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Financial Services UK

Signage on the outside of the London building that is home to the U.K. agency for fighting white-collar crime.

SFO Director's Surprise Exit Reignites Debate Over Its Future

Nick Ephgrave's surprise retirement from the Serious Fraud Office could turn up the heat on a simmering debate about the future of the agency and a potential merger with other law enforcement authorities such as the National Crime Agency, lawyers say.

Gov't Overhaul Plan For CMA Merger Reviews Sparks Doubts

Proposals by the government to abolish the Competition and Markets Authority's independent decision-making panel without replacing it with easier mechanisms to appeal rulings might ultimately harm the businesses that Whitehall wants to attract, experts have warned.

Exterior of the financial regulator's offices in London

FCA Kick-Starts New 'Name And Shame' Enforcement Tactic

The Financial Conduct Authority has begun 2026 with a clear sign that it will use its newly won power to "name and shame" companies under investigation for suspected misconduct as it seeks to bolster protection for consumers.

The Top Non-SFO Financial Crime Trials To Watch In 2026

A major corruption trial against Nigeria's former oil minister, a tax fraud case against a prominent barrister and the prosecution of two men over a cyberattack on London's transport network are among the biggest white-collar cases in 2026 not brought by the Serious Fraud Office.

January 23, 2026
Danish Regulator Hits Saxo Bank With $49M AML Fine

The Danish finance regulator said Friday that it imposed a DKK 313 million ($49 million) fine on Danish bank Saxo over anti-money laundering compliance failures.
January 23, 2026
UK Litigation Roundup: Here's What You Missed In London

This past week in London saw Travelers Insurance hit with a claim from a property buyer over a payout tied to collapsed law firm Axiom Ince, Swedish music group Pophouse Entertainment clash with the production company that helped it create the ABBA Voyage experience, and biotech company Vertex Pharmaceuticals sue rival entity ToolGen for patent infringement.
January 23, 2026
HSF Kramer-Led Fintech Co. Buys Mortgage Biz Acre

ClearScore Group said Friday it has acquired Acre Platforms Ltd., a mortgage technology company as the U.K. financial technology firm expands into the home-lending market to diversify its business beyond credit products.
January 23, 2026
Systemic Issues Drive UK Gender Pension Gap, Study Says

Policymakers should assess what barriers affect long-term planning for retirement saving for women, rather than assuming that they lack confidence, when explaining the gender pension gap, a report published Friday says.
January 23, 2026
FCA Proposes More Standards For Crypto-Asset Regulation

The Financial Conduct Authority proposed Friday further rules on how crypto-asset companies should treat consumers under the new regulatory regime for digital assets due for implementation later this year.
January 23, 2026
FRC Issues New Guidance After Virgin Media Pension Ruling

Britain's audit regulator released new guidance on Friday that clarifies how pension programs should comply with the findings of a landmark court judgment.
January 23, 2026
Cost Of Tax Breaks On Pensions Contributions Nears £60B

The cost to the state of providing tax breaks on pensions savings is set to rise to close to £60 billion ($81.2 billion) next year, according to official figures.
January 23, 2026
Seddons Hires Financial Crime Head From Russell-Cooke

Seddons GSC has hired Frances Murray from Russell-Cooke to launch and lead its new financial crime practice.
January 23, 2026
Gowling, Sackers Steer Japanese Bank's £24M Pension Deal

A pension plan sponsored by one of Japan's largest financial institutions has offloaded £24 million ($32 million) of its retirement program liabilities to Just Group, in a deal steered by Gowling WLG and Sackers, advisers to the transaction have said.
January 22, 2026
UK Trading Co. Escapes £1.5M In Penalties For Tax Scheme

HM Revenue & Customs lacked sufficient evidence to justify more than £1.5 million ($2 million) in penalties on a securities trading company for careless and deliberate inaccuracies on its returns linked to a tax avoidance scheme involving an employee benefit trust, the Upper Tribunal ruled.
January 22, 2026
Travers Smith Initiates Fintech Startup Support Service

Travers Smith LLP said Thursday that it has started a new year-long program to provide practical legal and commercial support to innovative fintech startups as they navigate the early stages of their development.
January 22, 2026
Nomura Says Fund's $49M Claim Is 'Misconceived'

Two securities trading arms of Nomura Group have denied causing an investment fund to lose more than $43 million by selling the fund's shares and overcharging it almost $6.8 million in connection with capital gains tax.
January 22, 2026
Accomplice In Chinese Bitcoin Fraud To Repay £5.6M

A London court on Thursday ordered a convicted money launderer to repay £5.6 million ($7.6 million) for his role in a conspiracy to buy cryptocurrencies using money siphoned off from tens of thousands of Chinese investors.
January 22, 2026
CloudPay Sued For €17M Over Payroll Project Shutdown

A finance consultant has alleged that a payment solutions provider owes it almost €17 million ($20 million) for terminating a project aimed at providing a payroll financing product because of an alleged drop in client demand.
January 22, 2026
Industry Calls For EU Rethink On Litigation Funders

A group of major trade bodies has urged the European Commission to reconsider its decision not to regulate third-party litigation funders and called for a deeper review of the sector.
January 22, 2026
Ethanol Biz Loses Bid To Overturn €48M Price-Fixing Fine

A Swedish ethanol producer failed on Thursday to overturn a €47.7 million ($55.9 million) fine for colluding to maintain high prices by market manipulation after a European appeals court ruled that a competition watchdog did not presume it was guilty.
January 22, 2026
Gov't Warned About Using Pensions To Fix UK Housing Crisis

The government should be cautious about any plan to fix Britain's growing housing crisis by allowing workers to tap into their pensions savings early, a retirement savings provider said Thursday.
January 22, 2026
Football Club Owner Textor Fails To Overturn $97M Ruling

The owner of a portfolio of professional football clubs has failed to overturn a ruling that found he was in breach of a deal to buy back an investment vehicle's stake in his company for $97 million.
January 22, 2026
Slaughter And May Aids Deutsche Börse's €5.3B Allfunds Deal

Deutsche Börse AG has agreed to buy European fund distribution platform Allfunds Group PLC for €5.3 billion ($6.2 billion) as the German stock exchange operator moves to create a global player in the provision of financial markets infrastructure.
January 22, 2026
M&G Posts 65% Growth In Pension Deal Business For 2025

Savings and investment group M&G has said it penned £1.5 billion ($2 billion) in pension deals in 2025, almost 65% more than the amount it disclosed the year before.
January 22, 2026
Pensions Regulator Seeks Trustee Input On Value Rules

The U.K. retirement savings watchdog called on Thursday for greater industry feedback on sweeping value-for-money regulations for workplace benefit plans.
January 22, 2026
Ropes & Gray, Vinge Guide EQT's $3.7B Coller Capital Deal

Swedish private equity company EQT said Thursday that it will buy the U.K. secondaries firm Coller Capital for up to $3.7 billion in a bid to take advantage of the growing market for continuation vehicles as the PE sector continues to struggle to offload assets.
January 21, 2026
BoE Plans More Bank Reporting Cuts, Limiting Climate Focus

The Bank of England's regulatory arm hit back Wednesday against concerns raised by members of Parliament that the watchdog is failing to promote U.K. growth enough, adding it has limited climate risk focus and plans new reporting cuts.
January 21, 2026
London Brokers Call For Light Touch On Consumer Rules

The Financial Conduct Authority should strip back consumer protection rules for parts of the insurance market that primarily serve large commercial businesses, a trade body said Wednesday.
January 21, 2026
UK Investment Trust Rejects Saba's Bid To Unseat Board

Shareholders in Edinburgh Worldwide Investment Trust PLC have rejected a slate of resolutions from U.S. activist investor Saba Capital Management LP, affirming confidence in the existing board and its strategic direction, the company has said.

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

How To Navigate AI M&A Risks, Compliance In Europe

As the artificial intelligence industry continues to witness substantial M&A transactions in Europe, parties should be mindful of the unique challenges posed by the acquisition of intangible AI technologies, monitor the evolving regulatory landscape, and establish optimal mechanisms for risk allocation, say lawyers at Morgan Lewis.
What To Expect From UK Prospectus Regime Changes

The new U.K. prospectus regime for trading on regulated markets, effective Jan. 19, aims to streamline processes and reduce costs, but a significant shift in structuring and disclosure obligations will increase pressure on practitioners to manage risk under tighter timelines, say lawyers at Baker Botts.
10 Financial Regulatory Changes To Prepare For In 2026

A number of changes in the financial regulatory sphere are due this year, from targeted support to payment safeguarding and a new consumer composite investments regime, and firms should plan to address the policies and regulatory strategies relevant to them, say lawyers at Womble Bond.
How Gov't AML Supervision Reform Will Affect Law Firms

In confirming that the Financial Conduct Authority will become the single supervisor for professional services, HM Treasury’s planned reform of the U.K.’s anti-money laundering and counter-terrorist financing supervision regime marks a significant change for the legal profession, signaling a greater emphasis on evidence and accountability, says Harriet Holmes at Thirdfort.
EU Financial Regulation Trends Cos. Need To Watch In 2026

An ever-increasing number of initiatives on the European Union regulatory agenda, with simplification and consistent implementation being priorities, means financial services businesses with a footprint in the EU or seeking to establish one will face significant challenges and strategic opportunities, say lawyers at Taylor Wessing.
What To Expect From UK, EU Crypto Regime Changes In 2026

With 2025 marking the first operational year of the European Union’s Markets in Crypto-Assets Regulation and the U.K.’s rules reaching their final legislative form, the two jurisdictions are converging in focus, but structural design differences mean firms active in both markets will require dedicated documentation to ensure compliance, say lawyers at Morgan Lewis.
What Cos. Can Expect From CMA Consumer Protection Drive

The Competition and Markets Authority’s recently launched consumer protection drive targeting banned online sales practices focuses on supporting compliance rather than on enforcement, although firms should expect this to change once businesses have had time to adapt to the regulator's new regime, say lawyers at Baker Botts.
Preparing For UK's New Tax Fraud Whistleblower Program

With the U.K. government introducing a U.S.-style whistleblower incentive scheme to tackle high-value tax avoidance and evasion, companies should take proactive steps and establish clear protocols to mitigate the potential increase in tax investigations, say lawyers at Skadden.
Key Trends Shaping ESG And Sustainability Law In 2026

2025 saw a chaotic regulatory landscape and novel litigation around environmental, social and governance issues and sustainability — and 2026, while perhaps more predictable, will likely be no less challenging, with more lawsuits and a regulatory tug-of-war complicating compliance for global companies, say attorneys at Crowell.
Digital Regulation In EU And UK: The Enduring 2025 Themes

With EU and U.K. digital regulation becoming an operational reality in 2025 and no sign of slowing in 2026, organizations need to embed content moderation, cybersecurity and data access obligations into their compliance structures, although legislative divergences mean that multinational businesses must also consider parallel and sometimes conflicting expectations, say lawyers at Morrison & Foerster.
FCA Enforcement Trends In 2025 And Expectations For 2026

The Financial Conduct Authority’s clear intention in 2025 to conduct fewer, faster investigations and reinforce transparency is likely to continue in 2026, with a dual-pronged approach of targeted enforcement and assertive supervision to fight crime, support growth and help consumers as its priorities, say lawyers at WilmerHale.
Judicial AI Guidance Update Shows Caution Still Prevails

The judiciary’s recently updated guidance on the use of artificial intelligence warns judges and tribunal members about misinformation and white text manipulation, providing a reminder that AI tools cannot replace direct engagement with evidence and reflecting a broader concern about their application when handling confidential material, say lawyers at Hogan Lovells.
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.
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.
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.