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Financial Services UK
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February 25, 2026
SFO To Claw Back 'Mere Fraction' From £226M Ponzi Fraud
A judge ordered a property developer convicted of running a £226 million ($305.5 million) Ponzi scheme to pay back just £283,000 on Wednesday after concluding that the vast majority of the investors' money was lost or siphoned off as a family "money pot."
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February 25, 2026
NFT Merchants Sue Crypto Co. Over €2M In Withheld Funds
Two British e-commerce companies have sued a Malta-based crypto-payments provider at the High Court in London, alleging it unlawfully withheld €2.18 million ($3 million) in customers' money.
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February 25, 2026
Consultant Settles £1.4M Insurance Row With Wealth Manager
A former consultant has settled her £1.4 million ($1.9 million) claim against a financial consultancy after she sued it for allegedly failing to arrange adequate insurance cover, which she claims left her short of money during serious illness and surgery.
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February 24, 2026
Mishcon Denies It Was Negligent In Administration Row
Mishcon de Reya LLP has denied acting negligently when it advised two former directors of a brand development business to place the holding company and its U.K. arm into administration.
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February 24, 2026
EU Eases Sustainability Reporting Rules In Growth Bid
European lawmakers gave their final agreement on Tuesday to reduce sustainability and governance reporting rules for businesses as part of a broader bid to cut regulation to drive competition across the bloc.
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February 24, 2026
Ex-Lloyds Staffer Wins £26K Over Firing For Racist Slur
Lloyds Bank PLC must pay one of its former employees more than £26,000 ($35,000) for unfair dismissal after a London employment tribunal found the bank had botched a disciplinary investigation into allegations she made racist and derogatory remarks.
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February 24, 2026
UK Hits Russian Banks, Oil And Weapons In Sanctions Blitz
The government launched a barrage of almost 300 new sanctions on Russia on Tuesday in a bid to crack down on the country's energy industry and suppliers of military equipment that have backed the invasion of Ukraine.
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February 24, 2026
CFD Rules May Apply To New Derivatives, ESMA Warns Firms
Europe's top securities regulator warned Tuesday that newly marketed crypto-native derivatives such as "perpetual futures" are likely covered by existing restrictions on contracts for differences and must comply with investor-protection rules.
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February 24, 2026
BoE Sets Out Rules On Longer CHAPS Settlement Times
The Bank of England said Tuesday it will extend the operating hours of its CHAPS system of high-value interbank payments, as part of its long-term plan to modernize the U.K.'s core payment infrastructure.
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February 24, 2026
StanChart To Launch $1.5B Buyback
Banking group Standard Chartered PLC unveiled a bumper $1.5 billion share buyback program on Tuesday as it delivered its financial results for 2025 amid "robust growth" in its larger markets.
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February 23, 2026
South Korea Wins Rethink Of $48.5M Hedge Fund Award
South Korea persuaded a London court Monday to partly set aside a $48.5 million arbitration award over claims that the country's former president and senior officials unlawfully interfered in an $8 billion merger between two Samsung affiliates in 2015.
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February 23, 2026
EU Watchdog Slashes MiFID Compliance For Exchanges
The European Union's financial markets regulator said Monday that it has withdrawn with immediate effect its guidelines for market data providers under the regime known as the Markets in Financial Instruments Directive II to reduce the compliance burden.
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February 23, 2026
Chinese Finance Firm Blocks UK 'Unisonpay' Trademark
The UK Intellectual Property Office has refused a U.K. financial services company's trademark application for the "Unisonpay" mark, finding the name is likely to confuse consumers with earlier marks owned by China UnionPay Co. Ltd.
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February 23, 2026
Global Exchange Body Warns Of Longer Trading Hours Risks
Any move to extend exchange trading hours across the globe requires "deep coordination" and must involve improvements to financial market infrastructure to avoid a range of potential risks linked to around-the-clock trade, a London-based global exchange group has said.
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February 23, 2026
Property Co. Says Lenders Can't Block Claim Over $68M Debt
A Nigerian real estate company has said that two lenders cannot use the English courts to block it from pursuing proceedings against them in the west African country over the business' allegedly outstanding $68.6 million debt.
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February 23, 2026
ESMA Clarifies Rules On Active Financial Clearing Accounts
Europe's financial markets regulator has issued new supervisory guidance to clarify how major companies must meet an important post-Brexit obligation for derivatives clearing under European Union law and report on it to supervisors.
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February 20, 2026
Reality TV Stars Cop To Charges For Illegal Forex Trading Ads
A London judge on Friday fined seven reality TV stars and social media influencers for promoting an unauthorized trading scheme where they recommended high-risk financial products tied to foreign exchange rates.
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February 20, 2026
UK Litigation Roundup: Here's What You Missed In London
The last week in London saw the founders of Getir sue investment fund Mubadala for more than $700 million tied to alleged breaches during the company's restructuring, the Welsh Rugby Union face a claim by Swansea Council over a proposed takeover of Cardiff Rugby, and Euro Car Parks target the Competition and Markets Authority after it was fined by the watchdog. Here, Law360 looks at these and other new claims in the U.K.
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February 20, 2026
JP Morgan Fined €12.2M By ECB For Misreporting Risk
The European Central Bank has fined J.P. Morgan €12.18 million ($14.35 million) for breaching reporting rules governing capital held against the risk of default, saying the company was guilty of serious negligence and had deficiencies in its internal processes.
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February 20, 2026
FCA Clarifies Conflicting UK Rules For Share Issuers
The Financial Conduct Authority has clarified overlapping rules on how quickly banks bringing shares to the stock market must notify a regulatory information service such as the London Stock Exchange's RNS.
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February 20, 2026
EU Regulator Slaps REGIS-TR With Record €1.4M Fine
The European Union markets regulator has fined REGIS-TR a record €1.37 million ($1.61 million) for rule breaches that put at risk the confidentiality of trading data essential for surveillance of the market by watchdogs, the highest penalty it has yet imposed on a trade depository.
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February 20, 2026
HSF Kramer-Led Swiss Re To Buy QBE Business Segment
Swiss Re Group said Friday its commercial insurance division has agreed to acquire the global trade credit and surety business of Australia's QBE Insurance Group, to satisfy growing demand for its risk management services.
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February 20, 2026
Quinn Emanuel Client Can't Block Ex-Staffer's Abusive Emails
An appeals court rejected a bid by a Quinn Emanuel client on Friday to prevent a former employee from sending abusive messages to the firm's lawyers, saying that it could have pursued proceedings itself to stop the harassment.
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February 19, 2026
Payment Co. Founder Denied Relief In Whistleblower Case
A tribunal has refused interim relief to the former owner of a payment services company, finding that his claim he was dismissed for blowing the whistle on breaches of Financial Conduct Authority regulations is not likely to succeed at this stage of the litigation.
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February 26, 2026
UK Finance Trade Body Hires Ex-KPMG General Counsel
The Finance & Leasing Association said Thursday that it has recruited a former KPMG general counsel to bolster its legal and governance capability amid growing regulatory scrutiny of the sectors it represents.
Expert Analysis
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Freezing Orders Maintain Their Impact 50 Years On
Freezing orders, created in Mareva v. International Bulk Carriers 50 years ago, are now a fundamental part of English and Welsh law and a significant weapon in the litigator's armory, considered indispensable by practitioners seeking to obtain enforceable judgments and interlocutory relief on behalf of their clients, say lawyers at Trowers and Hamlins.
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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.