Financial Services UK

  • August 04, 2025

    StanChart Can't Withhold Docs In £1.5B Iran Sanctions Case

    Standard Chartered on Monday lost a bid to withhold regulatory documents from investors suing the bank for £1.5 billion ($2 billion) for allegedly making untrue or misleading statements about its noncompliance with sanctions.

  • August 04, 2025

    Court Freezes Couple's £5M Over Alleged Misuse Of Co. Cash

    A London court granted a freezing order Monday worth more than £5.1 million ($6.8 million) against a married couple accused of siphoning funds from a holding company, finding that there is a real risk that they will scatter their assets.

  • August 04, 2025

    Sellers To Pay £5M For Hiding Breaches In Education Biz Sale

    The sellers of a military education business must pay more than £5.2 million ($6.9 million) in damages to the buyer after a court held Monday they had breached the terms of the deal by not disclosing violating funding regulations.

  • August 04, 2025

    VC Firm Beats Ex-Rosenblatt Firm's Legal Bill Appeal

    A venture capital firm beat a City law firm's appeal over costs the firm claimed to be owed for its representation under a conditional fee agreement when a London judge ruled that the financial business could not be criticized for raising an argument late in its dispute about whether it was liable to pay the legal bill.

  • August 04, 2025

    Pensions Dashboards Could Ease UK Inheritance Tax 'Chaos'

    The government could use new online retirement savings portals to ease the expected chaos around introducing inheritance tax on pension wealth, a professional services company said Monday.

  • August 04, 2025

    Accountancy Boss Denies Siphoning Funds During Exit Talks

    A businessman accused of wrongly extracting at least £850,000 ($1.1 million) from an accountancy has denied this was a conspiracy to harm the firm and claimed he was taking out money he considered at the time that he and his wife were owed.

  • August 04, 2025

    UBS To Pay DOJ $300M To Settle Inherited Credit Suisse Case

    Swiss bank UBS said Monday it has agreed to pay the U.S. Department of Justice $300 million to settle outstanding obligations inherited from the mortgage-backed securities business of Credit Suisse, the lender it acquired in 2023.

  • August 04, 2025

    Motor Finance Redress Scheme Could Reach £18B, FCA Says

    The Financial Conduct Authority has proposed a compensation program for motor finance customers after a landmark U.K. Supreme Court decision on Friday found signs that consumers were being treated unfairly, as the watchdog estimated that the cost could reach £18 billion ($24 billion).

  • August 02, 2025

    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.

  • August 01, 2025

    Taxation With Representation: Skadden, Wachtell, Latham

    In this week's Taxation With Representation, Union Pacific Corp. and Norfolk Southern Corp. announce megamerger plans, Palo Alto Networks acquires identity security company CyberArk, Brookfield buys British life insurer Just Group, and Duke Energy sells its Piedmont Natural Gas Tennessee local distribution business to Spire Inc.

  • August 01, 2025

    Ex-AllSaints Chair In Contempt Over Share Sale Fraud Claims

    A London court ruled Friday that the former chairman of AllSaints was in contempt of court for breaching an order to stop claiming an interest in shares in the high street fashion chain after his fraud allegations were rejected.

  • August 01, 2025

    Gov't Fines UK Biz For Russia Sanctions Breach

    The U.K.'s Office of Financial Sanctions Implementation has fined U.K.‑based business support services provider Markom Management Ltd. for violating financial sanctions tied to Russia's 2014 annexation of Crimea.

  • August 01, 2025

    Barclays Adviser Wrongly Fired Over Sexual Remarks

    A former Barclays employee was unfairly dismissed for making sexual comments to female colleagues, but he could have been fairly dismissed for the same conduct, according to a Glasgow tribunal ruling.

  • August 01, 2025

    Top Court Hands Banks Partial Win Over Motor Finance Fees

    Car finance providers won a partial victory in a landmark case over commission payments on Friday when the U.K. Supreme Court ruled that they did not owe a duty to provide customers with information about the fees, potentially avoiding a multibillion-pound compensation scheme. 

  • August 01, 2025

    FCA Widens Crypto ETN Access To Boost Competitiveness

    The Financial Conduct Authority said Friday it will lift its ban on retail access to cryptocurrency exchange‑traded notes from Oct. 8, allowing individual investors to buy these products through U.K.‑listed trading venues.

  • August 01, 2025

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen several telco giants hit with a trademark claim, a collapsed hotel company sue a property investor in an ongoing dispute over a decades-old hotel sale, and two litigation funders square off against each other.

  • August 01, 2025

    Ogilvy & Wachtel-Led Investors Oppose Hedge Fund Merger

    A group of investors in Third Point told fellow shareholders in the hedge fund on Friday that the proposed merger with Malibu Life Reinsurance will establish "a dangerous precedent for the U.K. stock market" of not safeguarding interests of the minority.

  • August 01, 2025

    FCA Hits Brokerage With £1M Fine For Deal Report Failures

    The City watchdog said Friday that it has hit a global brokerage with a fine of more than £1 million ($1.3 million) for the "particularly serious" failure to submit complete and accurate transaction reports over a five-year period.

  • July 31, 2025

    Asset Freeze Sticks In Billionaire's $415M Fraud Case

    A London appeals court on Thursday upheld an asset freeze against a man accused of defrauding Ricardo Salinas Pliego out of more than $415 million, finding no reason to doubt the Mexican billionaire is "exceedingly wealthy" and able to compensate the other side if he ultimately loses his claim.

  • July 31, 2025

    Developer Denies Misusing Victims' Funds In £226M Fraud

    A developer convicted for running a £226 million ($299 million) Ponzi scheme denied treating overseas properties bought with his victims' money as his "pension fund" as he gave evidence in court Thursday.

  • July 31, 2025

    SocGen, ING Win €212M EuroChem Bonds Sanctions Fight

    A Russian subsidiary of EuroChem lost its fight Thursday to force European banks to pay out on €212 million ($242 million) worth of bonds, after a court ruled that the payouts are blocked because the Swiss agricultural chemicals company is owned by a sanctioned oligarch.

  • July 31, 2025

    Asset Manager Denies Breaching NDA For €118M Deals

    A London-based investment manager has sued two companies of the Italian asset manager giant Azimut for millions over deals related to an investment in a machinery manufacturer, but Azimut has denied breaching the deal saying it had been released from its obligations.

  • July 31, 2025

    FCA Finds Failings In Digital Loan Application Processes

    The Financial Conduct Authority said Thursday that some companies are designing digital loan application processes badly, slowing decision-making and excluding cost information that consumers need.

  • July 31, 2025

    SRA Warns Law Firms Over Handling Of Motor Finance Claims

    The solicitors' watchdog warned law firms Thursday that they must tell prospective clients about possible cost-free ways to pursue their motor finance commission claims before agreeing to act on a case for a fee.

  • July 31, 2025

    Pensions Ombudsman Says Caseload Is Outpacing Funding

    The Pensions Ombudsman said that its funding has failed to keep pace with the rising caseload of complaints, forcing it to look at artificial intelligence to help reduce waiting times.

Expert Analysis

  • Review Of EU Cross-Border Merger Regs' Impact On Irish Cos.

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    Looking back on the year since the European Union Mobility Directive was transposed into Irish law, enabling Irish and European Economic Area limited liability companies to participate in cross-border deals, it is clear that restructuring options available to Irish companies with EU operations have significantly expanded, say lawyers at Matheson.

  • A Look At UK, EU And US Cartel Enforcement Trends

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    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.

  • Testing The Limits Of English Courts' Pro-Arbitration Stance

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    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.

  • What Green Claims Directive Proposal Means For Businesses

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    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.

  • £43M Legal Bill Case Shows Courts' View On Exchange Rates

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    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.

  • Examining The EU's New Payments Services Package

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    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.

  • Examining The State Of Paccar Fixes After General Election

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    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.

  • EU Reports Signal Greenwashing Focus For Financial Sector

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    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.

  • Opinion

    Without Change, Fighting Fraud Is A Losing Battle For The UK

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    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.

  • Embedding Consumer Duty: 6 Areas Firms Should Prioritize

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    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.

  • 2 UK Rulings Highlight Persistent Push Payment Fraud Issues

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    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.

  • Open Questions 3 Years After 2nd Circ.'s Fugitive Ruling

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    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.

  • Key Points From UK Prospectus Regime Reform Consultation

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    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.

  • Why NCA's 1st Seizure Of Sanctioned Funds Is Significant

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    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.

  • Takeaways From New FCA Rules On Research Payments

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    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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