Financial Services UK

  • July 02, 2026

    BNP Paribas Exits Fed's 2017 Forex Trading Consent Order

    The Federal Reserve has freed BNP Paribas from a 2017 consent order tied to its foreign exchange trading operations, ending an enforcement action that came with a more than $246 million fine and was one of several to target big banks over past price-fixing concerns.

  • July 02, 2026

    SFO Ends Signature Group £140M Property Fraud Probe

    The Serious Fraud Office said Thursday that it had closed its investigation into property manager Signature Group over a suspected £140 million ($187 million) investment fraud after concluding that there was no realistic prospect of conviction.

  • July 02, 2026

    Moody's Germany Fined €2.1M For Misreporting To ESMA

    Moody's Germany has been fined €2.1 million ($2.4 million) for repeatedly providing incomplete and inaccurate regulatory data to the European Union's financial markets watchdog, including incorrect information on credit ratings, rating outlooks and historical performance, as well as deficiencies in its reporting controls.

  • July 02, 2026

    Forvis Mazars Fined £577K Over Botched Retailer Audit

    Forvis Mazars LLP has been fined £577,000 ($771,000) and one of its partners £33,000 by the U.K. accounting watchdog over serious failings in its audit of a digital catalog retailer's 2021 financial statements, conducted about eight months before the company collapsed.

  • July 02, 2026

    FCA Partially Suspends Motor Finance Compensation Program

    The Financial Conduct Authority said Thursday that a tribunal has partially suspended its motor finance compensation scheme until legal challenges in December or February 2027 are completed, as it confirmed that lenders targeted in complaints are not currently required to calculate or pay compensation.

  • July 02, 2026

    British Coal Pension Taps BlackRock To Run £8B Plan

    The trustees of a pension plan for former British Coal industry workers have appointed asset management giant BlackRock as investment manager for its £8 billion ($11 billion) retirement savings program.

  • July 02, 2026

    FCA Takes Aim At Poor-Value Legacy Pension Funds

    The Financial Conduct Authority warned insurance companies on Thursday that consumers with savings in older pension investment products might not be getting good value for money.

  • July 02, 2026

    Bank Of Baroda Pays $600M To Settle NMC Fraud Case

    India's Bank of Baroda has paid $600 million to reach a settlement over claims that it helped facilitate a multibillion-dollar fraud against NMC Health PLC, lawyers for the administrators of the United Arab Emirates healthcare group said Thursday.

  • July 01, 2026

    Investor Alleging £45M Fraud Seeks To Join Freeze Litigation

    An investment fund alleging it is the victim of a £45 million ($59.6 million) fraud on Wednesday sought to join litigation over the alleged scammers' frozen bank accounts, saying it is the best way it could assist the ongoing investigation.

  • July 01, 2026

    BlueCrest Loses UK Top Court Fight Over LLP Tax Rule

    Portfolio managers at hedge fund BlueCrest Capital Management LLP should be taxed as employees rather than partners under the U.K.'s salaried member rules, the U.K.'s top court ruled Wednesday.

  • July 01, 2026

    Capita Misses Civil Service Pension Deadline Fix, Union Says

    A trade union representing workers in the civil service has called on the government to intervene after claiming that Capita has missed a deadline to fix problems with the public sector pension program.

  • July 01, 2026

    Top UK Court Revives Denmark's £56M Cum-Ex Broker Claim

    Britain's highest court revived on Wednesday Denmark's £56 million ($74 million) fraud claim against an English broker that arose from the wide-ranging cum-ex tax refund scandal, overturning a ruling that the dispute had already been resolved in earlier proceedings.

  • July 01, 2026

    Watchdog Reports More UK Pension Fund Consolidation

    The U.K. retirement savings watchdog said Tuesday that the number of workplace pension funds declined by 15% in 2025 and that it expects further consolidation in the market this year.

  • July 01, 2026

    Pensions Body Warns Of Funding Risk From Climate Change

    The U.K. pension sector needs to prepare for potentially severe financial risks from climate change, a trade body has warned.

  • July 01, 2026

    Pension Providers Urged To Focus On Dashboard Readiness

    U.K. pension providers have entered a "critical period" where they must ensure their systems, data and customer support functions are ready for public use, as a deadline approaches for the government-backed pensions dashboard project, an insurance technology company warned Wednesday.

  • June 30, 2026

    Venezuela Fund Idea Is Covered By NDA Carveouts, Panel Told

    An investment fund manager and a consultancy urged a U.K. appellate court Tuesday to overturn a ruling that they had stolen confidential information to set up a Venezuelan debt investment fund after a joint venture failed.

  • June 30, 2026

    Billionaire Appeals Abuse Of Process Ruling In $415M Suit

    Mexican billionaire Ricardo Salinas Pliego urged an appeals court Tuesday to overturn a ruling refusing him a quick win in his $415 million fraud claim, arguing that using a private intelligence agent to gain information from his opponent's lawyer did not amount to an abuse of process.

  • June 30, 2026

    Binance Hit With £150M Group Claim Over Illegal Derivatives

    Binance has been hit with a £150 million ($199 million) group action claim by investors who accuse the cryptocurrency trading platform of illegally selling them high-risk derivatives products, the investors' lawyers said Tuesday.

  • June 30, 2026

    Motor Finance Borrowers Win In Group Claim Appeal

    Thousands of motorists can pursue claims against car finance providers as a group, a London appellate court affirmed Tuesday, saying that it was not an "irrelevant waste of time" to try lead cases to determine common issues between them.

  • June 30, 2026

    BoE, FCA To Jointly Regulate Systemic Stablecoin Issuers

    The Bank of England and the Financial Conduct Authority set out proposals Tuesday on how they will jointly regulate systemic stablecoin issuers in the U.K.

  • June 30, 2026

    Gov't Urged To Allow Pensions Wealth Use For Home Buying

    The government should consider reforms to allow Britons to use pension wealth to get on the property ladder, a consultancy said Tuesday, warning that those living in rented accommodation are more likely to face poverty in retirement.

  • June 30, 2026

    UK Finance Charter 'Boosts Gender Balance At 3 In 4 Firms'

    The government has helped drive a decade of progress in increasing female representation in senior leadership positions across the financial services sector, but achieving complete gender parity is still decades away, a review by HM Treasury indicated on Tuesday.

  • June 30, 2026

    Pension Compensation Fund's Illness Reforms Take Effect

    The U.K.'s pension compensation fund has rolled out changes that will mean that people suffering from a terminal illness receive benefits sooner.

  • June 29, 2026

    FCA Finalizes Landmark Crypto Regime, Cuts Capital Rules

    The Financial Conduct Authority has slashed potential capital requirements for issuing stablecoins in its landmark crypto-assets regime that was finalized Tuesday, the biggest expansion of its regulatory power in over a decade.

  • June 29, 2026

    Collyer Bristow Fights £73M Claim Over Advice On Settlement

    Collyer Bristow denies it cost a storage business £73.4 million ($97.3 million) by failing to explain that settling a swaps dispute with Barclays would block future claims against Clyde & Co. and others, telling a London court that its advice was sound.

Expert Analysis

  • How Firms Can Prepare For Increasing AI-Cybersecurity Risks

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    The growing convergence between cybersecurity and artificial intelligence means that businesses need to recognize the breadth of the threat, and conduct repeated testing and adjustment to address the shifting risk landscape, say lawyers at Debevoise.

  • What EU Coalition's 6-Point Proposal Means For Market Regs

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    The European Union’s recent position paper sent to the European Commission from its six largest economies is a serious political signal that businesses should treat as an indicator that European market regulation is heading toward deeper integration and stronger supervision, says Antonio Lanotte at Futura Law.

  • EU Protocol Strengthens Int'l Criminal Asset Recovery Powers

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    The Council of Europe’s recently adopted protocol to the Warsaw Convention marks a significant evolution in the international asset recovery landscape, signaling a focus on proactive and coordinated methods that require organizations to consider how to respond quickly to unexpected enforcement action, say lawyers at Trowers & Hamlin.

  • How UK Unfair Dismissal Reforms Could Affect PE Sponsors

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    The U.K. government’s unfair dismissal rights reforms taking effect from January 2027 could create uncertainty over management incentive arrangements and complicate senior management changes, representing a material shift in the risk landscape for private equity firms, say lawyers at Debevoise.

  • A Potent EU Tool To Block Russian Arbitration Interference

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    The European Union’s latest sanctions package introduces an EU-wide antisuit injunction mechanism that offers businesses a powerful weapon against Russia's efforts to derail international arbitration with forum-shopping tactics, say lawyers at Signature Litigation.

  • How FCA Proposal Would Change IPO Research Rules

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    The Financial Conduct Authority’s recent proposals for the governance of information flows in equity initial public offerings represent a recalibration rather than a wholesale deregulation of the current framework by maintaining that connected research be grounded in approved disclosure, say lawyers at Sullivan & Cromwell.

  • Nonequity Partner Tier Presents Lawyers With Pros And Cons

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    While the nonequity partner model may offer law firms' management flexibility and be a genuine stepping stone for lawyers in some organizations, at others the tier functions more as an extended holding pattern whose uncertainty can cause frustration for ambitious lawyers, say Filippo Falchi and Portia White at Major Lindsey.

  • Series

    Practice Leader Insights From Covington's David Berman

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    David Berman, Covington's head of EMEA financial services, discusses how he perceived a gap in the market for practical financial regulatory advice, the challenges of advising Egypt on its new banking law, and how firms that neglect artificial intelligence governance do so at their peril.

  • EU Foreign Subsidies Report Offers Chance To Take Stock

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    The European Union’s forthcoming review of the Foreign Subsidies Regulation, revealing reassuringly low intervention rates but a burdensome prenotification process, offers the European Commission a timely opportunity to address genuine distortions and be more proportionate in its demands on market participants, say lawyers at Dechert.

  • EU Directive Recalibrates States' Anti-Corruption Landscape

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    The European Union's recently adopted anti-corruption directive does not transform compliance requirements overnight, but it will establish a minimum harmonization framework addressing substantive offenses, corporate liability and sanction levels across member states once national legislation is in place, say Katharina Humphrey, Karla Böltz and Maximilian Schach at Gibson Dunn.

  • Easing Of UK Stablecoin Rules Will Encourage Crypto Growth

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    The Bank of England’s recent decision to relax parts of its proposed framework for sterling-backed stablecoins balances innovation with financial stability, and will help the U.K. remain competitive with crypto markets across the globe, says Thomas Cattee at Gherson.

  • New FDI Regs Signal Major Changes For M&A Deals In EU

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    The European Parliament’s recent adoption of the new foreign direct investment regulation represents a major shift from the European Union's current regime, replacing a voluntary fragmented system with a mandatory baseline for screening and introducing procedural requirements that will bring greater consistency across member states, say lawyers at Covington.

  • EU Fund Manager Reforms May Deepen Divide With UK Regs

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    Although the European Union is progressing with newly implemented regulations for alternative investment fund managers, the U.K. is leveraging post-Brexit flexibility to review its regulatory framework, marking a potential divergence between the two regimes, say lawyers at Skadden.

  • FCA-Approved Firms Get Liability Clarity On Appointed Reps

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    The recent U.K. Supreme Court judgment in Kession Capital v. KVB Consultants, turning on the construction of Section 39 of the Financial Services and Markets Act 2000, sets an important precedent in elucidating a Financial Conduct Authority-authorized person's responsibility for its appointed representative's activities, say lawyers at Signature Litigation.

  • Private Lender Verification Lessons From Recent Fraud Cases

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    Recent fraud allegations involving private credit borrowers raise compliance red flags for lenders, who must recognize that financial and collateral verification is an essential safeguard as failures in underwriting and monitoring infect the broader market, say Michael Bresnick at Venable and Brian Mich at Control Risks Group.

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