Insurance UK

Nationwide's £44M AML Fine Signals FCA's 'Hard Line' Stance

The Financial Conduct Authority's fine of £44 million ($58 million) imposed on Nationwide Building Society for failings in anti-money laundering controls has sent a warning to Britain's largest financial institutions that size and reputation are no protection from the rules, lawyers have said.

FCA Misconduct Update Still Leaves Firms 'In The Dark'

Clarity from the Financial Conduct Authority on the limits of its powers to tackle bullying and harassment will come as a relief to professionals — but lawyers have warned that non-banking companies must now join lenders to broaden staff training, revisit conduct policies and strengthen whistleblowing protocols.

4 Things To Watch As UK Releases Budget

The U.K.'s Labour government is set to release an autumn budget Wednesday that faces a test of balancing a pledge not to raise working people's taxes with an expected need to boost revenue to meet fiscal rules. Here are four things to watch for as the budget is issued.

'Name And Shame' Test Case Ruling Could Embolden FCA

Financial services companies should be ready to engage with consumers when faced with enforcement action, in a lesson from a test case of the reasoning behind a Financial Conduct Authority decision to "name and shame" a company that could encourage bolder naming actions, lawyers said.

December 18, 2025
CMS Steers PIC On £230M Port Co. Pension Deal

Pension Insurance Corp. said Thursday that it has completed a £230 million ($308 million) pension deal with Peel Ports Group Ltd. in a deal guided by CMS and Gowling WLG.
December 18, 2025
European Insurtech Lumera To Buy UK Pensions Consultancy

European insurance technology company Lumera said Thursday it has penned a deal to buy Acuity, a British pensions and workforce reform consultancy.
December 18, 2025
Gov't Freezes UK Pension Enrollment Salary Thresholds

The government decided on Thursday against changing the salary threshold at which employers must automatically enroll their staff into a workplace pension, despite growing suggestions that removing the limit could help mitigate the looming savings crisis.
December 18, 2025
EU Agrees Plans To Boost Retail Investment In Capital Markets

The European Union on Thursday proposed a broad package of updated retail investment rules aimed at empowering consumers and boosting competition in financial markets.
December 18, 2025
Debevoise, Eversheds Lead £525M Pension Deal For Skanska

The U.K. subsidiary of Swedish builder Skanska AB said Thursday that it has transferred £525 million ($705 million) of its pension commitments in Britain to Standard Life in a buy-in transaction, which secures the retirement savings of about 5,500 members.
December 18, 2025
FCA To Boost Insurance Standards After Super-Complaint

The Financial Conduct Authority said Thursday that it will boost customers' awareness of cover as part of a plan to drive up standards in the home and travel insurance sector after a super-complaint was filed by consumer group Which.
December 17, 2025
Funds Dropping ESG Labels Amid EU Greenwashing Review

The European Union's financial markets regulator said Wednesday its new naming guidelines governing how investment funds use environmental, social and governance, and sustainability-related language are curbing greenwashing and improving transparency in the financial sector.
December 17, 2025
UK Watchdog Hands Gov't Plan To Tackle Payments Crime

The Financial Conduct Authority told the Treasury in a letter published Wednesday that it is investing more in intelligence and data to disrupt those committing and enabling crime in the payments sector.
December 17, 2025
Womble Bond Steers £107M Pension Deal For Co-Op

British insurance company Rothesay Life has completed a £107 million ($143 million) pension deal for Lincolnshire Co-operative Ltd., guided by Womble Bond Dickinson.
December 17, 2025
Capital One Loses 'Discover' TM For Insurance, Real Estate

The European Union Intellectual Property Office has partially revoked Capital One Financial Corp.'s rights to the "Discover" trademark in the bloc, finding that the mark was not used for some services covered by its registration.
December 17, 2025
Stonegate Hospitality Cos. Say Marsh Botched COVID Cover

A group of companies in the Stonegate Pub Company portfolio has sued insurance broker Marsh for allegedly failing to arrange interruption cover for each individual business, which the group said left it short in the aftermath of the COVID-19 pandemic.
December 17, 2025
Pensions Watchdog Reveals Shrinking Defined Benefit Market

The number of lucrative final salary-type retirement savings plans has dropped by nearly a third over the past 13 years, according to data from The Pensions Regulator.
December 17, 2025
Pension Plans Plot 'Run-On' From £160B Surplus Reforms

More than a quarter of retirement savings plans are considering "running on" to generate investment returns, due to new reforms that could boost the economy by up to £160 billion ($213 billion), according to a survey on Wednesday by PwC.
December 16, 2025
Weil-Led Insurance Brokerage Howden Lands $3B Refinancing

British insurance broker Howden Group has refinanced approximately $3 billion worth of loans on better terms, including upsizing one of the credit facilities to help it achieve financial stability.
December 16, 2025
Claims Inflation Poised To Batter Insurers Next Year, EY Says

Motor insurers are likely to face major losses next year, a consultancy warned, following a period in which the sector slashed prices while under political scrutiny.
December 16, 2025
Saga, Ageas Launch £140M Insurance Partnership

Travel and insurance company Saga PLC said on Tuesday that it has launched its 20-year partnership with the British arm of Ageas SA/NV in a deal worth £140 million ($188 million).
December 16, 2025
Gowling, CMS Guide £7M Pension Deal For Materials Co.

Goodfellow Cambridge Ltd. has offloaded £7 million ($9.4 million) of its pension liabilities to insurer Just Group, in a deal guided by Gowling WLG and CMS Cameron McKenna Nabarro Olswang LLP.
December 16, 2025
FCA Mulling Action Over Briefings, Leaks Ahead Of Budget

The Financial Conduct Authority told lawmakers on Tuesday that it is considering whether to update its official guidance to public bodies after a series of government briefings and leaks in the run-up to the Budget statement.
December 15, 2025
Ex-RSA Boss Hit With 13-Year Ban Over Accounting Scandal

The former chief executive of one of Ireland's biggest insurers has been disqualified for 13 years by the country's financial regulator over an accounting scandal that dates back more than a decade.
December 15, 2025
FCA Sets Out To 'Rebalance Risks' Of UK Mortgage Market

The Financial Conduct Authority outlined a long-term plan on Monday to update mortgage regulation to increase homeownership in the U.K. by shifting risks away from borrowers and slashing conservative lending rules.
December 15, 2025
Gov't Floats Rule Change For Pension Trustee Standards

The government on Monday floated new professional standards for pension trustees and administrators as retirement funds are set to grow rapidly in scale.
December 15, 2025
FCA Motor Finance Compensation Plan Is 'Overreach'

The Financial Conduct Authority's planned £8.2 billion ($11 billion) redress program for motor finance customers goes too far, a trade body representing professional indemnity insurers said Monday.
December 12, 2025
UK Litigation Roundup: Here's What You Missed In London

This past week in London has seen Shell hit with a climate change claim from 100 survivors of a typhoon in the Philippines, London Stock Exchange-listed Oxford Nanopore bring legal action against its co-founder, and the editors of Pink News sue the BBC for defamation following its investigation into alleged sexual misconduct at the news site.
December 12, 2025
FCA Floats Pension Transfer Overhaul For Better Outcomes

The Financial Conduct Authority has proposed rules that will allow pension providers to create new online planning tools for customers considering a savings transfer.
December 12, 2025
Collective Pension Rules Need Safeguards, Trade Body Says

Plans by the U.K. government to allow savers to transfer their retirement pots into a collective program must be supported by strong safeguards to protect retirees against unforeseen hitches such as market volatility and mispricing, a trade body has said.

Editor's Picks

Top Court Ruling In 'Whiplash' Test Case Could Hit Premiums

Personal injury claimants could get higher payouts from their motor insurance as a result of a test case ruling at Britain's highest court on Tuesday, although analysts warn that insurers could respond with higher premiums to cover the cost of bigger claims.
FCA Begins Crackdown On Poor-Value Insurance Products

The move by the Financial Conduct Authority to restrict sales of guaranteed asset protection insurance is a sign of a faster approach to market intervention, and could lead the regulator to scrutinize other underperforming products, consultants say.
Post-Election UK Pension Changes Could Be In The Fine Print

Regulatory lawyers are not expecting radical overhaul in pension policies if the government changes after this year's general election. But lawyers say that signals in the opposition Labour Party's policy language could hint at possible shifts in investment priorities for retirement savings.

Expert Analysis

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.
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.
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.
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.
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.
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.
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.
What EU Securitization Proposals Signal For Risk Transfers

If implemented, recent amendments to the European Union securitization framework are expected to have an unambiguously positive effect on significant risk transfer markets, providing greater consistency and necessary flexibility, say lawyers at McDermott.
What To Know About EU's Reimposition Of Sanctions On Iran

Lawyers at Steptoe discuss the European Union’s recent reimposition of trade and financial sanctions against Iran, which will introduce legal and operational constraints that affect EU companies' commercial activities in the region.
FCA Crypto Proposals Herald Tougher Oversight For Firms

The Financial Conduct Authority’s recent proposals to extend regulation to crypto-asset activities will bring parity, but implementation of the operational resilience requirements and enhanced financial crime controls will present compliance challenges, says Michelle Kirschner at Gibson Dunn.
What To Know About Interim Licenses In Global FRAND Cases

Recent U.K. court decisions have shaped a framework for interim licenses in global standard-essential patent disputes, under which parties can benefit from operating on temporary terms while a court determines the final fair, reasonable and nondiscriminatory terms — but the future of this developing remedy is in doubt, say attorneys at Fish & Richardson.
EU-US Data Transfer Ruling Offers Reassurance To Cos.

The European Union General Court’s recent upholding of the EU-U.S. Data Privacy Framework in Latombe v. European Commission, although subject to appeal, provides companies with legal certainty for the first time by allowing the transfer of European Economic Area personal data without relying on alternative mechanisms, say lawyers at Wilson Sonsini.
What EBA Report Means For Non-EU Financial Firms

In a recent report concerning unregulated third country banks, the European Banking Authority decided not to extend a bank-to-bank exemption under the Capital Requirements Directive, raising a number of compliance issues for cross-border services, say lawyers at A&O Shearman.
What To Note From FCA, Gov't Financial Growth Proposals

Recent Financial Conduct Authority and government proposals for financial services reform are positive developments for firms, signaling a drive to push forward growth and a willingness to be flexible in areas of regulation that the industry has long raised as barriers, say lawyers at Simmons & Simmons.
FCA Misconduct Guide Will Expand Firms' Duty To Investigate

The Financial Conduct Authority's recent proposals on workplace nonfinancial misconduct will place a greater onus on compliance and investigations teams, clarifying that the question to ascertain is whether the behavior is justifiable and proportionate, say lawyers at Ashurst.