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Financial Services UK
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November 03, 2025
JTC Completes £20M Buy Of Swiss Bank Unit
Fund administrations services provider JTC said Monday that it has completed the £20 million ($26.3 million) acquisition of a financial services company that caters to ultra and high-net-worth clients from Swiss private bank Union Bancaire Privée SA.
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November 03, 2025
Travers Smith-Led Pensions Biz Buys AJ Bell Unit For £25M
Online investment platform AJ Bell said Monday that it has completed the sale of its retirement savings arm, Platinum, to U.K. pensions administrator InvestAcc Group Ltd. in a deal worth up to £25 million ($33 million).
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November 03, 2025
Watchdogs Set Landmark Rules For UK-Swiss Finance
Financial regulators published rules on Monday under a landmark agreement that will allow Swiss and U.K. firms to trade across borders based on the recognition that the two countries' supervisory regimes have equivalent outcomes.
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November 03, 2025
MoFo Snaps Up London Finance & Fintech Veteran
Morrison Foerster has strengthened its financial services and fintech bench with a partner from Orrick Herrington & Sutcliffe LLP as the U.S. firm continues to bulk up its London practice.
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October 31, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen two regional law firms clash at the intellectual property court over the name Amicus Solicitors, Bill's Restaurant face a breach of contract suit by its former executive chair, and a Capita subsidiary sue the Metropolitan Police over a multimillion-pound procurement dispute.
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October 31, 2025
EU Banking Watchdog Lays Down Unified AML Rules
The European Union's banking watchdog has laid out proposals for the bloc's new anti-money laundering framework, highlighting that member states' significantly varying quality and scope of approaches to the issue have hampered its regulation.
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October 31, 2025
Lawmakers Ask Gov't To Measure FCA Support For Growth
A committee of the House of Lords urged HM Treasury on Friday to set measures for how effectively Britain's financial regulators support the government's economic strategy for growth.
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October 31, 2025
FCA Warns Wealth Managers On Risk In Advice Consolidation
The Financial Conduct Authority said Friday it has found that some companies are relying on risky borrowing when they acquire financial advisers and have unresolved conflicts of interest, alongside other failings that could harm consumers.
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October 31, 2025
UK Sanctions Banker For Backing Iranian Military Group
The government has sanctioned an Iranian banker and businessman for his role in financially supporting the activities of the Islamic Revolutionary Guard Corps, a primary military branch of the country's armed forces.
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October 30, 2025
London Stock Exchange Botched MayStreet Deal, Suit Says
MayStreet Inc.'s co-founder and former CEO sued the London Stock Exchange Group PLC and a few of its subsidiaries Thursday in the Delaware Chancery Court, claiming they lured him into selling the company with false promises of growth and then failed to honor post-closing obligations under the merger contract.
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October 30, 2025
EU's Top Court Axes Dutch Co.'s Challenge Against Pillar 2
The European Union's top court declined Thursday to revive a Dutch company's case against an EU directive that implements an international minimum tax agreement known as Pillar Two, holding that the business lacked standing to challenge the law.
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October 30, 2025
EU Eases Capital Rules For Banks, Insurers To Help Growth
The executive body of the European Union has eased some capital rules for institutional investors to help them invest more in the economy and boost bloc-wide growth.
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October 30, 2025
Ex-Virgin Media Worker Fined For Selling Data Used In Fraud
A former Virgin Media O2 employee has admitted to selling confidential customer data to a family friend for use in a boiler room fraud, in the first Financial Conduct Authority prosecution under the Data Protection Act, the regulator has revealed.
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October 30, 2025
Reinsurers Say Bank Filed Russian Jet Engine Claim Too Late
A group of reinsurers has denied owing Bank of Utah $9.5 million over a jet engine allegedly stuck in Russia since the country's invasion of Ukraine, saying the claim is time-barred under Russian law.
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October 30, 2025
Shawbrook Group Prices IPO At £1.92B Valuation
Shawbrook Group PLC on Thursday set its initial public offering price at 370 pence ($4.90) per share, implying a market capitalization of approximately £1.92 billion, as the U.K. lender began trading on the London Stock Exchange.
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October 30, 2025
Libyan Fund Fees Were Legit Compensation, Financiers Claim
The former head of a U.K. fund manager and a Swiss banker have denied diverting millions of dollars in improper fees from a Libyan sovereign wealth fund, telling a court on Thursday that any fees they accepted were legitimate compensation for their work.
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October 30, 2025
Ombudsman Complaints Down But Insurance Cases Rise
The number of insurance complaints has increased by 14% over the past quarter, the U.K.'s financial arbitration body said, even as overall complaints across all sectors declined.
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October 30, 2025
FCA Investigating 76 Cases Of Non-Financial Misconduct
The Financial Conduct Authority is currently investigating 76 cases of bullying, harassment or discrimination in the financial sector, a senior executive has told a parliamentary committee.
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October 30, 2025
Irish State-Owned Lender PTSB Puts Itself Up For Sale
Permanent TSB Group Holdings PLC, a lender which is majority owned by Ireland, said Thursday that it has put itself up for sale as the state looks to exit its financial crisis-era holdings in the banking sector.
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October 29, 2025
Appeals Court Adjusts Award In Risky Trading Product Dispute
An investment firm partially won a challenge to a compensatory award for an amateur investor it allowed to use an advanced high-risk product, with an appeals court ruling Wednesday that the investor was partially to blame for overstating his experience.
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October 29, 2025
UK Starts Redress Program For 'Capture' Post Office Scandal
The government launched a new compensation program on Wednesday for postmasters who suffered financial losses as a result of faulty Capture accounting software.
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October 29, 2025
Iraqi Fails To Block Kuwait Extradition Over £243M Fraud
An Iraqi national wanted in Kuwait over an alleged £243 million ($322 million) property fraud has failed to challenge his extradition, as a court found Wednesday that it was the correct move amid strong public interest in the U.K. honoring its international obligations.
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October 29, 2025
Fired Bank of Africa Whistleblower Argues UK Arm Is Liable
The former head of human resources for Bank of Africa argued Wednesday that a London tribunal had rightly held the lender's U.K. arm liable for her firing and mistreatment for whistleblowing, as she fought its appeal against the ruling.
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October 29, 2025
CMA Finalizes Updates To Simplify Phase 1 Merger Probes
The Competition and Markets Authority has finalized a series of updates to its merger control processes, aiming to make its reviews faster, clearer and more predictable to help make the U.K. more business-friendly.
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October 29, 2025
Firms That Overstate AI Capabilities Face Risks, Insurer Warns
Companies that over-hype the impact of new artificial intelligence technologies on their business could face potential shareholder or regulatory action down the road, an insurer warned.
Expert Analysis
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A Look At UK, EU And US Cartel Enforcement Trends
The European Union, U.K. and U.S. competition agencies' recently issued joint statement on competition risks in generative artificial intelligence demonstrates increased cross-border collaboration on cartel investigations, meaning companies facing investigations in one jurisdiction should anticipate related investigations in other jurisdictions, say lawyers at Latham & Watkins.
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Testing The Limits Of English Courts' Pro-Arbitration Stance
Although the Court of Appeal recently upheld a $64 million arbitration award in Eternity Sky v. Zhang, the judgment offers rare insight into when the English courts’ general inclination to enforce arbitral awards may be outweighed by competing policy interests such as consumer rights, say Declan Gallivan and Peter Morton at K&L Gates.
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What Green Claims Directive Proposal Means For Businesses
With the European Union’s recent adoption of a general approach to the proposed Green Claims Directive, which will regulate certain environmental claims and likely be finalized next year, companies keen to publicize their green credentials have even more reason to tread carefully, say Marcus Navin-Jones and Juge Gregg at Crowell & Moring.
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£43M Legal Bill Case Shows Courts' View On Exchange Rates
A recent Court of Appeal decision declined to change the currency used for payment of the Nigerian government's legal bill, aligning with British courts' consensus that they should not be concerned with how fluctuating exchange rates might benefit one party over another, says Francis Kendall at Kain Knight.
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Examining The EU's New Payments Services Package
Following recent European Parliament elections, the spotlight is turning to the highly anticipated payments services package expected in September, marking a pivotal moment in the legislative process that will reshape the payment services ecosystem in the European Union, says Kristýna Tupá and Karolína Hlavinková at Schoenherr.
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Examining The State Of Paccar Fixes After General Election
Following the U.K. Supreme Court's Paccar decision last year, which made many litigation funding agreements for opt-out collective actions in the Competition Appeal Tribunal unenforceable, the judiciary will likely take charge in implementing any fixes — but the general election has created uncertainty, says Ben Knowles at Clyde & Co.
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EU Reports Signal Greenwashing Focus For Financial Sector
Reports from the European Supervisory Authorities on enforcement of sustainability information, plus related guidance issued by the European Securities and Markets Authority, represent a fundamental change in how businesses must operate to maintain integrity and public trust, say Amilcare Sada and Matteo Fanton at A&O Shearman.
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Opinion
Without Change, Fighting Fraud Is A Losing Battle For The UK
To successfully fight fraud cases in the U.K. — like the Russian Coms scam recently shut down by the National Crime Agency — it is clear there needs to be significant investment in recruiting and training expert investigators, and meaningful engagement between the country’s intelligence platforms, says Anthony Hanratty at Howard Kennedy.
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Embedding Consumer Duty: 6 Areas Firms Should Prioritize
The Financial Conduct Authority has repeatedly emphasized that complying with the Consumer Duty is not a tick-box exercise but an ongoing responsibility, so firms need to show that the duty is at the heart of their practices by staying compliant in areas from cultural change to customer vulnerability, say Nicola Higgs and Becky Critchley at Latham.
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2 UK Rulings Highlight Persistent Push Payment Fraud Issues
Two recent High Court decisions, Larsson v. Revolut and Terna DOO v. Revolut, demonstrate that authorized push payment fraud continues to cause headaches for consumers and financial institutions alike, and with forthcoming mandatory reimbursement requirements, more APP fraud litigation can be expected, say lawyers at Charles Russell.
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Open Questions 3 Years After 2nd Circ.'s Fugitive Ruling
The Second Circuit’s 2021 decision in U.S. v. Bescond, holding that a French resident indicted abroad did not meet the legal definition of a fugitive, deepened a circuit split on the fugitive disentitlement doctrine, and courts continue to grapple with the doctrine’s reach and applicability, say attorneys at Lankler Siffert.
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Key Points From UK Prospectus Regime Reform Consultation
The Financial Conduct Authority's current consultation on U.K. prospectus regime reform proposals, including when a prospectus will be required and the requirements concerning content, is designed to enhance the attractiveness of the U.K.'s capital markets, say lawyers at Sullivan & Cromwell.
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Why NCA's 1st Seizure Of Sanctioned Funds Is Significant
The National Crime Agency’s recently secured forfeiture of a Russian oligarch's sanctioned funds was a landmark achievement, and is particularly notable because it was made under the Proceeds of Crime Act, illustrating how U.K. authorities can coordinate their respective powers to confiscate assets, says Lindsey Cullen at WilmerHale.
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Takeaways From New FCA Rules On Research Payments
The Financial Conduct Authority’s recently published final rules on payment optionality for investment research, which involve a client disclosure obligation option, will be welcome news for U.K. managers who buy investment research from U.S. brokers, and for global asset management groups, says Anna Maleva-Otto at Schulte Roth.
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What To Expect From Labour's Pension Schemes Bill
The Labour government’s recently announced Pension Schemes Bill, outlining key policy areas affecting the retirement savings sector, represents a positive step forward for both defined contribution scheme members and defined benefit superfunds, but there are some missing features, says Sonya Fraser at Arc Pensions.