Financial Services UK

FCA Woodford Ban Signals Risks Of Star Fund Managers

The decision by the financial watchdog to provisionally fine and ban former fund manager Neil Woodford has sent a lesson to companies across the finance sector that the star status of some senior managers is up for review in the City.

Motor Finance Ruling Shifts Focus To Wider Broker-Fee Cases

The recent decision by the U.K. Supreme Court to limit the payouts available to many motor finance customers over hidden fees could switch legal attention to other sectors that routinely add brokers' commissions to bills, lawyers say.

Supreme Court Car Finance Verdict Slashes Lender Exposure

The U.K. Supreme Court's landmark decision Friday to reverse most of the Court of Appeal's judgment on hidden motor finance commissions has sharply narrowed the scope of any future redress scheme from the Financial Conduct Authority — an outcome critics said favored lenders and car dealers over consumer protection.

Hand using laptop and show malware screen with phishing email, hack password and personal data.

Looser SMCR May Leave Banks More Open To Fraud Charges

The Financial Conduct Authority's proposed partial relaxation of the approval process under its senior managers regime as the U.K. pushes for deregulation could leave companies more exposed to fraud prosecution as the failure to prevent fraud offense goes live in September.

August 11, 2025
7 Local Gov't Pension Funds To Join Border To Coast

Border to Coast Pensions Partnership said Monday that seven local government pension scheme funds that manage approximately £45 billion ($60.5 billion) plan to join the pool, as part of the wider plan to consolidate the U.K.'s retirement pot.
August 11, 2025
Gov't To Tighten Appointed Reps Regime To Stop Misconduct

The U.K. government said Monday it will empower the Financial Conduct Authority to refuse firms permission to use appointed representatives, in a tightening of the regime to stop misconduct.
August 11, 2025
Most Pension Savers Under 65 Tap Funds Early, Data Shows

Approximately 70% of the three million savers in Britain who withdrew money from their retirement pots after government reforms in 2015 did so before they reached state pension age, a retirement specialist said Monday.
August 11, 2025
Law Firm Sues NatWest Over Suspended Bank Accounts

NatWest is facing a High Court claim brought by a London law firm which alleges that the bank suddenly suspended access to its accounts without warning and has failed to give any explanation.
August 11, 2025
Fintech Biz Plus500 To Return $165M To Investors

Trading platforms operator Plus500 unveiled plans on Monday to return $165 million to shareholders through dividends and a $90 million stock buyback program as it reported increased revenue.
August 11, 2025
Addleshaw Helps PIC On £4.3B Rolls-Royce Pension Deal

Pension Insurance Corp. PLC said Monday that it has covered £4.3 billion ($5.8 billion) of pension liabilities for British aerospace and defense giant Rolls-Royce PLC to help streamline its business operations.
August 08, 2025
FCA Finds Directors Breaching Policies On Unrecorded Calls

The Financial Conduct Authority has found in a review that wholesale banks are identifying breaches of internal policies on unmonitored communication, particularly by senior individuals.
August 08, 2025
Private Sector Pension Savings Hit Record £25.5B In 2024

Private sector employees in the U.K. contributed a record £25.5 billion ($34.3 billion) to their pension pots in 2024, a consultancy said on Friday.
August 08, 2025
Chelsea Group Claims Bribery Tainted $20M Greensill Deal

A Cyprus-based group of companies has denied owing $20.6 million to UBS' asset management unit from a supply chain finance deal with the now-defunct Greensill Capital, arguing that the deal was rescinded because it was tainted by bribery.
August 08, 2025
UK Insurers Face Pressure To Offer Green Products

Over 40% of business executives consider it very important to offer green insurance products or services, GlobalData has said in a study.
August 08, 2025
UK Litigation Roundup: Here's What You Missed In London

This past week in London has seen the U.S. Securities and Exchange Commission target a British investor over a $10 million microcap fraud scheme, Merck Sharp & Dohme move against Halozyme Inc. following a recent clash over its patented cancer medicine, and Birmingham City Council sue a school minibus operator years after ending its contract over DBS check failures. Here, Law360 looks at these and other new claims in the U.K.
August 08, 2025
JPMorgan Denies Witholding €18M In VTB Sanctions Fight

JPMorgan has hit back at a VTB Bank subsidiary's claim that the American bank withheld €17.8 million ($21 million) from a liquidated trading account, arguing that sanctions have blocked it from paying the money.
August 07, 2025
Former Soldier Convicted Of Running £1.3M Ponzi Scheme

A former British Army rifleman was convicted of running a £1.3 million ($1.7 million) Ponzi scheme in London on Thursday over allegations that he offered more than 200 investors impossibly high returns before the fund's collapse.
August 07, 2025
Accounting Co. Faces Trial In 1st FTP Tax Evasion Case

Accounting firm Bennett Verby Ltd. faced accusations on Thursday that it had failed to prevent tax evasion alongside six individuals charged with tax evasion and fraud offenses.
August 07, 2025
IFX Ends £3M Bid For Argentex After Administration

Foreign exchange provider IFX Payments said Thursday it has formally terminated its plans to buy Argentex Group PLC two weeks after the troubled currency risk manager entered administration.
August 07, 2025
FCA Boosts Payment Safeguards To Protect Consumers' Cash

The Financial Conduct Authority published new rules on Thursday to protect consumers better when they use payment companies, strengthening its ability to intervene when they fail to safeguard clients' money.
August 07, 2025
Insurer Warns Of Pause In Pension Deals Over Gov't Reforms

Many larger pension schemes have hit pause on plans to carry out insurance transactions while waiting on the government's plan for reforming the sector, an insurer warned Thursday, as it posted falling revenue from the first six months of the year.
August 07, 2025
ABN AMRO Launches €250M Buyback After ECB Clearance

ABN AMRO has launched a share repurchase program worth as much as €250 million ($292 million) after receiving regulatory clearance, a move expected to lower the Dutch bank's outstanding share capital.
August 07, 2025
Banca Generali To Weigh €6.3B Takeover Bid By Rival Lender

Italian lender Generali has said it still needs to evaluate a takeover offer from investment bank Mediobanca to acquire it for an estimated €6.3 billion ($7.3 billion) in a deal expected to spur consolidation in the banking industry.
August 06, 2025
Greenwashing Scrutiny Grows Amid Rising ESG Demands

The increasing significance of environmental, social and governance considerations for businesses has led to a surge in companies overstating their green credentials, according to a report from Watson Farley & Williams LLP.
August 06, 2025
SEC Pursues UK Man's Assets Over $10M Stock Fraud

The U.S. Securities and Exchange Commission has launched a legal action in England to enforce a $350,000 U.S. court judgment against a man the agency has alleged was involved in a $10 million fraudulent trans-Atlantic microcap stock trading scheme.
August 06, 2025
FCA Targets Greenwashing With Simpler Climate Rules

The Financial Conduct Authority set out plans on Wednesday to simplify sustainability reporting to help reduce greenwashing as it responded to feedback from asset managers, life insurers and pension providers that climate disclosures are too complex.
August 06, 2025
Commerzbank Plans €1B Share Buyback After Record Results

Commerzbank AG said Wednesday it is seeking approval to kick-start a share buyback of up to €1 billion ($1.15 billion), as the European lender disclosed record financial results for the first half of 2025.
August 06, 2025
Insurer L&G Expects £42B Of Pensions Deals In 12 Months

Insurer Legal & General said Wednesday that it expects at least £42 billion ($56 billion) in transactions designed to reduce risk in U.K. pension plans over the next 12 months, amid surging demand from businesses.
August 06, 2025
HSF Kramer Guides Marsh On £1.9B Pensions Mega-Deal

British insurer Standard Life said Wednesday that it has acquired £1.9 billion ($2.5 billion) in pension liabilities from broking giant Marsh McLennan, in a deal guided by Linklaters, HSF Kramer and Eversheds Sutherland.

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

Lessons From Landmark UK Supreme Court Libor Ruling

The U.K. Supreme Court’s recent quashing of former traders Hayes and Palombo’s interest rate rigging convictions on the ground of jury misdirection raises concerns about failings in the criminal appeal process, and whether encouraging institutions to accept regulatory settlements can create conditions for miscarriages of justice, says Ellen Gallagher at Vardags.
Mansion House Speech Heralds New Financial Regulatory Era

The chancellor of the exchequer's recent Mansion House speech introduced a sweeping commitment to modernize regulation, which will require U.K. retail banks and building societies to revisit core assumptions, and allow lawyers to play a key role in shaping the new rules, say lawyers at Addleshaw Goddard.
Challenges For Managers In Navigating Continuation Funds

With continuation vehicles becoming an increasingly popular alternative to traditional private equity investment exit routes, managers and lenders should be confident that they understand a transaction’s structure and how it interacts with existing debt arrangements, says Jason Larkins at Travers Smith.
Key Points From EU Proposals To Ease Securitization Rules

The European Commission’s recently proposed securitization framework amendments aim to relax existing rules, such as by reducing due diligence requirements and removing the need for investors to conduct certain prescribed compliance verifications by sponsors or original lenders, say lawyers at McDermott.
High Court Elects Substance Over Form In Arbitration Dispute

The High Court recently found that an arbitral tribunal has jurisdiction over the dispute in Ras Al Khaimah Investment Authority v. India, underscoring the importance of aligning treaty interpretation with the goal of fostering investment, while rejecting interpretations that unduly limit investor protections, says Josep Galvez at 4-5 Gray's Inn.
What New UK Stub Equity Rules Will Mean For PE Bidders

The U.K. Takeover Panel’s recent guide to making stub equity offers, for the first time formally harmonizing the approach to be taken, should be helpful for both private equity bidders and practitioners, and not unduly restrictive, say lawyers at Davis Polk.
What To Expect As FCA Preps To Launch AI Testing Service

The Financial Conduct Authority’s forthcoming artificial intelligence live testing service will provide participants with access to appropriate regulatory expertise, but to gauge the tool’s potential utility, it is important to understand how it fits in with what the regulator is already doing, says Omar Salem at Fox Williams.
New Interpol Silver Notice Could Be Tool For Justice Or Abuse

Interpol has issued dozens of Silver Notices to trace and recover assets linked to criminal activity since January, and though the tool may disrupt organized crime and terrorist financing, attorneys must protect against the potential for corrupt misuse, say attorneys at Clark Hill and Arktouros.
Weighing PE Transaction Risks As EU AI Act Rolls Out

As the European Union Artificial Intelligence Act becomes effective in stages, legal practitioners involved in private equity deals should consider the transactional risks resulting from this measure, including penalties, extraterritorial reach and target-firm applicability, say lawyers at Covington.
EU Banking Watchdog Regulations Herald New AML Era

The European Banking Authority’s forthcoming anti-money laundering package will set a framework for compliance across the European Union by redefining the rules of engagement between financial institutions and supervisors, setting a new standard for transparency and accountability, say lawyers at A&O Shearman.
What To Expect As UK, US Gov'ts Develop Stablecoin Policies

While the U.K. and U.S. governments’ policies both suggest that fiat-backed stablecoins can improve efficiency and safety in payments systems, a perception that crypto-assets remain high risk means consumers are unlikely to use them in significant volume anytime soon, say lawyers at Cadwalader.
What Insurers Can Do To Prepare For PRA 'Solvent Exit' Rules

With less than a year until the Prudential Regulation Authority's new solvent exit rules for insurers come into force, it is critical that firms prepare to meet the imminent deadline by outlining an execution plan and establishing clear governance arrangements, say lawyers at Holman Fenwick.
Decoding Arbitral Disputes: UK Injunctions Across Borders

A recent High Court of Justice decision allowing JPMorgan Chase Bank to block VTB Bank from bringing suit in a Russian court provides a seminal reflection on the power of English courts to issue antisuit injunctions when global banking disputes increasingly straddle multiple jurisdictions, says Josep Galvez of 4-5 Gray's Inn.
Identifying Data Center Investment Challenges, Opportunities

The role of data centers is expanding, as are new opportunities for private capital investors, but there are issues to consider, including finance models and contract complexity, as well as power supply, cyber threat resilience and data sovereignty, say lawyers at Ropes & Gray.
What EU Bank Regulator's Letter Means For Crypto Providers

A recent letter from the European Banking Authority notes a need to avoid dual authorization for e-money token transactions under European Union payment services and cryptocurrency regulations, which could result in a high regulatory burden for crypto-asset service providers and leaves open questions for future political negotiations, say lawyers at Morgan Lewis.