Try our Advanced Search for more refined results
Financial Services UK
-
June 03, 2025
Insurer Seeks £34M From Cigna For Missold PPI Complaints
PA (GI) Ltd. said it is entitled to recover from Cigna more than £34 million ($46 million) it has spent dealing with missold payment protection insurance claims, arguing at trial on Tuesday that it dealt with those complaints in the "fairest" and "most cost-effective" way.
-
June 03, 2025
New FCA Enforcement Guide Revises Rules On Case Publicity
The Financial Conduct Authority on Tuesday released its revised enforcement guide, setting out additional circumstances when it may publicize investigations.
-
June 03, 2025
NMC Health Fraud Was 'Systematic,' Administrator Testifies
An NMC Health administrator on Tuesday said that the healthcare group's financial statements were "structured to conceal" the group's real financial position including $3.8 billion of unreported debt, as he testified during the London trial against the group's auditors, EY.
-
June 03, 2025
Ex-Hedge Fund Analyst Driven By Greed, FCA Tells Jurors
A former hedge fund analyst roped his sister, his best friend and the best friend's girlfriend into a "rigged" insider trading scheme from their small flats during the COVID-19 pandemic for a "very old" yet "very simple" reason, prosecutors told jurors in London on Tuesday — "greed."
-
June 03, 2025
Media Biz Founder Sues BC Partners Unit Over €200M Bonus
A business controlled by the founder of United Group BV has accused the private equity-owned holding company of the telecommunications firm of refusing to pay a €200 million ($228 million) bonus allegedly due on the €1.5 billion sale of two subsidiaries.
-
June 03, 2025
FRC Simplifies Reporting Rules For UK Asset Managers
The accounting regulator published its updated 2026 UK Stewardship Code on Tuesday, pruning back the reporting burden by between 20% and 30% for many large asset managers and investment groups.
-
June 03, 2025
UK Retirement Costs Drop As Energy Prices Ease
The estimated cost for a minimum standard of living in retirement has fallen for both one- and two-person households, a trade body for the sector said Tuesday, driven largely by a "substantial reduction" in U.K. energy costs.
-
June 03, 2025
SFO Launches Probe Into Local Council Solar Bond Fraud
The Serious Fraud Office announced on Tuesday that it has launched an investigation into an alleged solar farm bond fraud after failed investments forced an English council into bankruptcy.
-
June 02, 2025
Remote Workers Take German Tax Case To EU's Top Court
The European Court of Justice said Monday it will hear the case of two taxpayers against a German regional tax authority over whether Swiss residents working remotely are taxable in Germany.
-
June 02, 2025
CJEU Set To Hear SocGen's Case In Swedish Tax Dispute
The Court of Justice of the European Union said Monday that it will hear the case of French banking giant Société Générale SA against the Swedish tax authority over the taxation of nonresident companies under the European treaty.
-
June 02, 2025
FCA Pledges Action On Insurers Over Client Harm Complaints
The Financial Conduct Authority has said it will act where it finds general insurers harm consumers following a complaint by Which?, the advocacy group, which includes a petition signed by 170,000 consumers.
-
June 09, 2025
Shoosmiths Hires Worldpay Deputy GC To Drive Fintech Push
Shoosmiths LLP said on Monday that it has hired a senior lawyer at payments giant Worldpay as it looks to continue expanding its presence in financial services and technology, two key sectors for the firm.
-
June 02, 2025
AI Use Soars Among UK Cos. Despite Rising Cyber-Risks
More than 90% of U.K. businesses are either looking at or already using artificial intelligence tools, despite a vast number believing that cyberthreats are on the rise, according to research by insurer QBE released Monday.
-
June 02, 2025
Gov't Told To Provide Timeline On Private Sector Dashboards
The U.K. government must publish a roadmap for the introduction of private sector pension "dashboards," a trade body said Monday, warning that officials will fail to hit targets for public engagement without making the service widely accessible.
-
June 02, 2025
FCA Pushes Mutual Fund Managers For Faster Settlements
The Financial Conduct Authority has said mutual fund managers should take steps now to speed up fund settlements under the Consumer Duty, in alignment with a planned faster settlement cycle for trades in shares and bonds.
-
June 02, 2025
Finance Biz TP ICAP Buys Squire Patton-Led Data Co.
Financial services company TP ICAP Group PLC said Monday that it has bought independent data business Neptune Networks, which is owned by a consortium of global banks.
-
June 02, 2025
Aircraft Parts Co. Director In Court On Fraud Charges
A director of an aircraft parts supply company appeared at a London criminal court on Monday accused of falsifying documents used in sales of engine parts to airlines around the globe.
-
June 06, 2025
Reed Smith Hires Cohen & Gresser London White-Collar Pro
Reed Smith LLP has recruited a senior expert in financial crime from Cohen & Gresser LLP in London to boost its capabilities representing clients in complex disputes and investigations.
-
May 30, 2025
UK Audit Regulator Finalizes Project To Unlock Financial Data
Britain's accounting regulator said on Friday that it has now completed an 18-month project designed to make structured financial data more accessible in the U.K.
-
May 30, 2025
Isle Of Man Agrees To Work With UK Against Tax Avoidance
Isle of Man authorities reached an agreement with the U.K. government to work together in a crackdown on promoters of tax avoidance schemes, according to a joint statement.
-
May 30, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Entain face yet more investor claims in the fallout from its bribery probe, UEFA face class action from Liverpool fans over chaos at the 2022 World Cup, and a venture capitalist sue journalists for misuse of his private information over a forged police report. Here, Law360 looks at these and other new claims in the U.K.
-
May 30, 2025
FCA Names Ex-Pensions Minister Head Of Consumer Panel
The Financial Conduct Authority said Friday that it has appointed Chris Pond, a former work and pensions minister, as chair of an independent panel that advises the regulator on consumer issues.
-
May 30, 2025
FCA Wins OK For £1M Fine On Pensions Transfer Pros
The finance watchdog said Friday that a tribunal has approved its decision to ban two financial advisers from working in financial services and impose approximately £1 million ($1.3 million) in fines over their pension transfers that put clients' retirement money at risk.
-
May 30, 2025
Pension Credit Applications Rise 28% Since Winter Fuel Cut
The number of applications for pension credit in the U.K. increased 28% in the past year since the government said that it will ax winter fuel payments for millions of retirees, Department for Work and Pensions data shows.
-
May 30, 2025
Pension Adviser Declared In Default Over Unpaid Claims
The Financial Services Compensation Scheme confirmed on Friday that a pensions advisory company has been declared in default after it was unable to pay out on claims brought by clients.
Expert Analysis
-
Revised OECD Guidelines Key In Shaping Business Standards
The OECD’s recent revised guidelines on responsible business conduct, supported by a domestic government agencies’ grievance referral mechanism, have already influenced EU due diligence standards, and enterprises engaging in the unique procedure will benefit from case-specific nuances, parallel proceedings and the availability of confidentiality protections, say lawyers at Debevoise.
-
Libor Fallback To Prime May Increase Corporate Loan Costs
Despite preparations and legislative actions related to the transition away from Libor earlier this year, there remains a contingent of corporate borrowers that have fallen through the cracks and could face increased costs if their loans default to prime rates, say Nathan Moore and Dana Bradley at WilmerHale.
-
Report Can Aid With Sustainable Finance Disclosure Filings
The European Supervisory Authorities recently issued a report on companies' consideration of the principal adverse impacts of their investment decisions on sustainability factors, providing examples of good and bad disclosure practices under the Sustainable Finance Disclosure Regulation, which firms should note in their future reporting, say lawyers at Debevoise.
-
Protecting The Arbitral Process In Russia-Related Disputes
Four recent High Court and Court of Appeal rulings concerning anti-suit injunction claims illustrate that companies exposed to litigation risk in Russia may need to carefully consider how to best protect their interests and the arbitral process with regard to a Russian counterparty, say lawyers at Linklaters.
-
Audit Reform Takeaways After Record KPMG Fine
The Financial Reporting Council’s recent £21 million fine against KPMG for its Carillion audit work failures is representative of the agency’s increasing proactivity in policing audit quality, and brings to light the U.K. government’s slow-moving but ongoing efforts to majorly reform audit sector regulations, says Paul Brehony at Signature Litigation.
-
RSA Insurance Ruling Clarifies Definition Of 'Insured Loss'
A London appeals court's recent ruling in Royal & Sun Alliance Insurance v. Tughans, that the insurer must provide coverage for a liability that included the law firm's fees, shows that a claim for the recovery of fees paid to a firm can constitute an insured loss, say James Roberts and Sophia Hanif at Clyde & Co.
-
Putin Ruling May Have Unintended Sanctions Consequences
By widening the scope of control, the Court of Appeal's recent judgment in Mints v. PJSC opens the possibility that everything in Russia could be deemed to be controlled by President Vladimir Putin, which would significantly expand the U.K.'s sanctions regime in unintended ways, say attorneys at Greenberg Traurig.
-
Navigating The New Framework On Nature-Related Reporting
The Taskforce on Nature-related Financial Disclosures’ recently published disclosure framework represents a significant step toward the coalescence of nature-related disclosure standards for corporates and financial institutions, and has the potential to influence investor expectations and future regulation, say lawyers at Kirkland.
-
FCA Engagement Signals New Direction In ESG Disclosures
The Financial Conduct Authority recently published a response to a consultation on sustainability-related standards, highlighting the regulator's priorities for the U.K.'s green transition, including an early indication that it may turn its attention to nature-based disclosures, say Ferdisha Snagg and Andreas Wildner at Cleary.
-
New Policies Will Aid UK Cos. Accessing US Capital Markets
The U.K. government's recent adoption of regulations permitting the use of U.S. generally accepted accounting principles, and announcement of measures to remove a 1.5% tax on certain share issues and transfers, should help ensure that England remains an attractive holding company jurisdiction for companies seeking a listing on U.S. stock exchanges, say lawyers at Davis Polk.
-
Key Takeaways From ICO Report On Workforce Monitoring
The Information Commissioner's Office recently published guidance on workplace monitoring, highlighting that employers must strike a balance between their business needs and workers' privacy rights to avoid falling afoul of U.K. data protection law requirements, say lawyers at MoFo.
-
Creating A Safe Workplace Goes Beyond DEI Compliance
The Financial Conduct Authority and Prudential Regulation Authority recently proposed a new diversity and inclusion regulatory framework to combat sexual harassment in the workplace, and companies should take this opportunity to holistically transform their culture to ensure zero tolerance for misconduct, says Vivek Dodd at Skillcast.
-
Asset Managers Should Prepare For Nature-Related Reporting
Although it is doubtful that the U.K. nature-related task force’s recent recommendations for mandatory nature reporting will come into effect imminently, it is likely that investors will begin to use them to assess risks and will request asset managers to shift capital flows to more sustainable outcomes, say lawyers at Macfarlanes.
-
What Justices' Cert. Denial Of Terrorism Suit Means For Banks
The U.S. Supreme Court's denial of certiorari in Freeman v. HSBC Holdings lets stand the Second Circuit's decision on the narrow scope of conspiracy liability under the Justice Against Sponsors of Terrorism Act, providing protection for banks that otherwise could have faced liability for finance activities with limited connections to third parties' unlawful acts, say attorneys at Sidley.
-
Firms Should Prepare For New DEI Reporting Requirements
While the Financial Conduct Authority and Prudential Regulation Authority's recent proposals on diversity and inclusion in the financial sector are progressive, implementing reporting requirements will pose data collection and privacy protection challenges for employers, say lawyers at Fieldfisher.