Bulk Carriers 50 years ago, are now a fundamental part of English and Welsh law and a significant weapon in the litigator's armory, considered indispensable by practitioners seeking to obtain enforceable judgments and interlocutory relief on behalf of their clients, say lawyers at Trowers and Hamlins.
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EU Businesses Face Uncertainty Amid Sustainability Reforms
The European Commission’s sustainability omnibus, due to be approved this month, has brought a year of regulatory upheaval for European businesses, and although the long-awaited scaled-back obligations will provide clarity, a balance between not overburdening reporting companies and the need for data to make sustainable investments must be found, say lawyers at Peters & Peters.
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How Russia Sanctions Trajectory Is Affecting UK Legal Sector
The proliferation of U.K. and European Union sanctions targeting Russia has led to a vast increase in legislative provisions, and lawyers advising affected businesses should expect a complex and evolving legal landscape for the foreseeable future, says Rob Dalling at Jenner & Block.
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Tracking Crypto-Asset Tax Rules In 2025 And Beyond
The past year has seen an increasing amount of regulation in the crypto-asset space, with a range of novel and complex taxation challenges for regulators, and taxpayers can expect a marked increase in HM Revenue & Customs' compliance activity in the year ahead, says Liam McKay at RPC.
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Navigating Legal Privilege Issues When Using AI
The recent explosion in artificial intelligence has led to prompts and AI outputs that may be susceptible to disclosure in proceedings, and it is important to apply familiar principles to assess whether legal privilege may apply to these interactions, say lawyers at HSF.
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A Look At Factors Affecting Ombudsman Complaint Trends
Lawyers at Womble Bond provide an analysis of the Financial Ombudsman Service's complaint trends in 2025, highlighting the impact of changes within the FOS and external factors on the financial sector's redress system.
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What To Know About FCA's Short Selling Regime Proposals
Although the Financial Conduct Authority’s recent proposals for changes to the U.K. short selling regime do not materially alter the rules, targeted reforms designed to reduce the administrative burden placed on position holders will be welcomed by market participants, say lawyers at McDermott.
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How BoE Stablecoin Proposals May Reshape UK Payments
The Bank of England’s proposals for a sterling-denominated systemic stablecoin system amount to a substantial new regime, but it has a low-risk appetite for any change that would result in payment obligations migrating to a private stablecoin ledger and its tentativeness toward wholesale settlement is disappointing, say lawyers at Norton Rose.
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Why EU's FDI Screening Proposals Require Careful Balance
The European Commission’s proposals to harmonize EU foreign direct investment screening regimes at the member state level require a trilogue between the commission, Parliament and council, which means political tensions need to be resolved in order to reach agreement on the five key reforms, say lawyers at Arnold & Porter.
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OFSI Proposals Signal Greater Focus On Enforcement Activity
The Office of Financial Sanctions Implementation’s proposed financial sanctions reforms, with risks of higher penalties and more stringent disclosure requirements for U.K. banks and companies, reflect the agency’s evolution into a more sophisticated and robust enforcement regulator, says Irene Polieri at Gibson Dunn.
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How Restructuring Reforms Will Streamline Insolvency Plans
The recently published revised practice statement on schemes of arrangement and restructuring plans promises midmarket businesses efficiency without diluting safeguards, positioning schemes as inclusive tools rather than elite options, say lawyers at Addleshaw Goddard.
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How 2nd Circ. Decision Extends CFTC's Extraterritorial Reach
The Second Circuit recently concluded in U.S. v. Phillips that the Commodity Exchange Act extends to entirely foreign conduct if a victim of the conduct is based in the U.S., suggesting there is a heightened risk that foreign swap transactions will be susceptible to U.S. regulation when U.S. counterparties are involved, say attorneys at Skadden.
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EBA Proposals Signal Overhaul Of EU 3rd-Party Risk Rules
The European Banking Authority’s plans to extend third-party risk controls to non-ICT services, which may be finalized by the end of the year, will place a significant compliance and operational burden on in-scope entities, which should not be underestimated, say lawyers at Travers Smith.
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FCA Proposals Reduce Consumer Duty Compliance Burden
The Financial Conduct Authority’s recent proposals to streamline the consumer duty regime represent a pragmatic response to industry concerns, with a move toward sector-specific supervision and potentially narrowing its scope for wholesale and cross-border business, say lawyers at Simmons & Simmons.
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How New Companies House ID Rules Affect Businesses
Lawyers at Shepherd & Wedderburn discuss the Economic Crime and Corporate Transparency Act’s new mandatory identity verification requirements for all company directors and persons with significant control, set to go live next week, which aim to curb fraud by improving the reliability of information held by Companies House.