Financial Services UK

  • January 15, 2025

    Travers Smith-Led Wealth Manager To Move To Main Market

    Wealth manager Brooks Macdonald said Wednesday that it plans to move its listing from the junior to the main market in London in a bid to stem the flow of money leaving the business and broaden its source of new investors.

  • January 22, 2025

    Temple Bright Hires 2 Partners From Travers Smith, Ashurst

    Temple Bright LLP has snapped up two longtime lawyers from Travers Smith and Ashurst to continue making inroads into the growing market for alternatives to traditional law firms.

  • January 14, 2025

    Orrick Adds Paris Tax Partner From Latham

    Orrick Herrington & Sutcliffe LLP added a former counsel at Latham & Watkins LLP as a partner in its Paris office, where she'll advise clients on the tax aspects of French and international transactions, the firm said.

  • January 14, 2025

    Maloney To Testify As Trial Over ICG Stake Opens

    Irish investor Barry Maloney is set to testify over his shareholder dispute with a private equity giant after the start of the London trial Tuesday of his claim that it blocked him from forcing it out of its stake in a major software company to make him buy it out.

  • January 14, 2025

    'I Was Like Howard Hughes,' Socialite Says In Laundering Trial

    A socialite accused of being at the heart of a £200 million ($244 million) money laundering scheme said while giving evidence at his trial Tuesday that he was "like Howard Hughes" in the aftermath of police launching the investigation.

  • January 14, 2025

    Spain Plans 100% Tax On Foreign-Owned Homes

    The Spanish government plans to introduce a 100% tax on foreign-owned homes and stricter rules for holiday rentals to tourists, Prime Minister Pedro Sánchez said.

  • January 14, 2025

    UK Russia Sanctions Face Landmark Test At Supreme Court

    The U.K.'s sanctions regime faces a major test on Wednesday as billionaire Eugene Shvidler seeks to have his financial restrictions cast off — the first case to challenge Russian sanctions that has reached the country's highest court.

  • January 14, 2025

    Apollo, Standard Chartered Form $3B Strategic Partnership

    Private equity giant Apollo and international banking group Standard Chartered PLC on Tuesday announced that they have formed a long-term strategic partnership under which the two will contribute up to a combined $3 billion to go towards clean energy and transition financing.

  • January 14, 2025

    Charities Advised To Prep For New Pension Funding Regime

    U.K. charities with a defined benefit pension scheme should proactively work on a strategy for their plan in line with the recently introduced funding regime for the sector to avoid potential calls for higher retirement savings contributions, Lane Clark & Peacock LLP has said.

  • January 21, 2025

    Clifford Chance Hires M&A Pro Bruce Embley From Skadden

    Clifford Chance said Tuesday that it has hired senior corporate lawyer Bruce Embley from Skadden in London as it looks to boost its transactions services.

  • January 14, 2025

    Pensions Watchdog Could Play Role In Gov't Growth Agenda

    The Pensions Regulator could play a leading role in enabling the retirement savings sector to have a greater role in the recovery of the U.K. economy, a consultancy has said.

  • January 14, 2025

    KPMG Beats Property Developer's Meritless Negligence Claim

    KPMG LLP succeeded in striking out a property developer's £25 million ($30 million) negligence claim Tuesday, after a London court dismissed the meritless allegations as an abuse of process "doomed to fail."

  • January 14, 2025

    Siddiq Resigns as City Minister Amid Bangladeshi Questions

    Tulip Siddiq resigned on Tuesday as the Treasury minister in charge of economic policy over questions about her family ties to the deposed prime minister of Bangladesh, amid a widening corruption probe by Bangladeshi authorities.

  • January 14, 2025

    Financial Standard Setter Calls For Harmonized Climate Plans

    A global standards setter called on Tuesday for greater standardization of climate transition plans among financial firms to help regulators assess the risk to stability in markets.

  • January 14, 2025

    UK Pension Consolidation Plans Spark Pushback From Sector

    Government proposals to push for the consolidation of defined contribution pension schemes into master trusts risk stifling innovation and is the wrong area of choice to support its ambition to drive economic growth, experts have warned.

  • January 13, 2025

    NYDFS Launches Staff Exchange With Bank Of England

    The New York Department of Financial Services on Monday launched an international secondment program to allow the department to exchange staff with other regulators, starting with a digital assets-focused exchange with the Bank of England next month.

  • January 13, 2025

    Law Firms Avoid Early Payout In Dispute Over Property Deal

    A property business failed to get two law firms to contribute to its £2.5 million ($3 million) liability to a lender over a botched property purchase, after a judge ruled Monday that the dispute needed to be decided at trial.

  • January 13, 2025

    BNP Paribas Sues Oil Co. Boss For £104M Over Fraud Claims

    BNP Paribas has accused an oil company of defrauding it with forged invoices, making the allegation in a London court claim against the oil business's boss to claw back £104 million ($126 million).

  • January 13, 2025

    Gov't To Make Pension Fund Clearing Exemption Permanent

    The U.K. government said it will push through regulation to ensure that an exemption on pension funds having to clear certain kinds of derivatives will not expire this year.

  • January 13, 2025

    BoE 2025 Pension Deal Focus Dubbed A 'Reassurance'

    The Prudential Regulation Authority's continued focus on the bulk purchase annuity sector is a positive step in light of the rapid increase in pension deals over recent years, Lane Clark & Peacock LLP said.

  • January 13, 2025

    UK Unveils Blueprint To Become AI World Leader

    The government unveiled Monday an ambitious blueprint to make Britain a world leader in artificial intelligence to benefit financial services and other sectors, supported by pro-growth regulation.

  • January 13, 2025

    Tax Hikes Hit Business Confidence, UK Industry Chair Says

    The Labour government's decision to raise payroll taxes on employers in last year's budget has hurt business confidence, the chair of an influential British industry group said Monday.

  • January 13, 2025

    Credit Reference Firms Urged To Up Game On Cyberattacks

    The financial watchdog has told credit reference agencies and information providers to prevent cyberattacks better than they do now because they face potential digital threats as they accumulate more data. 

  • January 13, 2025

    Hill Dickinson Helps Bitcoin Miner Debut On London Exchange

    Bitcoin miner Vinanz, which is being guided by Hill Dickinson LLP, debuted on the main market of the London Stock Exchange on Monday after raising £1.5 million ($1.8 million) in a boost to the U.K. bourse.

  • January 13, 2025

    Pension Annuity Rates Soar On Bond Market Turmoil

    The income on a newly-purchased pension annuity has surged because of a crisis in the bond market, offering a silver lining for those approaching retirement, a consultancy said Monday.

Expert Analysis

  • FTSE Draft Rules Show Impact Of FCA Listing Reforms

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    FTSE Russell’s recently published provisional rule changes represent a much-awaited indication of its response to the U.K. Financial Conduct Authority’s proposed listing reforms, providing a level of certainty that will assist issuers and advisers in preparing for the implementation of the regime, say lawyers at Davis Polk.

  • FCA Strikes A Balance With 'Finfluencer' Guidance

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    With financial firms leveraging social media to engage with a broader audience, the Financial Conduct Authority’s recent "finfluencer" guidance signals a recognition of the imperative to adapt regulatory frameworks while maintaining a firm commitment to consumer protection, say David Allinson and Damien O'Malley at RPC.

  • Dissecting Recent Developments Against The Misuse Of NDAs

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    The U.K. government's recent plans to nullify nondisclosure agreements that prevent victims from reporting crimes should remind lawyers to proactively consider the necessity of such agreements, especially in light of the Solicitors Regulation Authority's warning notice on drafting improper NDAs, say Clare Davis and Macaela Joyes at RPC.

  • What To Know About The Russia-Stranded Plane Ruling

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    The High Court's recent decision in Zephyrus Capital Aviation v. Fidelis Underwriting, rejecting reinsurers' U.K. jurisdiction challenges in claims over stranded planes in Russia, has broad implications for cross-border litigation involving exclusive jurisdiction clauses, says Samantha Zaozirny at Browne Jacobson.

  • 3 Notable Pensions Reforms In Spring Budget

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    The U.K. government’s spring budget introduced reforms to improve pension outcomes through the value for money framework and the lifetime provider model, as well as to encourage investments in Britain — three interlinked areas that could pressure trustees and providers to rethink how they approach investments, say Liz Ramsaran and Marcus Fink at DWF.

  • Assessing The FCA Data Study's Response To User Concerns

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    The Financial Conduct Authority’s recently published report on the supply of wholesale financial data differs from others in its exceptional breadth and analysis of an enormous volume of information, but in its reluctance to address market power or pricing directly, the regulator’s approach is still cautious, say Emma Radcliffe and Greg Dowell at Macfarlanes.

  • Focus On Private Funds Will Boost Ireland's Global Standing

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    As the market increasingly pivots to private funds, Ireland's recent introduction of particular products — such as an updated, flexible European long-term investment fund — provides more structuring opportunities and paves the way for a brighter outlook in the country, say lawyers at Dechert.

  • Cum-Ex Prosecutions Storm Shows No Sign Of Abating

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    The ongoing trial of Sanjay Shah in Denmark is a clear indicator that efforts remain focused on holding to account the alleged architects and beneficiaries of cum-ex trading, and with these prosecutions making their way across Europe, it is a more turbulent time now than ever, says Niall Hearty at Rahman Ravelli.

  • Traversing The Web Of Nonjudicial Grievance Mechanisms

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    Attorneys at Covington provide an overview of how companies can best align their environmental and human rights compliance with "hard-law" requirements like the EU's recently approved Corporate Sustainability Due Diligence Directive while also navigating the complex global network of existing nonjudicial grievance mechanisms.

  • Opinion

    FCA Greenwashing Rules Need To Be Stronger To Be Effective

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    The Financial Conduct Authority's forthcoming anti-greenwashing measures, aimed at ensuring the veracity of regulated entities’ statements about sustainability credentials, need external scrutiny and an effective definition of "corporate social responsibility" to give them bite, says Jingchen Zhao at Nottingham Trent University.

  • EU Ruling Exposes Sovereignty Fissures In Int'l Arbitration

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    The European Court of Justice's recent ruling that the U.K. had breached EU law by allowing an arbitral award to proceed underscores the diminished influence of EU jurisprudence in the U.K., hinting at the EU courts' increasingly nominal sway in international arbitration within jurisdictions that prize legal autonomy, says Josep Galvez at 4-5 Gray’s Inn.

  • Companies House False Filings Raise Issues Of Integrity

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    A recent spate of unauthorized company filings with Companies House raises specific concerns for secured lenders, but also highlights the potential for false filings to be used to facilitate fraudulent schemes, says Daniel Sullivan at Charles Russell.

  • UK Courts Continue To Struggle With Crypto-Asset Cases

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    Although the common law has proved capable of applying established principles to crypto-assets, recent cases highlight persistent challenges in identifying defendants, locating assets and determining jurisdiction, suggesting that any meaningful development will likely come from legislative or regulatory change, say Emily Saunderson and Sam Mitchell at Quadrant Chambers.

  • Comparing The UK And EU Approaches To AI Regulation

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    While there are significant points of convergence between the recently published U.K. approach to artificial intelligence regulation and the EU AI Act, there is also notable divergence between them, and it appears that the U.K. will remain a less regulatory environment for AI in the foreseeable future, say lawyers at Steptoe.

  • Lessons On Using 3rd-Party Disclosure Orders In Fraud Cases

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    The expansion of the gateway for service out of jurisdiction regarding third-party information orders has proven to be an effective tool against fraud since it was introduced in 2022, and recent case law offers practical tips on what applicants should be aware of when submitting such orders, says Rosie Wild at Cooke Young.

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