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Financial Services UK
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September 05, 2025
Ex-NASA Scientist Gets 2 Years For £1M Investment Fraud
A London judge sentenced a former NASA scientist to two years in prison Friday for fleecing more than 100 investors out of nearly £1 million ($1.4 million) as part of an unauthorized trading scheme.
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September 05, 2025
Ex-Insurance CEO To Pay £5M For Pocketing Business Loan
A London court on Friday found the former chief executive of a defunct Liechtenstein insurer liable to pay back £4.96 million ($6.7 million) after pocketing a loan from the company for no legitimate business purpose.
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September 05, 2025
Retirement Confidence Rises, But Isn't Shared Equally
More workers in the U.K. are confident of retiring comfortably than before, with men and young employees showing strong optimism compared with women and other age groups, according to research by pensions provider Aegon.
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September 05, 2025
Top Commercial Dispute Cases To Watch In The Rest Of 2025
Litigators will be eagerly awaiting the first "dieselgate" trial in what will be the largest ever group action in England and Wales when the courts return after the summer recess, as well as keeping an eye out for the outcome of a £36 billion ($49 billion) claim against BHP. Here, Law360 looks at those and other big cases to watch out for the rest of 2025.
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September 05, 2025
Ex-AllSaints Chair Faces Sentence For Contempt
An arm of private equity firm Lion Capital urged a London judge Friday to sentence the former chairman of clothing brand AllSaints for contempt of court after he continued to claim an interest in shares after his allegations of fraud were rejected.
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September 05, 2025
EU Watchdog Urged To Clarify Derivatives Clearing Rules
Representatives of the fund management and derivatives industries have urged European regulators and lawmakers to clarify technical planned rules for companies that clear derivatives under a regime known as European Market Infrastructure Regulation 3.
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September 05, 2025
SPB Steering Multiemployer Collective Pension Plan Launch
Squire Patton Boggs has said it is advising TPT Retirement Solutions as the company plans to launch what is expected to be the U.K.'s first multiemployer collective defined contribution scheme.
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September 05, 2025
Brits Prioritize Fitness Over Pension Savings, ABI Says
Every fifth Briton prioritizes physical health now over their future financial health, according to research by Pension Attention, a national awareness campaign for pensions.
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September 05, 2025
CMS Taps Middle East Banking Pro From Norton Rose
CMS Cameron McKenna Nabarro Olswang LLP has said that Nicholas Robinson has joined the firm from Norton Rose Fulbright as a partner in Dubai, a move expected to help the firm expand its service to clients.
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September 05, 2025
FCA Pushes LSE To Open Access To High-Speed Data Facility
The London Stock Exchange Group said Friday that it will allow other U.K. trading venues to use the rooftop facility of its data center, after the Financial Conduct Authority raised concerns that restricting access could be hindering competition.
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September 05, 2025
Investment Manager Oberon Raises £1.6M, Eyes Team Boost
Oberon said Friday that it has raised around £1.6 million ($2.2 million) through selling shares, as the investment management business looks to bring more industry professionals on board.
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September 05, 2025
FCA's New Redress Powers Spark Some Legal Concerns
Government plans to reform the Financial Ombudsman Service will give the Financial Conduct Authority new powers to introduce wide-ranging consumer redress programs at its discretion, leading lawyers to warn that the regulator could become too susceptible to public pressure.
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September 04, 2025
Fintech Exec Proves Redundancy Was Unfair
A London tribunal has ruled that a fintech company unfairly dismissed an executive after delays in its redundancy process meant he missed the chance to apply for an alternative role.
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September 04, 2025
HMRC Adds Barrister To Tax Avoidance List For First Time
HM Revenue and Customs took the step on Thursday of naming for the first time a practicing barrister with 20 years' experience as a promoter of a scheme to avoid paying income tax and National Insurance contributions.
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September 04, 2025
Crane Co. Can Deduct VAT On Intragroup Payments, ECJ Says
A Romanian crane company can claim deductions for value-added tax on intragroup payments because the services provided were genuine, the European Union's top court ruled Thursday.
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September 04, 2025
Ex-FCA Supervisor Says Tribunal Denied Him Fair Trial
A former supervisor at the City watchdog argued at an appellate tribunal in London on Thursday that his unfair dismissal claim against the regulator did not receive a fair hearing, saying that a lower court had made factual errors in its judgment in the case.
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September 04, 2025
Top EU Court Says Pseudonymized Data Is Still Personal
The highest court of the European Union ruled Thursday that comments submitted by shareholders and creditors of a collapsed Spanish bank during an investigation following the sale of the lender could be treated as personal data even though they had been pseudonymized.
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September 04, 2025
UK's AI Sector Hits Record £2.9B Investment In 2024
Investors plugged a record £2.9 billion ($3.9 billion) into British artificial intelligence companies in 2024, the government has said, as it set out plans to help grow the U.K.'s AI assurance market.
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September 04, 2025
UK Set To Close Loopholes In Money Laundering Rules
HM Treasury has released detailed draft changes to the anti-money laundering regime to close regulatory loopholes exploited by businesses in all sectors, including crypto-asset companies.
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September 04, 2025
Shareholders Back Apax Partners' €916M Apax Global Deal
Investment company Apax Global Alpha Ltd. said Thursday that its shareholders have thrown their weight behind a €916.5 million ($1.1 billion) takeover deal put forward by Apax Partners LLP, a private equity firm that it works with.
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September 03, 2025
Eversheds Adds New Partners From Latham And A&O
Eversheds Sutherland said Wednesday that it has hired three new partners from A&O Shearman, Latham and the former owner of discount retailer Poundland, strengthening its corporate and commercial practices.
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September 03, 2025
4 Firms Steer $2.7B Sale Of Aon's NFP Wealth Biz
Aon said Wednesday it has agreed to sell various business units that make up the majority of NFP's wealth management operations to private equity firm Madison Dearborn Partners in a transaction worth $2.7 billion, with Skadden, Dentons, Paul Weiss and Kirkland representing the parties.
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September 03, 2025
Charity Regulator Probes Alleged Funds Misuse At Food Bank
The U.K.'s charity regulator said on Wednesday that it has launched an inquiry into a food bank in Merseyside over allegations of misuse of funds after a major donor stopped donations.
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September 03, 2025
UK Autumn Budget Set For November, Reeves Confirms
The U.K. government will announce its autumn budget in November, Chancellor of the Exchequer Rachel Reeves said Wednesday amid growing speculation that the government will raise taxes to cover the rising cost of borrowing.
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September 03, 2025
Investors Lose Bid For Pension Orders In AI Bike Fraud Case
Investors seeking to enforce a fraud judgment against the founders of an AI-driven exercise bike company suffered a setback Wednesday, when a London judge declined to finalize interim debt orders against the founders' pensions.
Expert Analysis
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FCA Notes Industry Criticism But Keeps Transparency Focus
The Financial Conduct Authority’s recently updated enforcement guide finally gives up the "naming and shaming" public interest test, demonstrating that the regulator has recognized the industry's serious concerns while maintaining less contentious aspects of its proposals to improve transparency in investigations, say lawyers at Irwin Mitchell.
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Anticipating A Shift In CMA Merger Control Enforcement
As the Competition and Markets Authority outlines plans to put the U.K. government's growth objectives into action, the changes may well pave the way for a more permissive outlook for review of mergers and acquisitions in the U.K., say lawyers at A&O Shearman.
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Court Backing Of FCA Pensions Ruling Sends Key Message
The Upper Tribunal’s recent upholding of the Financial Conduct Authority's decisions against CFP Management directors serves as a judicial endorsement of the regulator’s approach to defined benefit transfers, underscoring that where the advisory model is fundamentally flawed, the consequences for those in control can be severe, say lawyers at RPC.
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Saxon Woods Ruling Tightens Rules On Director Good Faith
The recent Court of Appeal judgment in Saxon Woods v. Costa departs from the High Court's ruling, clarifying that a director's sincere belief they have acted in the company’s best interests is not sufficient to satisfy the statutory requirement to act in good faith, say lawyers at Covington.
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Key Points From HMRC's Tax Reform Proposals
Although HM Revenue & Customs’ recent proposals for reform of U.K. transfer pricing and permanent establishment rules align with the latest international consensus, certain amendments may lead to future controversy, say lawyers at Skadden.
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What To Note As UK Adopts OECD Crypto Disclosure Rules
With the U.K.’s recent announcement that it will adopt the Organization for Economic Cooperation and Development's crypto-asset reporting framework, users and providers will benefit from understanding the context surrounding the decision and the framework's intended goal of clamping down on tax evasion, say lawyers at Brown Rudnick.
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Comparing Stablecoin Bills From UK, EU, US And Hong Kong
For multinational stablecoin issuers, navigating the differences and similarities among regimes in the U.K., EU, Hong Kong and U.S., which are currently unfolding in several key ways, is critical to achieving scalable, compliant operations, say attorneys at Morgan Lewis.
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How UK Law Firms Can Counter Money Laundering Threat
With figures released in May showing that money laundering was the biggest source of fraud in the U.K. last year, law firms should focus on internal identification and prevention strategies, considering the scale and nature of potential risk exposure depends on several business factors, says Niall Hearty at Rahman Ravelli.
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Key Takeaways As EU And UK Impose New Russia Sanctions
The European Union and U.K.’s new sanctions on Russia, designating increasing numbers of non-Russian companies in the defense and shipping sectors, mean that organizations must examine from the outset whether a transaction has any nexus with the EU or the U.K., say lawyers at Sullivan & Cromwell.
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Pension Schemes Bill's Most Notable, Controversial Measures
The long-awaited Pension Schemes Bill recently introduced to Parliament creates a framework for harnessing money saved in U.K. workplace pension funds to grow the country’s economy, but provisions relating to local government pension scheme investment, and scale and asset allocation, are controversial, says Claire Dimmock at Squire Patton.
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What New FCA Private Stock Market System Could Offer Cos.
While the Financial Conduct Authority’s new secondary private stock market system will bring more control and less ongoing regulatory compliance than a public market, but because the regime grants a significant degree of flexibility to operators it may be some time before a full operational picture emerges, says Iain Wright at Morgan Lewis.
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Fraud Office Guidance Highlights Value Of Self-Reporting
New guidance from the U.K.'s Serious Fraud Office on corporate self-reporting, cooperation and deferred prosecution agreements provides a useful framework for companies navigating criminal investigations and their potential resolutions — and underscores that corporations that self-report are in a better position to obtain DPAs than those that do not, say lawyers at Skadden.
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Open Questions As FCA Prepares Buy Now, Pay Later Rules
HM Treasury’s recent response to its consultation on buy now, pay later lending regulation is clear on policy, but with rules still to be set by the Financial Conduct Authority it is difficult for firms to plan for change, and they should take advantage now of the opportunity to liaise with the regulator, say lawyers at Hogan Lovells.
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What End of Payment Systems Regulator Means For Biz
The U.K. government’s plan to abolish the Payment Systems Regulator and absorb its functions into the Financial Conduct Authority should eventually lighten the compliance burden for businesses under the PSR’s remit, which may in turn encourage growth, but the proposed changes will roll out slowly, say lawyers at Farrer & Co.
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Compliance Lessons From Art Dealer's Terror Financing Plea
Regulated businesses can learn from the missteps of a recently convicted London art dealer, who failed to disclose sales to a suspected Hezbollah financier, by implementing compliance measures like anti-terrorism financing screenings as robust as their anti-money laundering policies and training staff to spot red flags, say lawyers at White & Case.