Try our Advanced Search for more refined results
Financial Services UK
-
July 09, 2025
British Airways Pensions Biz Unfairly Sacked Investment Exec
An employment tribunal has ruled that British Airways' pensions unit botched an investigation into a senior investment specialist over a confidential email he sent to himself during a workplace restructuring dispute, even though the employee was partly responsible for his ultimate dismissal.
-
July 09, 2025
Authorities Urged To Stagger Local Gov't Pension Fixes
The U.K. government should stagger the raft of proposed fixes to the Local Government Pension Scheme so as not to overwhelm administrators, Hymans Robertson has warned, calling for expectations to be realistic.
-
July 09, 2025
BoE Flags Cyber Risk Blind Spots In Stress Test
The Bank of England's regulatory arm has warned companies that financial firms are ill-prepared for a cyberattack that threatens timely settlements.
-
July 09, 2025
Crédit Agricole Nets €183M In Exit From Loto Owner
French insurer Crédit Agricole said Wednesday that it has sold its remaining stake in FDJ United for approximately €183.3 million ($215 million), marking its exit from the international lottery gaming operator.
-
July 09, 2025
Mastercard Unit Fined £12M Over Compliance Failures
The Bank of England said Wednesday that it has slapped an £11.9 million ($16.2 million) fine on Mastercard's U.K. payment systems operator Vocalink, in what the central bank called a first for a financial infrastructure company.
-
July 09, 2025
Nigerian Bank Owner Guaranty Trust Debuts In London
Guaranty Trust Holding Company PLC, the parent of Nigerian lender GTBank PLC, said Wednesday that it has started trading on the London Stock Exchange's main market for listed securities, after raising $105 million through a share sale.
-
July 09, 2025
LSE Needs Global Reach To Revive Floats, Industry Warns
The London Stock Exchange needs to work at attracting secondary listings from overseas issuers to offset a thinning flow of domestic flotations, a leading British industry group said Wednesday.
-
July 08, 2025
Ex-BofA Exec Sues For Bias Over Workplace Affair Fallout
A former Merrill Lynch director has failed to keep his name out of tribunal proceedings against the bank in his claim alleging he was unfairly dismissed and discriminated against following a workplace relationship that ended in acrimony.
-
July 08, 2025
EU Markets Regulator Unveils Plan To Cut Emissions By 2030
Europe's financial markets watchdog published Tuesday its first climate transition plan as a step toward meeting the European Union's climate objectives.
-
July 08, 2025
Underwriters Back FCA Move To Pare Back Insurance Rules
A trade group representing underwriters in London has backed plans floated by the Financial Conduct Authority to ax unnecessary requirements from its insurance rule book, but said areas of the proposals require clarification.
-
July 08, 2025
Insurance Consultancy BW Acquires Cybersecurity Firm
Barnett Waddingham said Tuesday it has acquired advisory business Risk Evolves, a move the insurance consultancy expects will strengthen its offering for clients.
-
July 08, 2025
Monzo Bank Fined £21M For Financial Crime Failings
The Financial Conduct Authority said Tuesday that it has fined Monzo Bank £21 million ($28.6 million) for failings in financial crime controls between October 2018 and August 2020.
-
July 14, 2025
Gide Hires Restructuring Partner From HSF Kramer In Paris
Gide Loyrette Nouel has strengthened its restructuring team in Paris with the hire of a new partner from Herbert Smith Freehills Kramer LLP.
-
July 07, 2025
Law Firm Gets 'Vague' £4.6M Negligence Case Struck Out
A London court struck out on Monday an energy company's £4.6 million ($6.3 million) claim against Benson Mazure LLP, because the law firm would have unreasonable difficulty understanding and responding to the "vague and confused" case.
-
July 07, 2025
PRA Flags Risks In Pension Deals Over Solvency Clauses
The regulatory arm of the Bank of England has warned the insurance industry that certain clauses in the terms of bulk purchase annuity transactions could expose them to risks totaling approximately £50 billion ($68 billion).
-
July 07, 2025
Pension Regulator Teams With Industry On Net-Zero Transition
The Pensions Regulator said Monday it will work with workplace pension schemes and financial advisers to develop a format for occupational pension schemes to develop voluntary transition plans in line with the government's aim to reach net-zero by 2050.
-
July 07, 2025
First Valuation Submitted Under New Pension Funding Code
Barnett Waddingham said Monday it had filed the first pension valuation of a retirement scheme under the new defined benefit funding code introduced by The Pensions Regulator last year.
-
July 07, 2025
US Payments Biz Gets Extension To Bid For UK Fintech
U.K. financial services provider Alpha Group International PLC said Monday that it has extended the deadline for potential buyer Corpay Inc., to weigh making a firm offer, following "constructive discussions" with the U.S. business payments company.
-
July 07, 2025
FCA Amends Exposed-Persons Definition In AML Guidance
The City watchdog published amended guidance on Monday on politically exposed persons that loosen the rules for holders of prominent public positions in the U.K., in a bid to make the safeguards more proportionate.
-
July 07, 2025
Actuaries Warn Over Safeguards In Pension Surplus Rules
Most consulting actuaries do not believe that there should be a level at which pension plan trustees are required to release surplus funds tied up in their plans, in line with measures announced by the government, a trade body said Monday.
-
July 07, 2025
Gov't Pension Reforms Could Add £29K To Workers' Savings
Millions of U.K. savers on average salaries could see their pension pots rise by up to £29,000 ($39,400) by their retirement date once proposed reforms that aim to "revolutionize" the sector are enacted, the government revealed on Monday.
-
July 04, 2025
UK Litigation Roundup: Here's What You Missed In London
The past week in London has seen the owner of Crystal Palace and the troubled Olympique Lyonnais football clubs sue its current chief executive John Textor, Fieldfisher faces a claim by Georgian businessman Zaza Okusahvili, and a dispute partner at Travers Smith file a personal injury claim against the firm.
-
July 04, 2025
Ex-Janus Analyst, Sister Given 11 Years For Insider Trading
A former City hedge fund analyst and his sister were sentenced by a London judge on Friday to a combined 11 years in prison for insider dealing and money laundering after they traded using confidential information to earn almost £1 million ($1.36 million) illegally.
-
July 04, 2025
Financial Trade Body Sets Out Proposals For Growth To Gov't
A trade body for financial institutions published on Friday its recommendations on HM Treasury's plans to support growth and reinforce Britain's position as a global financial center, including reconsideration of the Consumer Duty.
-
July 04, 2025
Ankle Tag Investors Deny £320M Conspiracy With Sacked CEO
Investors in a company which makes ankle tags have denied a £320 million ($437 million) claim that they conspired with the business's ousted chief executive to unlawfully profit from share sales.
Expert Analysis
-
Open Questions As FCA Prepares Buy Now, Pay Later Rules
HM Treasury’s recent response to its consultation on buy now, pay later lending regulation is clear on policy, but with rules still to be set by the Financial Conduct Authority it is difficult for firms to plan for change, and they should take advantage now of the opportunity to liaise with the regulator, say lawyers at Hogan Lovells.
-
What End of Payment Systems Regulator Means For Biz
The U.K. government’s plan to abolish the Payment Systems Regulator and absorb its functions into the Financial Conduct Authority should eventually lighten the compliance burden for businesses under the PSR’s remit, which may in turn encourage growth, but the proposed changes will roll out slowly, say lawyers at Farrer & Co.
-
Compliance Lessons From Art Dealer's Terror Financing Plea
Regulated businesses can learn from the missteps of a recently convicted London art dealer, who failed to disclose sales to a suspected Hezbollah financier, by implementing compliance measures like anti-terrorism financing screenings as robust as their anti-money laundering policies and training staff to spot red flags, say lawyers at White & Case.
-
UK Securities Tax Reform Will Be Welcomed By Investors
The proposed reforms resulting from HM Revenue & Customs' recent consultation on modernizing stamp taxes on shares, suggesting a single digital tax on securities to replace stamp duty and stamp duty reserve tax, are expected to reduce complexity for investors transacting in U.K. securities, say lawyers at Ropes & Gray.
-
UK Capital Reforms May Help Startup Founders, VC Investors
Hidden in the U.K. Financial Conduct Authority's recent proposals on the definition of capital for investment firms are changes to the eligibility requirements for instruments to be included in a firm's regulatory capital — changes that may reduce the risk of investing, especially in early-stage fintech firms, says Andrew Henderson at Goodwin.
-
EU Watchdog's ESG Dashboard Raises Transparency Bar
The European Banking Authority’s recently introduced ESG dashboard is a key tool in aligning financial institutions with the European Union's sustainability policies, and fundamentally alters the risk environment by transitioning climate-related data from a compliance afterthought to a core component of strategic decision-making, says Kristýna Tupá at Schönherr.
-
What To Note As HM Treasury, FCA Plan New Crypto Regs
Taken together, HM Treasury’s recently proposed crypto-asset regulations and the Financial Conduct Authority’s new discussion paper on regulating crypto-asset activities provide key insights into the government's planned regime, which represents significant changes that will affect all firms providing related services, says Mark Chalmers at Davis Polk.
-
Tools For Effective Asset Tracking In Offshore Jurisdictions
In light of a technology company's recent allegations that its former CEO maintained an undisclosed interest in offshore companies, practitioners may want to refresh their knowledge of the tool kit available for tracing and recovering allegedly misappropriated assets from both onshore and offshore jurisdictions, say lawyers at Walkers Global.
-
FCA Review Highlights Valuation Standards For Private Funds
The Financial Conduct Authority’s recent review of private funds valuation practices underscores the increasing importance of conducting robust and independent procedures, offering an opportunity for fund managers to strengthen their current valuation frameworks and improve investor confidence, say lawyers at Greenberg Traurig.
-
What Santander Fraud Ruling Means For UK Banking Sector
A London court's recent judgment in Santander v. CCP Graduate School held that a bank does not owe any duty to third-party victims of authorized push payment fraud, reaffirming the steps banks are already taking to protect their own customers from sophisticated fraud mechanisms, say lawyers at Charles Russell.
-
FCA Update Eases Private Stock Market Disclosure Rules
The Financial Conduct Authority’s recently updated proposals for the Private Intermittent Securities and Capital Exchange System would result in less onerous disclosure obligations for businesses, reflecting ongoing efforts to balance an attractive trading venue for private companies while maintaining sufficient investor protections, say lawyers at Debevoise.
-
Key Questions As Court Mulls Traders' Libor Convictions
The U.K. Supreme Court is considering whether to overturn two traders’ Libor and Euribor manipulation convictions, with the appeal reinvigorating debate over the breadth of English common law’s conspiracy to defraud offense and raising questions about the limits of a judge’s role in criminal jury trials, says Ellen Gallagher at Vardags.
-
Expect Complex Ruling From UK Justices In Car Dealer Case
While recent arguments before the U.K. Supreme Court in a consumer test case on motor finance commissions reveal the court’s take on several points argued, application of the upcoming decision will be both nuanced and fact-sensitive, so market participants wishing to prepare do not have a simple task, says Tom Grodecki at Cadwalader.
-
How UK Proposals Would Simplify Fund Manager Regime
The ongoing HM Treasury consultation and Financial Conduct Authority call for input on the future regulation of alternative investment fund managers indicate that deliberate steps are being taken to make the AIF regime more suitable for the U.K. market, with the aim of encouraging growth and competitiveness, says Leonard Ng at Sidley.
-
FCA's Regulatory Plans Signal Cause For Cautious Optimism
The Financial Conduct Authority’s latest strategy document plans for less intrusive supervision, a more open and collaborative approach, and a focus on assertive action where needed, outlining a vision of deepened trust and rebalanced risk that will be welcomed by all those it regulates, says Imogen Makin at WilmerHale.