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Financial Services UK
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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."
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January 26, 2026
German VC Firm Wins 'RedStone' TM Clash At EUIPO
Berlin-based venture capital firm Redstone has persuaded a European Union appeals panel to reject a Polish company's attempt to restore its full "RedStone" trademark application, proving that the chance of confusion is too strong.
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January 26, 2026
UK To Create 'British FBI' To Tackle Fraud, Serious Crime
The U.K. government announced it will create a new national police force dubbed the "British FBI" to investigate fraud by merging the National Crime Agency with other law enforcement agencies.
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January 26, 2026
UK Fines Bank Of Scotland For Russia Sanctions Breach
The U.K. sanctions policing body said Monday that it has fined Bank of Scotland PLC, which is wholly owned by Lloyds Banking Group, £160,000 ($218,354) for serious breaches of the government's Russia sanctions rules by allowing payments to and from the account of a sanctioned individual.
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January 26, 2026
Paul Weiss Guides KPS In €230M Buy Of Novacel
Compagnie Chargeurs Invest SA said Monday that it has entered into a binding agreement with KPS Capital Partners LP to sell its buildings protection business Novacel to the U.S. private equity firm in a deal worth approximately €230 million ($273 million).
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January 26, 2026
FCA Warns Crypto Sector Against Mistreating Consumers
The Financial Conduct Authority has warned crypto asset businesses against providing unsuitable products to consumers in draft guidance on applying the Consumer Duty under the crypto asset regime that comes into force in 2026.
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January 26, 2026
Freshfields, Fried Frank Aid CVC's $1.2B Buy Of US Credit Biz
Private equity firm CVC said Monday that it plans to buy hedge fund Marathon Asset Management LP in a cash and equity deal of up to $1.2 billion to boost its credit products in the U.S.
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January 26, 2026
HSBC's $14B Hong Kong Bank Buyout Gets Court Approval
HSBC Holdings PLC said Monday that it has finalized the privatization of Hang Seng Bank in an all-cash deal valued at 106 billion Hong Kong dollars ($13.6 billion), making the Hong Kong lender a wholly owned subsidiary.
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January 23, 2026
Taxation With Representation: Vinge, A&O Shearman, Cassels
In this week's Taxation With Representation, Swedish private equity company EQT buys U.K. secondaries firm Coller Capital, biopharmaceutical giant GSK PLC acquires Rapt Therapeutics Inc., and fusion energy company General Fusion announces plans to go public by merging with special purpose acquisition company Spring Valley Acquisition Corp. III.
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January 23, 2026
Insider Trading Presumption Challenged By EU Adviser
An investment bank does not commit insider dealing merely by executing a client's share sale, unless regulators can show the bank held inside information and acted outside its expected professional standards, an adviser to the European Union's top court has said.
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January 23, 2026
Danish Regulator Hits Saxo Bank With $49M AML Fine
The Danish finance regulator said Friday that it imposed a 313 million Danish kroner ($49 million) fine on Danish bank Saxo over anti-money laundering compliance failures.
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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.
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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.
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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.
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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.
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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.
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January 23, 2026
Cost Of Tax Breaks On Pension Contributions Nears £60B
The cost to the U.K. government of providing tax breaks on pensions savings is set to rise to nearly £60 billion ($81.2 billion) next year, according to official figures.
Expert Analysis
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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.
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What EU Securitization Proposals Signal For Risk Transfers
If implemented, recent amendments to the European Union securitization framework are expected to have an unambiguously positive effect on significant risk transfer markets, providing greater consistency and necessary flexibility, say lawyers at McDermott.